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Bovie Medical Corporation Announces Fiscal Year 2012 Financial Results
Date:4/1/2013

MELVILLE, N.Y., April 1, 2013 /PRNewswire/ -- Bovie Medical Corporation (the "Company") (NYSE Amex: BVX), a manufacturer and marketer of electrosurgical products, today announced its financial results for the year ended December 31, 2012 and fourth quarter.

Revenues for the year ended December 31, 2012 increased 8.9% to $27.7 million versus $25.4 million for the comparable period the prior year. Net income for FY 2012 totaled $617,000 or $.03 per diluted share compared to $109,000 or $.01 diluted share in the same period last year. Higher sales resulted from increased general demand in all segments of Bovie's business.

Revenues for the quarter ended December 31, 2012 were $6.8 million versus $6.2 million in the comparable period last year; resulting in net income of $285,000 or $.02 per diluted share after the effects of adjusting the quarterly tax provision and gain on the valuation of our warrant liability.  For the fourth quarter of FY 2011 the Company reported a loss of $(875,000) or $(.05) per diluted share, which included a recognized $1,591,000 expense for the transfer of inventory and intellectual property related to a legal settlement.

In a March 2011 news release, mention was made of an anticipated developmental and manufacturing agreement with a large medical device company.  Due to modified specifications yet to be finalized, discussions are continuing.

J-Plasma™ NewsOn Monday, March 25 in Las Vegas, NV the Company completed the second in a series of surgical courses designed to introduce J-Plasma™ to surgeons, clinicians and sales representatives from across the U.S.  The first course was held in Nashville, TN on Thursday, March 21st.  Both went smoothly with excellent results.  The courses are given to optimize t
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