Navigation Links
Corgenix Reports Financial Results for First Quarter of Fiscal 2010
Date:11/12/2009

DENVER, Nov. 12 /PRNewswire-FirstCall/ -- Corgenix Medical Corporation (OTC Bulletin Board: CONX), a worldwide developer and marketer of diagnostic test kits, today reported sales of $2,044,967 for the first fiscal quarter ended September 30, 2009, compared with $2,001,896 for the quarter ended September 30, 2008, an increase of 2.2%.

The first quarter of fiscal 2010 produced operating income of $83,803 compared with an operating loss of $94,133 for the first quarter of fiscal 2009. The net loss for the quarter significantly improved to $6,752 or less than $0.01 per share, compared to a net loss of $340,659, or $0.01 per share, in the year earlier quarter. The primary causes of the reduced net loss for the current quarter were a $43,071 increase in sales, a $168,908 reduction in operating expenses, and a $183,915 reduction in interest expense in the current quarter versus the same quarter in the prior fiscal year.

Douglass Simpson, Corgenix CEO and President, stated, "We are extremely pleased with the performance this quarter. We showed an increase in sales over the same period in the prior year, and the previously implemented operating expense reduction plan in combination with the significantly reduced interest charges resulting from the recent debt restructuring brought us almost to the breakeven point."

Mr. Simpson added, "Our management team is continuing to focus on revenue growth while tightly controlling expenses to get us over the breakeven point and into sustained profitability."

First Quarter Fiscal 2010 Conference Call Details

Corgenix invites all those interested in hearing management's discussion of fiscal year results to join a shareholders conference call on Thursday, November 12, 2009, at 4:00 PM EST (2:00 PM MST). Interested parties can join the call by dialing (800) 894-5910. International participants may access the call by dialing +1 785 424 1052. The conference code is "CORGENIX". A replay will be available for 30 days following the call by dialing (800) 723-0498 for U.S. participants and +1 402 220 2652 for international participants.

About Corgenix Medical Corporation

Corgenix is a leader in the development and manufacturing of specialized diagnostic kits for immunology disorders, vascular diseases and bone and joint disorders, including the world's only non-blood-based test for aspirin effect. Corgenix diagnostic products are commercialized for use in clinical laboratories throughout the world. The company currently sells over 50 diagnostic products through a global distribution network and has significant experience advancing products through the FDA process. More information is available at www.corgenix.com.

Statements in this press release that are not strictly historical facts are "forward-looking" statements (identified by the words "believe", "estimate", "project", "expect" or similar expressions) within the meaning of the Private Securities Litigation Reform Act of 1995. These statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, changes in the regulatory environment, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. The statements in this press release are made as of today, based upon information currently known to management, and the company does not undertake any obligation to publicly update or revise any forward-looking statements.



                      SUMMARY OF FINANCIAL HIGHLIGHTS
              ($000 of U.S. dollars except shares outstanding
                          and per share amounts)

               CORGENIX MEDICAL CORPORATION AND SUBSIDIARIES
                              OPERATIONAL DATA

                                           Quarter Ended September 30
                                               2009           2008
                                               -------------------

    Net sales                                $2,045          $2,002

    Gross profit                              1,116           1,107

    Operating income (loss)                      84             (94)

    Net loss                                     (7)           (341)

    Basic and diluted loss
     per share                               $(0.00)         $(0.01)

    Basic and Diluted shares
     outstanding                         30,305,855      30,092,093

                                  BALANCE SHEET DATA
                                    (in thousands)

                               September 30, 2009            June 30, 2009
                               ------------------            -------------

    Cash                              $982                         $785

    Working capital                  2,195                        2,013

    Total assets                     6,787                        6,906

    Long-term debt                     753                          744

    Total stockholders' equity       3,152                        3,113

SOURCE Corgenix Medical Corporation


'/>"/>
SOURCE Corgenix Medical Corporation
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. Corgenix to Host Conference Call to Discuss Fiscal 2010 First Quarter Results
2. Corgenix, Tulane Announce Award of NIH Grant Extending Hemorrhagic Fever Virus Product Development Program
3. Corgenix AspirinWorks(R) Test Recognized in POLYCAP Study at ACC.09
4. Catalyst Pharmaceutical Partners Reports Third Quarter 2009 Financial Results
5. Pharmos Corporation Reports 2009 Third Quarter Results
6. MedCath Corporation Reports Fourth Quarter Earnings
7. Cardiogenesis Reports Third Quarter 2009 Results
8. Vion Pharmaceuticals Reports 2009 Third Quarter and Nine-Month Results
9. PLC Systems Reports Third Quarter 2009 Results; Announces Distribution Agreement for RenalGuard(R) in Brazil
10. Chindex International, Inc. Reports Second Quarter and First Half Fiscal 2010 Financial Results
11. SCOLR Pharma, Inc. Reports Third Quarter 2009 Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... Mass. , June 24, 2016   Pulmatrix, ... pharmaceutical company developing innovative inhaled drugs, announced today that ... Russell Investments reconstituted its comprehensive set of ... "This is an important milestone for Pulmatrix," ... will increase shareholder awareness of our progress in developing ...
(Date:6/23/2016)... BEVERLY HILLS, Calif. , June 23, 2016 ... faced the many challenges of the current process. Many of ... option because of the technical difficulties and high laboratory costs ... would have to offer it at such a high cost ... to afford it. Dr. Parsa Zadeh , ...
(Date:6/23/2016)... June 23, 2016 Capricor ... ), a biotechnology company focused on the discovery, ... that patient enrollment in its ongoing randomized HOPE-Duchenne ... exceeded 50% of its 24-patient target. Capricor expects ... third quarter of 2016, and to report top ...
Breaking Medicine Technology:
(Date:6/27/2016)... ... June 27, 2016 , ... TopConsumerReviews.com recently awarded their highest five-star ... , Millions of individuals in the United States and Canada wear eyeglasses. Once considered ... both correct vision and make a fashion statement. Even celebrities use glasses as a ...
(Date:6/26/2016)... ... June 26, 2016 , ... On June 10-11, 2016, A Forever Recovery, a ... and World’s Longest Breakfast Table in Battle Creek, MI, where the rehabilitation facility is ... to some of the world’s leading providers of cereal and other breakfast foods. Its ...
(Date:6/26/2016)... North Carolina (PRWEB) , ... June 26, 2016 , ... ... release of a new product that was developed to enhance the health of felines. ... for centuries. , The two main herbs in the PawPaws Cat Kidney Support ...
(Date:6/26/2016)... Birmingham, Lake Orion, Clarkston, Michigan (PRWEB) , ... ... ... their direction with respect to fertility once they have been diagnosed with endometriosis. ... for tolerable intercourse but they also require a comprehensive approach that can help ...
(Date:6/25/2016)... ... ... Austin residents seeking Mohs surgery services, can now turn to Dr. Jessica ... Peckham for medical and surgical dermatology. , Dr. Dorsey brings specialization to include Mohs ... Mohs Micrographic Surgery completed by Dr. Dorsey was under the direction of Glenn Goldstein, ...
Breaking Medicine News(10 mins):