Navigation Links
Corgenix Reports Financial Results for First Quarter of Fiscal 2010

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

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.

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

                              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:
(Date:6/24/2016)... SAN CLEMENTE, Calif. , June 24, 2016  American ... function testing company, is now able to perform sophisticated lung assessments ... ndd Medical Technologies , Inc. Patients are no ...  Thanks to ndd,s EasyOne PRO ® , ARL patients like Jeanne ... needed testing done in the comfort of her own home. ...
(Date:6/24/2016)... , June 24, 2016   Pulmatrix, Inc ... company developing innovative inhaled drugs, announced today that it ... Russell Investments reconstituted its comprehensive set of U.S. ... "This is an important milestone for Pulmatrix," said ... increase shareholder awareness of our progress in developing drugs ...
(Date:6/23/2016)... 2016  MedSource announced today that it has ... solution of choice.  This latest decision demonstrates MedSource,s ... their clients by offering a state-of-the-art electronic data ... nowEDC as the EDC platform of choice in ... "nowEDC has long been a preferred EDC platform ...
Breaking Medicine Technology:
(Date:6/27/2016)... ... June 27, 2016 , ... "FCPX editors can now reveal their ... Cut Pro X," said Christina Austin - CEO of Pixel Film Studios. , ... Pro X users can now reveal the media of their split screens with ...
(Date:6/26/2016)... ... , ... Quality metrics are proliferating in cancer care, and are derived from ... of the beholder, according to experts who offered insights and commentary in the current ... For the full issue, click here . , For the American Society of ...
(Date:6/26/2016)... Lake Orion, Clarkston, Michigan (PRWEB) , ... June ... ... direction with respect to fertility once they have been diagnosed with endometriosis. These ... tolerable intercourse but they also require a comprehensive approach that can help for ...
(Date:6/25/2016)... ... June 25, 2016 , ... First Choice Emergency Room ... Dr. Sesan Ogunleye, as the Medical Director of its new Mesquite-Samuell Farm facility. ... of our new Mesquite location,” said Dr. James M. Muzzarelli, Executive Medical Director of ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... A recent ... that most people are unfamiliar with. The article goes on to state that individuals ... also many of these less common operations such as calf and cheek reduction. The ...
Breaking Medicine News(10 mins):