Hey, cb you started this thread......
Bio-Plexus Reports Increased Revenues and Lower
Losses
Business Wire - July 20, 1998 13:19
VERNON, Conn.--(BW HealthWire)--July 20, 1998--Bio-Plexus, Inc.
(NASDAQ:BPLX), designer, developer, manufacturer, and marketer of safety medical
products under the PUNCTUR-GUARD(R) name, today announced at its annual
meeting that it has increased revenues and significantly reduced losses in the quarter
ended June 30, 1998.
Total revenues for the quarter increased to $2,339,000 from $954,000 and net losses
were $143,000 or $0.01 per common share, compared to $3,658,000 or $0.46 per
common share for the same period a year ago. "The improvements are in large part the
result of increased activity on our safety I.V. catheter project, but also reflect our
ongoing efforts to get our financial house in order," said Richard Higgins, president and
chief executive officer. "These efforts include more cost-effective manufacturing
operations, careful expense management, and a marketing strategy that focuses on the
bottom line rather than the top line," Higgins added.
"We are also working to support the safety movement, and Tom Sutton, our executive
vice president of marketing and administration has been appointed to the OSHA
Advisory Committee in California that is considering the possibility of mandating the use
of safety needle products. This is an important initiative, and one that Bio-Plexus will
continue to support," Higgins added.
Bio-Plexus holds U.S. and international patents on safety medical devices marketed
under the Punctur-Guard name. These devices are designed to reduce the incidence of
accidental needlesticks among healthcare workers. In a Centers for Disease Control
study, Punctur-Guard Blood Collection Needles were found to reduce the rate of
accidental needlesticks by 76%, the highest rate of any device studied. Accidental
needlesticks number more than 950,000 per year in the United States and can result in
the transmission of deadly diseases including HIV and Hepatitis B and C. |
