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Biotech / Medical : REPR - REPRO MED SYSTEMS INC
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To: Joe Copia who wrote ()1/8/2000 1:41:00 PM
From: SgtPepper  Read Replies (1) of 37
 
Turnaround story for REPR. 10QSB filed Friday. Company reports 1 cent/shr profit. Number of shares remains stable at 26,000,000, fully diluted. Highlights:

THREE MONTHS ENDED NOVEMBER 30, 1999 VS. 1998
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Sales increased 68% from $312,103 (1998) to $524,445 (1999) for the quarters ended November 30. Of the increased revenue, 45% is attributed to intravenous infusion and resuscitation products and 55% to suction and OEM (Original Equipment Manufacture) sales.

Cost of goods rose 28% with the sales increase improving the product margin from 24% in 1998 to 42% in 1999.

Selling, general and administrative expense decreased 3% for the three months period versus 1998. Management initiated expense and payroll reductions in September 1999 that continue to produce savings compared to prior periods.

Research and development expenses are decreased 56% period to period reflecting payroll reductions made in the second quarter of fiscal 2000.

The period to period reduction in depreciation and amortization expense reflects the end of write offs for some intangible assets and the elimination of building depreciation with its sale.

Interest expense was reduced 72% as the result of the sale and lease-back of the company's building. Interest expense is now replaced by rent payments.

Rental income has been eliminated with the sale of the building. Refer to "Liquidity and Capital Resources " below for sale of investment explanation.

Full text:
edgar-online.com
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