Tutogen Reports Record Q3 Revenue of $3.4 Million and EPS of $0.05 Nine Months Revenues $12.2 Million and EPS of $0.22
CLIFTON, N.J.--(BUSINESS WIRE)--Aug. 8, 2000--Tutogen Medical, Inc. (OTC Bulletin Board: TTGN - news) reported net earnings for the third quarter ended June 30, 2000 of $605,000 or $0.05 per share, compared to a net loss of $105,000 or ($0.01) per share, for the same period last year.
For the first nine months of the fiscal year, the Company's net earnings were $2,525,000 or $0.22 per share, compared to a net loss of $614 or ($0.07) per share for the first nine months of 1999. Included in Other Income for the third quarter is $1,000,000 received from Sulzer Spine-Tech, Inc., a subsidiary of Sulzer Medica, (NYSE: SM - news) the first of three payments pursuant to the previously reported partner arrangement. Revenues for the third quarter totaled $3,385,000 as compared to $2,549,000 for the third quarter of the fiscal 1999, an increase of 33% and the 9th consecutive quarter of revenue growth. Revenues for the nine months totaled $12,165,000, an increase of 56% as compared to $7,822,000 for the same period last year.
Manfred Kruger, Tutogen's President and Chief Executive Officer, stated, ``I am gratified by the continued growth of our business. The consolidations and realignments implemented earlier in the year are bearing fruit. Sulzer's Spine-Tech, Inc. will be launching a broad based sales effort with Tutogen. Together we expect to begin to aggressively take market share from the competition. I expect Tutogen to continue to make solid progress in all areas of our business including revenues and earnings and I am confident that our partnership with Sulzer will add significant future growth.''
Tutogen Medical, Inc. (http://www.tutogen.com) processes bioimplants for neurosurgical, orthopedic, reconstructive and general surgical indications, utilizing its patented Tutoplast® process of tissue preservation and viral inactivation. The Company's Tutoplast® tissues are distributed worldwide through subsidiaries in the U.S. and Germany and through strategic alliances with Mentor Corporation, Sulzer Medica and IOP, Inc. |
