Human Pheromone Sciences Announces Third Quarter 1999 Results
Nine-Month Operating Results Reflect a 70% Improvement From 1998 Initial Licensing Revenues an Increasing Factor in Favorable Performance
FREMONT, Calif., Nov. 3 /PRNewswire/ -- Human Pheromone Sciences, Inc. (``HPS') (Nasdaq: EROX - news) announced today a loss of $95,000 ($.03 per share) for the third quarter ended September 30, 1999, as compared with a loss of $186,000 ($.05 per share) in the third quarter of 1998. For the nine months ended September 30, 1999, the Company's loss was reduced by 70% to $702,000 ($.20 per share) from $2,355,000 ($.69 per share). Net sales for the third quarter of 1999 were $2,124,000 versus $2,313,000 in the prior year period. Net sales for the nine-month period of 1999 were $6,474,000 as compared with $7,581,000 last year.
In commenting on results for the quarter, William P. Horgan, Chairman and CEO of the Company made the following statements. ``During the past twelve months, we have undertaken a series of programs designed to lessen our dependence on the sale of REALM© fragrances and toiletry products in U.S. department stores -- historically a major drain on profits and cash flow. We have instituted a more tightly focused sales and marketing approach in this area of the business; international penetration has been accelerated and HPS has realized profits of $450,000 in this initial year of licensing our patented human pheromone technology to third parties.'
``While addressing basic operating issues, we have not reduced our commitment to invest in human pheromone research and development for consumer products; we continue to seek to position our Company as a leader in scientifically-based consumer product advances in the year 2000 and beyond,' Horgan emphasized... |
