Fourth Quarter 1999 Results
* Full Year Operating Results Reflect a 68% Improvement From 1998 * License and Supply Revenues an Increasing Factor in Favorable Performance
FREMONT, Calif., Feb. 16 /PRNewswire/ -- Human Pheromone Sciences, Inc. (''HPS'') (Nasdaq: EROX - news) announced today a loss of $142,000 ($.04 per share) for the fourth quarter ended December 31, 1999, as compared with a loss of $265,000 ($.08 per share) in the fourth quarter of 1998. For the year ended December 31, 1999, the Company's loss was reduced by 68% to $844,000 ($.25 per share) from $2,620,000 ($.76 per share). Net revenues for the fourth quarter of 1999 were $2,831,000 versus $2,797,000 in the prior year period. Net sales for the full year of 1999 were $9,306,000 as compared with $10,379,000 last year.
In commenting on results for the quarter, William P. Horgan, Chairman and CEO of the Company made the following statements. ''In the first year of licensing our patented human pheromone technology, the Company has generated almost $650,000 in earnings. This is an extremely profitable segment of the business. We continued our cost reduction programs and intensified efforts to reduce the Company's dependence on sales of REALM® fragrances in department stores -- a major drain on profits and cash flow. Obviously, our operating objectives for the current year and beyond are to increase the number of licensing relationships while eliminating losses generated in the basic fragrance business. Continued success in both of these areas is the key element in generating and sustaining profitability for our Company.''
''While addressing basic operating issues, we are increasing 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
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