Oh yeah. I forgot. Triple-witching is this Friday. BTW here's some old news -- appeared June 12. Nothing new or exciting, but here it is, nevertheless.
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PHOENIX, June 12 /PRNewswire/ -- Zila, Inc. (Nasdaq: ZILA), international marketer of oral healthcare products, reported record revenue and a profit for the third quarter of fiscal year 1996,
ended April 30. Revenue, including licensing fees and royalties, totaled $2,064,607, compared to $1,386,185 for the third quarter of FY 1995.
Net sales for the third quarter of FY 1996 were $1,337,641, versus net sales of $1,242,311 in the year-ago quarter. Licensing fees and royalty revenues rose to $726,966, from $143,874 in the third quarter of FY 1995. Third quarter licensing revenue included fees paid by P&G under terms of a marketing license granted by the Company for OraTest(TM), Zila's oral cancer diagnostic. In early April, P&G invoked a 90-day termination clause, canceling their license, effective July 3, 1996.
With a net income of $176,044 in the third quarter of FY 1996 (compared to a net loss of $197,203 in the year-ago quarter), the Company posted its first profitable quarter since initiating
development and pursuit of international regulatory approvals for OraTest, more than three years ago. Total assets rose to $6,951,596, up 66% from $4,189,022 a year ago, in part due to the Company's purchase of a one-third interest in CTM Associates during the third quarter. The balance sheet continues strong with no long-term debt other than the mortgage on the Company's headquarters building.
On June 3, 1996, Zila announced it had signed a letter of intent to acquire Bio-Dental Technologies, Inc. (Nasdaq: BDTC), one of the nation's fastest growing marketers of professional dental products. Bio-Dental would become the exclusive distributor of OraTest in the U.S., following regulatory approval.
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