Tutogen Medical Reports 4th Quarter and FY 2000 Results
Revenue increases 33% -- Earnings increase 700%
CLIFTON, N.J.--(BUSINESS WIRE)--Dec. 11, 2000--Tutogen Medical, Inc. (AMEX: TTG - news) today reported revenues for the 4th quarter of Fiscal Year 2000 of $3.1 million vs. $3.6 million for the same period last year. Fiscal Year 2000 revenues increased 33% to $15.2 million vs. $11.5 million last year. Earnings for Fiscal Year 2000 were $2.8 million or $0.24 per basic share and $0.20 per share fully diluted, compared to a net income of $0.4 million or $0.04 per basic share and $0.04 per share fully diluted, in 1999. Earnings have increased 700%.
Manfred Krueger, President of Tutogen Medical made the following comments; ``Fiscal Year 2000 was truly a milestone year for us. As a result of Tutogen's superior tissue preservation technology and the strength of our organization, we were able to forge a series of long term partnerships with Sulzer Medica (NYSE: SM - news), one of the worlds' largest medical technology companies. These partnerships, with Spinetech and Calcitek, wholly owned subsidiaries of Sulzer, will significantly increase the market penetration of Tutogen's products. Toward this goal Sulzer has prepared various marketing documents which feature those qualities unique to our products, and which gave Sulzer the comfort to partner with us. As Sulzer's marketing teams are educated about Tutogen's various products and processes we expect these partnerships to be very fruitful.
``During the 4th Quarter Sulzer became the beneficial owner of approximately 9% of the capitalization of Tutogen, which I believe, reflects their confidence in the future of our partnerships. Speaking on behalf of myself, our employees and shareholders, we welcome them''
Tutogen Medical, Inc. utilizes its patented Tutoplast®process of tissue preservation and viral inactivation, to manufacture bioimplants for neurosurgical, orthopedic, reconstructive and general surgical indications. The Company's Tutoplast®products are sold and distributed worldwide by the Mentor Corporation (NMS: MNTR), Sulzer Medica (NYSE: SM - news), IOP, Inc. and through subsidiaries in the U.S. and Germany. |
