HYDI-OTC BB-7/8 by 1.00....i have been following them for quite a while now and yest numbers were excellent...low outstanding, low flt:
(COMTEX) B: HYDROMER INC - Earnings for the First Quarter Ended Decem
B: HYDROMER INC - Earnings for the First Quarter Ended December 31, 2000.
New York, New York, Feb 13, 2001 (Market News Publishing via COMTEX) --
Hydromer, Inc. is pleased to report that the Company's revenues for the quarter
ended December 31, 2000 were $1,623,718 as compared to $724,127 for the same
period last year, or an increase of 124.2%.
Revenues for the Fiscal 2001 through 12/31/00 are $2,905,237, up 98% versus
$1,467,614 last fiscal year. These results include revenue from the Biosearch
Medical Products subsidiary, acquired in a cash transaction in February 2000.
Net earnings were up 66.3% to $189,368 for the quarter ended 12/31/00 as
compared to $84,089 reported for the quarter ending 12/31/99. Earnings per share
were $0.041 per share for the 2nd quarter, up 128%, as compared to $0.018 for
2nd quarter last year. Net Earnings YTD are $306,463 or $0.067 per share, versus
$184,295 or $0.04 for the same period last year.
Product, service and technology sales were up 405% to $1,022,259 in the second
quarter versus $202,575 in the same period last year, and $1,751,988 for the
six-month period ending 12/31/00 versus $314,766 for the same period last year.
Biosearch contributed $688,635 in revenue for the quarter, and $1,153,908
through the six-month period ending 12/31/00. Royalty, license and option
revenue increased 15.3% to $601,459 from $521,522 for the period ending December
31,2000 versus the same period last year.
The Company's gross profit was up 78.6% to $1,184,043 from $663,065 for the same
period last year. For the six-month period ending 12/31/00, the Company has
recorded a 62.4% increase in gross profit to $2,170,355 versus $1,336,504 from
the same period last year. Income before taxes was also up 145% to $296,720 for
the quarter from the prior years results of $121,089 for the same period. Year
to date, the Company's income before taxes is up 66.5% to $454,750 from $273,089
last fiscal year.
"We continue to see an acceleration in growth across many of our business areas,
and an improvement in profitability from our consolidations efforts," said
Manfred Dyck, President and CEO of Hydromer. "Our T-HEXX(R) Animal Health brand
is expanding its licensee base and distribution network here in North America
and in Europe. Our T-HEXX products are developing a strong following,
demonstrating their viability versus products offered by competitors like
Alcide's UdderGold(R) (NasdaqNM:ALCD) and Ecolab's Valiant(R) (NYSE:ECL) among
premium teat care users. Our Biosearch subsidiary is now contributing growth to
our top, and more importantly bottom line. We are continuing to aggressively
pursue additional license and new product opportunities to leverage our
technologies and process capabilities on a global basis, in addition to
increasing our presence in the medical products and animal health areas via
increased investment in advertising, promotion, and exhibits. The Company is
also continuing to make additional investments in technology, process
capabilities and facilities to offer and extended range of products and services
to the medical device community."
Hydromer, Inc. is a technology-based company involved in the research and
development and manufacture of specialized polymer and hydrogel products for
medical device, cosmetic, animal health, pharmaceutical, biotechnology and
industrial uses. Visit our corporate web site at: hydromer.com or
T-HEXX at www.T-HEXX.com.
CONTACT: TEL: 908/526-2828 Hydromer, Inc., Branchburg
Joseph Ehrhard
MarketbyFax(tm) - To get the NEWS as it happens, call (604) 689-3041.
(C) 2001 Market News Publishing Inc.
-0-
KEYWORD: New York, New York
*** end of story *** |
