I don't know if anyone remembers this one,
it got bumped to the bb, but I like BIPL
at the current level. It is probably the cheapest
way to play the genomic sector..And this month
they settled a patent lawsuit that was an
overhang.
``The year 2000 was a year of major developments for Biopool/Xtrana, resulting in a new company, a new management team and a new vision for the future,'' commented Timothy J. Dahltorp, chief operating officer of Biopool International/Xtrana. ``Most significantly, the year 2000 saw the merger of Biopool and Xtrana, a company based in Denver, Colorado, with proprietary technologies for developing novel nucleic acid (DNA/RNA) testing devices with widespread applications. To enhance the company's historic leadership in the hemostasis market, the merger now brings the new combined company into the exciting arena of genomics, providing access to new and rapidly growing markets.
``We are very pleased to report an 11 percent increase in sales for the year ended December 31, 2000,'' Dahltorp continued, ``which was fundamentally a result of further penetration of international hemostasis markets through our OEM and distributor relationships.
``In addition, one third of the increase was attributable to direct sales of Biopool-labeled product resulting from a renewed focus in this area. Cash flow from our hemostasis business remains strong, generating EBITDA of $1.4 million for the year, excluding certain severance obligations resulting from management changes that occurred as a result of the merger.
``Our reported net loss of $1.1 million is primarily the result of the addition of the Xtrana business and the significant investment in research and development in our nucleic acid-based technologies, combined with a $361,000 provision for a valuation allowance on the company's deferred tax assets, relating primarily to future net operating loss carry forwards.
``We anticipate that some of our continued R&D investment will be offset in 2001 as our first commercial Xtrana product, XtraAmp(TM), for the extraction and purification of nucleic acid, begins to generate revenue.
``Another important development in the year 2000 was the sale of the property and land of our former BCA business unit for $2.0 million. This inflow of cash added to our existing strong liquidity position. At December 31, 2000, the company's working capital was $6.4 million, with a current ratio of 5.9 to 1.0.
``More recently,'' concluded Dahltorp, ``we reported a very notable achievement for our historic core business of hemostasis products. In February 2001, we obtained FDA clearance for our new MiniQuant(TM) D-dimer Assay System. The significance of D-dimer assays in evaluating patients with thrombotic disorders, such as deep vein thrombosis and pulmonary embolism, affecting approximately 2.5 million Americans each year, has been well documented; and we're very pleased to be able to provide our customers with this new quantitative, all-inclusive assay system.''
They had a $1 million loss or so for the year, but that was offset by some non-operating events. |
