BLUE BELL, Pa., July 22 /PRNewswire/ -- Bionx Implants, Inc.
(Nasdaq: BINX) today announced earnings of $454,000, or $.05 per share, on
total revenues of $3.9 million for the second quarter of 1997. For the second
quarter of 1996, Bionx Implants reported a net loss of $509,000, or ($.09) per
share, on total revenues of $749,000.
For the six month period ended June 30, 1997, total revenues were
$7.1 million, up $5.7 million, or 388% as compared with $1.5 million for the
first six months of 1996. Net earnings for the current six month period were
$675,000 or $.07 per share, as compared with a net loss of $995,000, or ($.18)
per share during the first six months of 1996.
David Anderson, the Company's president and chief executive officer,
commented: "We are pleased with second quarter results, on both a top-line
and bottom-line basis. The second quarter reflects revenue increases across
our major product lines and continuing penetration in domestic and
international markets."
Bionx Implants, Inc. is a leading developer, manufacturer and marketer of
self-reinforced, resorbable polymer implants, including screws, pins, arrows
and stents for use in a variety of applications which include orthopaedic
surgery, urology and maxillo-facial surgery.
BIONX IMPLANTS, INC.
Financial Highlights
(Unaudited; In Thousands, Except Per Share Amounts)
Three Months Ended
June 30, 1997 June 30, 1996
Total Revenue $3,930 $749
Income (Loss) Before Income Taxes 607 (509)
Net Income (Loss) 454 (509)
Earnings (Loss) Per Share $0.05 $(0.09)
Average Shares of Common Stock 9,232 5,516
Six Months Ended
June 30, 1997 June 30, 1996
Total Revenue $7,147 $1,465
Income (Loss) Before Income Taxes 903 (995)
Net Income (Loss) 675 (995)
Earnings (Loss) Per Share $0.07 $(0.18)
Average Shares of Common Stock 9,232 5,516
SOURCE Bionx Implants, Inc.
CONTACT: David W. Anderson, President & CEO, or Michael J. O'Brien, Vice
President & CFO of Bionx Implants, 215-643-5000, or fax, 215-653-0984 |
