Tutogen Medical Reports First Quarter FY 2003 Financial Results and Schedules Conference Call
Wednesday February 19, 11:11 am ET
WEST PATERSON, N.J--(BUSINESS WIRE)--Feb. 19, 2003--Tutogen Medical, Inc., (AMEX: TTG - News) is pleased to report first quarter FY 2003 financial results.
For the three months ended December 31, 2002 revenues increased over 31% to $6.6 million from $5.0 million for the comparable period of fiscal 2001. The increase in revenue for the period was attributable to the increasing demand for the Company's TUTOPLAST® PROCESSED sterile biological implants for spinal and dental repair. These Tutoplast® specialty implants, known by their trade names, Puros(TM), Symmetry(TM), and PLIF(TM) Allograft System, are distributed exclusively by the Company's marketing partner CenterPulse (NYSE: CEP - News) through their CenterPulse Spine-Tech and CenterPulse Dental divisions. Gross margins for the quarter exceeded 50%. Cash flow was negatively impacted by the creation of additional inventory to meet increasing demand and the launch of the Company's new Ligatech(TM) line of sterile biologic implant devices for use in the field of Sports Medicine.
Manfred Krueger, CEO of Tutogen commented, "We continue to see improvement in revenue growth in all of our markets. The development of our independent distributor network has begun to contribute to this improved revenue picture. We have now delivered four consecutive quarters of profitability and our current quarter is off to a good start. The recent addition of six independent distributors and the introduction of several new products should contribute to Tutogen achieving its growth targets for the current year and beyond."
Manfred Krueger and George Lombardi will conduct a conference call Feb. 24th at 11 AM EST. The participant dial-in number is: 877-407-9205 or 201-689-8054 (international). A replay will be available until Feb. 26th at 877-660-6853 or 201-612-7415 (international). Replay access requires a/c no.1628, conference ID no 58425. A web-cast of the call will be archived and available for 30 days at: vcall.com . |
