Implant Sciences Provides Guidance for Fiscal 2006 Revenues
Thursday August 10, 10:05 am ET
Full Year Revenues for Fiscal 2006 Expected to Approximately Double as Compared to Prior Year
WAKEFIELD, Mass.--(BUSINESS WIRE)--Aug. 10, 2006--Implant Sciences Corporation (AMEX: IMX - News) a developer and manufacturer of products for national security, medicine and industry, today provided revenue guidance for the fiscal year ending June 30, 2006. The Company expects to report fiscal 2006 revenues in the range of $24 million to $25 million for the full fiscal year. The Company expects growth in all three business segments with the most significant growth coming from its semiconductor and explosives detection business units.
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Dr. Anthony J. Armini, PhD., CEO of Implant Sciences, commented, "With the recent completion of our fiscal year ended June 30, 2006, we are pleased to provide our shareholders with guidance as to our anticipated revenues for fiscal 2006, which is expected to be no less than $24 million to $25 million. This compares to revenues of approximately $12.3 million for our previous fiscal year which ended June 30, 2005. We are pleased with our revenue growth, especially in our semiconductor and explosives detection business units. We believe we have been successful in containing our operating costs, which combined with revenue growth, has helped to reduce our overall cash burn. With the assistance of government funding, we have also been able to embark upon the development of a next-generation passenger portal, which we believe could represent an important new future product for the Company. We believe our explosives detection business has a rich pipeline of existing products, new products currently under development, and future innovative products. We expect continuing revenue growth in these business sectors during fiscal 2007." |
