Version 3
Hi,
Please ignore this message.
Testing.
re:My Forecast BIOX 1998 P/L
Regards,
John McCarthy
--------------------------
Sy = Synvisc @ 35% of Retail Price
Hf = Hylaform
Hs = Hylashield
-------------------------------------------------------------------
Biomatrix (BIOX) - 1998 1st 2nd 3rd 4th 1998
===================================================================
Pr Loc Dist
-------------------------------------------------------------------
Sy USA (AHP) 8,000 10,000 13,000 16,000 47,000
Sy NON-USA (AHP) 500 800 1,200 1,600 4,100
Sy France (Boe Ing) 400 600 800 1,000 2,800
Sy Canada (RPR) 500 500 500 500 2,000
Sy Sweden (Roche) 300 300 300 300 1,200
Sy Isr./FE (Bayer AG) 300 300 300 300 1,200
Sy Italy (Recdati) 150 150 150 150 600
Sy England (Biox) 50 100 150 200 500
Sy China (Biox) 25 50 75 100 250
Sy Norway (Biox) 1 1 1 1 4
Sy Finland (Biox) 1 1 1 1 4
Sy Switzer (Biox) 1 1 1 1 4
Hf USA (Collagen) 700 900 1,100 1,300 4,000
Hf NON-USA (Collagen) 400 600 800 1,000 2,800
Hs ITAL (Far Farm) 50 50 50 50 200
Other (Biox) 300 300 300 300 1,200
-------------------- ------- ------- ------- ------- -------
Total Product Sales 11,678 14,653 18,728 22,803 67,862
-------------------- ------- ------- ------- ------- -------
Memo:Seq. % N/A 25 28 22
Memo:Yr/Yr % 515 714 N/A N/A
--------------------
Milestone Fees
--------------------
AHP 1,000 2,000 2,000 2,000 7,000
Boehringer Ingelheim 2,000 2,000 2,000 1,000 7,000
Bayer AG 1,000 1,000 1,000 2,000 5,000
-------------------- ------- ------- ------- ------- -------
Total Fees 4,000 5,000 5,000 5,000 19,000
-------------------- ------- ------- ------- ------- -------
Total Net Revenues 15,678 19,653 23,728 27,803 86,862
================== ====== ======= ======= ======= =======
Product GM (Avg. %) .60 .60 .60 .60 .60
Product GM $ 7,007 8,792 11,237 13,682 40,717
License GM $ 4,000 5,000 5,000 5,000 19,000
-------------------- ------- ------- ------- ------- -------
Total GM $ 11,007 13,792 16,237 18,682 59,717
=================== ======= ======= ======= ======= =======
--------------------
R & D
--------------------
Hylagel/Sur. Adhes/Ph1 600 600 600 600 2,400
Hylasine/EarNose/Ph1 600 600 600 600 2,400
Hylasol/Opth Sur/Ph1 200 200 200 200 800
Other 300 300 300 300 1,200
-------------------- ------- ------- ------- ------- -------
Total R&D 1,700 1,700 1,700 1,700 6,800
-------------------- ------- ------- ------- ------- -------
Memo:1997 (est.) 1,400 1,400 1,500 1,600 5,900
-------------------- ------- ------- ------- ------- -------
--------------------
SG&A
--------------------
Normal 2,000 2,200 2,400 2,600 9,200
Sy England (Biox) 300 500 600 600 2,000
Sy China (Biox) 300 300 400 500 1,400
-------------------- ------- ------- ------- ------- -------
Total SG&A 2,500 3,000 3,400 3,700 12,600
-------------------- ------- ------- ------- ------- -------
Memo:1997 (est.) 1,400 1,900 2,300 2,600 8,200
-------------------- ------- ------- ------- ------- -------
-------------------- ------- ------- ------- ------- -------
Total R&D/SG&A 4,200 4,700 5,100 5,400 19,400
-------------------- ------- ------- ------- ------- -------
-------------------- ------- ------- ------- ------- -------
Inc. from Operations 6,807 9,092 11,137 13,282 40,317
-------------------- ------- ------- ------- ------- -------
Int.Income- Net (4%) 270 313 371 441 1,394
-------------------- ------- ------- ------- ------- -------
EBT 7,077 9,405 11,507 13,723 41,712
-------------------- ------- ------- ------- ------- -------
Tax Prov. (%) .39 .39 .39 .39 .39
Tax Prov. ($) 2,760 3,668 4,488 5,352 16,268
-------------------- ------- ------- ------- ------- -------
EAT 4,317 5,737 7,019 8,371 25,444
================== ======= ======= ======= ======= =======
Cash/Mrt.Sec-BOP 27,000 31,317 37,054 44,073 44,073
================== ======= ======= ======= ======= =======
Shares Outstanding 11,400 11,400 11,400 11,400 11,400
================== ======= ======= ======= ======= =======
E.P.S .38 .50 .62 .73 2.23
================== ======= ======= ======= ======= =======
@ PE / Share Price
-------------------- ------- ------- ------- ------- -------
20 45.00
-------------------- ------- ------- ------- ------- -------
25 56.00
-------------------- ------- ------- ------- ------- -------
30 67.00
-------------------- ------- ------- ------- ------- -------
35 78.00
-------------------- ------- ------- ------- ------- -------
40 89.00
-------------------- ------- ------- ------- ------- -------
Notes:
A.
Amendment 5/29/97 to increase auth. shares
to 60,000,000
from 20,000,000.
Don't know if ratified.
B.
Shares outstanding used in 2nd qtr. 1997 P&L statement.
11,158,098
C.
Ownership at 3/1/97
Endre A. Balazs 2,161,519 20%
Janet I. Denlinger 1,099,085 10%
H. Stuart Campbell 61,248
Rory B. Riggs 600,000 6%
Others 54,000 |
