Denise, heres a copy of what was posted for their 2Q results hope it helps.....thanx again.
February 6, 1998
Second Quarter Financial Results
LASER REJUVENATION CLINICS LTD ("ZAP.A-Y")
- Second Quarter Financial Results
Laser Rejuvenation Clinics Ltd. is pleased to report the conclusion of the second quarter of fiscal 1998 with consolidated
revenues for the three months ended December 31, 1997 of $427,800. This represents an increase in excess of 380 percent
over the comparative period of fiscal 1997 of which the Company realized revenues of $88,300. Consolidated revenues for the
six month period ended December 31, 1997 were $717,200, an increase of 48 percent over the previous quarter of fiscal
1998. In the industry, the second half out performs the first half of the fiscal year due to the seasonal nature of the procedures
performed.
The operating structure of the Company is currently two fully operational clinics in Toronto and Calgary and an administrative
head office. The Company's Calgary clinic showed an operating profit of $173,300 for the six months ended December 31,
1997. The Toronto clinic became fully operational in July 1997, contributing revenue in excess of $120,000 during the clinic's
six month start-up period. Corporate head office overheads amounted to $164,700 for the six month period.
Management anticipates that it takes approximately 12 to 18 months for a new start-up clinic to become operationally
profitable, of which the Toronto clinic has been operating for only a six month period. The start-up of the Toronto clinic,
combined wit the seasonal nature to which particular cosmetic laser procedures are ideally conducted, resulted in a
consolidated net loss of $89,053 or $0.01 per share for the six month period ended December 31, 1997.
The Company has a strong working capital position in excess of $1,391,000 attributable to the net proceeds from the
Company's Initial Public Offering of Class A common shares on December 22, 1997. The shares of Laser Rejuvenation Clinics
Ltd. commenced trading on the Alberta Stock Exchange on January 12, 1998 under the symbol ZAP.A. The Company
expects to open its third clinic in Vancouver in March 1998. The Company has a strong balance sheet and operations which
will assist in allowing continued clinic expansion and the investment in leading edge technology.
TEL: (403) 247-8273 Howard J. Coren, C.E.0., or Gary Boyes,
Manager, I.R. FAX: (403) 202-4069 E-MAIL: lrcho@netcom.ca |
