All: From Yahoo here is More News ... Earnings!
Hmmm, Revenue DOWN ... ... Expenses DOWN ... ... profit UP!!!!
Monday May 11, 8:23 am Eastern Time
Company Press Release
ImmuDyne Inc. Announces Second Quarter Results and Selection of Accounting Firm
HOUSTON--(BW HealthWire)--May 11, 1998--ImmuDyne Inc. (''ImmuDyne'' or the ''Company'') announced results for the second quarter ending February 28, 1998. Revenues for the quarter were $486,553, as compared to $607,111 for the quarter ending February 28, 1997. The Company had a net profit of $65,977 for the quarter ending February 28, 1998 compared to a profit of $1,195 for the same period of the prior year. Total operating expenses decreased to $292,621 for the quarter ended 2/28/98, down from $453,754 for the same period last year. Management emphasized the continued path of strong expense control toward building a firmer foundation for the Company.
The Company also announced that Mazars and Guerard, LLP, of New York, NY, has been selected as the Company's Certified Public Accountants. The firm is a member of the Securities and Exchange Commission section of the AICPA and has more than 3,000 employees in 30 countries worldwide. Dr. Leonid Ber, COO, stated, ''We are pleased to have received the confidence expressed by such a large reputable international accounting firm.'' Mazars and Guerard has commenced an audit of the Company for the fiscal year ending August 31, 1997. A report of the audit should be made available to shareholders within 60 days.
''Safe Harbor'' Statement under the Private Securities Litigation Reform Act of 1995. The statements which are not facts contained in the release are forward-looking statements that involve risks and uncertainties, some of which are outside the Company's control, and accordingly, actual results may differ materially. Factors that might cause such a difference include, but are not limited to, implementation of the Company's strategies, the impact of competitive and industry developments, the results of research and development efforts by the Company, product development by the Company and customer acceptance of the Company's products and services.
ImmuDyne is a Texas based company specializing in macrophage technology and immune systems stimulants for cosmetic, human nutritional and aquacultural use. The common stock of ImmuDyne is traded on the OTC Bulletin Board under the symbol IMMD. For investment information, contact the Company at 713/783-7034.
Contact:
ImmuDyne Inc., Houston
713/783-7034 |
