Sales up 31% year over year, running at $700K/year, as of 9/30/96. Looks good (to me), and addresses part of that "steady erosion" issue that was mentioned previously. I've seen the annual, but I never saw fourth quarter, fiscal '96 as a seperate entity. Does anyone have it? For quarter over quarter?
Rick
Cistron Sales Increase in First Quarter
PINE BROOK, N.J., Nov. 20 /PRNewswire/ -- Cistron Biotechnology, Inc.
(OTC Bulletin Board: CIST) today announced operating results for the first
quarter ended September 30, 1996.
Sales for the three-month period were $175,480 compared to $133,834 in
fiscal 1995. Net loss was $241,139 or a loss of 1 cent per share versus a net
loss of $84,740 and less than 1 cent per share in last year's first quarter.
Cistron attributed the net loss primarily to increased legal and
consulting expenses associated with the company's lawsuits against Immunex
Corp. (Nasdaq: IMNX), a subsidiary of American Home Products (NYSE: AHP), and
PeproTech, Inc.
On October 29, Immunex and two of its former officers agreed to pay
Cistron $21 million to settle all of Cistron's claims against the defendants.
The initial payment of $11 million was made to Cistron in mid-November.
Cistron's primary product area is immune response regulators known as
lymphokines. The company manufactures and sells lymphokine and lymphokine
assay kits to pharmaceutical companies, the government and academic
institutions in North America, Europe and the Pacific Rim for cancer,
arthritis and other autoimmune disease research.
CISTRON BIOTECHNOLOGY, INC.
FINANCIAL SUMMARY
Three months ended Sept. 30
1996 1995
Net Sales $ 175,480 $ 133,834
Net Loss $(241,139) $ (84,740)
Net loss per share $ (.01) --
Weighted Average Number
of Shares Outstanding 26,884,990 26,882,990
CONTACT: Harold Smith for Cistron Biotechnology, 800-743-6632 |
