John and Anax,
Key words that rang in my head after reading the last 2 posts are short interest, POSS, R&D and Medical devices.
POSS announced prelim (meaning unaudited and NOT final) Q4 1997 results. It seems that sales are increasing, but not enough to overcome the R&D, SG&A and other costs of running a business. I suspect companies like POSS that rely on FDA approval for their medical devices are not going to explode overnight, since the medical and surgical community doesn't change or adapt to changes overnight. A drug on the other hand I would be more worry about.
biz.yahoo.com
MINNEAPOLIS, Aug. 26 /PRNewswire/ -- Possis Medical, Inc. (Nasdaq: POSS - news) announced today preliminary, unaudited fourth quarter and 1998 results. Total revenue for the fourth quarter and year ended July 31, 1998 was approximately $1,756,000 and $6,118,000, respectively, compared to $1,208,000 and $4,834,000 in the same 1997 periods. The estimated loss per share for the three and twelve month periods ended July 31, 1998 was $.28 and $.98 per share, respectively, vs. $.24 and $.70 per share in the same 1997 periods.
Robert Dutcher, president and CEO stated, ''U.S. AngioJet(R) System sales in the fourth quarter of $1,756,000 are up 10% from the prior quarter. In May, to spur sales and product usage, we reduced the U.S. AngioJet drive unit hospital price from $80,000 to $25,000 and introduced our AV60 catheter, a lower priced and more competitive catheter for removing blood clots from dialysis access grafts. As a result, we sold 14 drive units in the fourth quarter, compared to 13 in the three prior quarters combined; and we sold 1,409 catheters in the 1998 fourth quarter, up 21% from catheter sales in the 1998 third quarter. Cumulatively, in the U.S., by the close of fiscal 1998 we had placed nearly 200 drive units and sold over 5,000 disposable sets (catheter plus pump).'' |
