VERY BIG NEWS DICK!!!!!! MSON WITH 18CENTS / share..thats a record!!!
Misonix announces strong second quarter
FARMINGDALE, N.Y. (Jan. 22) BUSINESS WIRE -Jan. 22, 1997--Misonix Inc.
(NASDAQ: MSON) today reported increased net sales for the six months
ended Dec. 31, 1996 over the comparable period a year ago.
Net sales, which relate to the company's medical devices and scientific
and industrial products, increased 48% to $6,403,277 from $4,327,872 in
the comparable six months last year, reflecting continued demand for
the company's industrial and scientific products and increased sales of
the company's Ultrasonic Soft Tissue Aspirator. The company generated
net income of $975,207 for the six month period or 33 cents per share,
as compared to a $119,075 net loss, or (4 cents) per share, a year
earlier. The net income is due to increased medical device sales,
significant growth in domestic sales of the company, economies of scale
relative to this growth, and the resulting increase in gross profit.
For the three months ending Dec. 31, 1996, net sales were $3,613,443,
up 62% from $2,224,646 a year ago. The company recorded net income of
$549,745, or 18 cents per share for the quarter compared to a net loss
of $43,612, or (2 cents) per share for the same quarter a year earlier.
Misonix Inc. develops, manufactures and markets medical devices,
scientific and industrial ultrasonic instruments and air pollution
control systems. -0-
Misonix Inc. and Subsidiaries
Comparative Results
(000'S omitted, except per share figures)
Three Months Ended Six Months Ended
December 31, December 31,
1996 1995 1996 1995
Net sales $ 3,613 $ 2,225 $ 6,403 $ 4,328
Cost of goods sold 1,756 1,189 3,114 2,348
Gross profit 1,857 1,036 3,289 1,980
Selling general and
administrative expense 1,281 1,045 2,364 2,025
Research and development 63 54 98 109
Total operating expenses 1,344 1,099 2,462 2,134
Income (loss) from operations 513 (63) 827 (154)
Other income 42 20 155 41
Income (loss) before
minority interest 555 (43) 982 (113)
Minority interest in net income of
consolidated subsidiary (5) (1) (7) (6)
Net income (loss)(a) 550 (44) 975 (119)
Net income (loss) per share(b) $ .18 $ (.02) $ .33 $ (.04)
Weighted average shares and
share equivalents outstanding 2,975 2,800 2,971 2,800
(a) Net income does not include income taxes due to the use of net
operating loss carryforwards (b) The earnings per share calculation
does not take into effect a
potential non cash financial accounting charge relating to options
to acquire 519,000 shares granted to outside directors, the
effectiveness of which is subject to shareholder approval
--30--gd/ny*
CONTACT: Misonix Inc., Farmingdale
Peter Gerstheimer, 516/694-9555
KEYWORD: NEW YORK INDUSTRY KEYWORD: MEDICINE ENVIRONMENT ENMED
EARNINGS REPEATS: New York 212-752-9600 or 800-221-2462; Boston
617-236-4266 or
800-225-2030; SF 415-986-4422 or 800-227-0845; LA 310-820-9473
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