BPRX=new patent, EGAM update>>
CARMOL(R) 40 U.S. Patent Allowed; Studies Under Way;
Preliminary Findings Determine CARMOL(R) 40's Superior Efficacy vs. The Leading Prescription Tissue-Softener
FAIRFIELD, N.J., April 20 /PRNewswire/ -- Bradley Pharmaceuticals, Inc. (Nasdaq: BPRX - news) today announced it has received a notice of allowance from the U.S. Patent and Trademark Office for a patent for its CARMOL® 40 product line, covering its proprietary urea formulation and use.
The patent describes therapeutic applications for CARMOL® 40 for use as an important part of comprehensive dermatological care.
Bradley Pharmaceuticals, Inc. Chairman & CEO, Daniel Glassman, stated, ''This patent offers additional protection as we continue to learn more about the product's benefits. Moreover, ongoing studies conducted by Dr. John Ademola of Biometrix Inc., San Francisco, CA, an independent testing laboratory, compare CARMOL® 40 with the leading brand in the category, a product which generates an estimated $50 million in annual revenue. Interim results, based upon two weeks of therapy, are promising in terms of comparative product performance. We expect this study to be completed and published, based upon four weeks of data, within the next few months. CARMOL® 40, as well as many of our other products, are available at leading pharmacies nationwide, including through the internet at drugstore.com.''
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eGames, Inc. Announces Results for Third Quarter and First Nine-Months Of Fiscal 1999
Key 3Q Operating Highlights: -- Company changes name from RomTech to eGames -- Company enters into new distribution and marketing agreement with Digital River for Electronic Software Delivery (ESD) -- Hits to www.eGames.com web page increase online sales by 240% -- Company repurchases 201,900 shares of eGames' stock at an average price of $1.94
NINE MONTH RESULTS
Sales for the nine months ended March 31, 1999 increased 17.6% to $8,639,041, versus sales of $7,344,727 for the same period a year earlier. Net income for the first nine-months of fiscal 1999 was $1,325,589, or $0.13 per diluted share, versus net income of $1,269,067, or $0.13 per diluted share, for the comparable nine month period of fiscal 1998. Of note, bottom- line results for the first nine months of fiscal 1999 reflect a significantly increased tax rate over that of the first nine months of fiscal 1998.
Diluted earnings per share for the first nine months of fiscal 1999 have already exceeded the $0.12 diluted per share earnings reported for full-year fiscal 1998, reflecting the effective implementation of the Company's focused business strategy. Management remains comfortable with its previously revised earnings' goal of between $0.18 and $0.20 for the 1999 fiscal year.
As of March 31, 1999, the Company's balance sheet remained strong with $1.8 million in cash and cash equivalents and $367,000 in long-term debt. Long-term debt is down slightly from approximately $415,000 at March 31, 1998. As of March 31, 1999, the Company's long-term debt to equity ratio was 8.6%.
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