Biosearch Medical Prod. Ticker: BMPI Page 1 of 10
Complete Financials: June 1999 Exchange OTC
FY END DEC
ISSUE DATA (11/26/99) PER SHARE DATA RATIOS
Price $ 0.11 EPS (TTM) $ -0.07 P/E (TTM) NM
52W High $ 0.16 Div. Rate $ 0.00 Yield 0.00 %
52W Low $ 0.11 Book Value $ 0.26 Price/Book 0.42
Shrs Out 2.20 Mil Cash $ 0.03 ROE (TTM) -31.45 %
Float 1.30 Mil Rev (TTM) $ 0.47 ROA (TTM) -15.36 %
Mon. Vol 0.06 Mil Curr. Ratio 2.10
Beta NA LT Dbt/Eqty 0.00
BRIEF: Biosearch Medical Products is an OEM manufacturer
for various medical product companies and manufactures and
distributes its own line of endoscopic products to
hospitals. For the 6 months ended 6/30/99, net sales
decreased 27% to $716K. Net income totalled $489K vs. a
loss of $212K. Revenues reflect the loss of the SIMS
business. Net income reflects the inclusion of a $191K
gain on the sale of fixed assets.
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Biosearch Medical Prod. QUARTERLY SUMMARY Page 2 of 10
HISTORICAL QUARTERLY RESULTS(Thousands of U.S. Dollars)
REVENUE 1996 1997 1998 1999
1st Qtr MAR 593 275 604 218
2nd Qtr JUN 775 402 381 498
3rd Qtr SEP 643 551 186
4th Qtr DEC 638 708 124
EPS (U.S. Dollars per share)
1st Qtr MAR -0.130 -0.120 -0.020 0.180
2nd Qtr JUN -0.130 -0.092 -0.080 0.040
3rd Qtr SEP -0.120 -0.030 -0.110
4th Qtr DEC -0.020 -0.010 -0.180
FY'90 Co. issd. 2.9M sh. for conv. of debt. FY'89 & 90 have
been restated. FY'93 fncls. are N/A. 12/94 = 12 month
totals.
DIVIDENDS EMPLOYEES
Last Dividend Decl. $ NA # Employees 23
Last Div Ex-Date NA Sales/Employee (TTM) 44,609
Last Div Pay Date NA Net. Income/Empl.(TTM) NM
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Biosearch Medical Prod. COMPANY COMPARISON Page 3 of 10
TO THE SCIENTIFIC & TECHNICAL INSTRUMENTS AND S&P 500 AGGREGATES
VALUATION RATIOS: COMPANY INDUSTRY S&P 500
P/E Ratio NM 42.86 37.85
Dividend Yield 0.00 0.35 1.18
Price to Tangible Book 0.42 8.52 12.42
Price to Book 0.42 6.29 9.46
Price to Free Cash Flow -1.21 41.01 46.25
GROWTH STATISTICS:
3 Yr Rev Growth -26.55 11.01 15.40
3 Yr EPS Growth NM -2.96 18.64
3 Yr Div Growth NM 6.03 11.47
Reinvestment Rate 100.00 90.09 73.79
PROFITABILITY RATIOS:
Net Profit Margin -14.52 6.63 11.63
Return on Equity -31.45 13.76 22.40
Interest Coverage NM 12.20 9.49
FINANCIAL STRENGTH RATIOS:
Current Ratio 2.10 2.68 1.48
LT Debt to Equity 0.00 0.34 0.79
Total Debt to Equity 0.00 0.47 1.00
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Biosearch Medical Prod. TRADING & PRICE PERFORMANCE Page 4 of 10
INSTITUTIONAL OWNERSHIP INSIDER TRADING (Prev. 6 months)
% Shares Out. Owned NA % Net Insider Trades NA
# of Institutions NA # Buy Transactions NA
Total Shs Held NA Mil # Sell Transactions NA
3 Mo. Net Purch. NA Mil Net Shares Bought NA Mil
3 Mo. Shs Purch. NA Mil # Shares Bought NA Mil
3 Mo. Shs Sold NA Mil # Shares Sold NA Mil
4 Week Price % Change 4.8% 4 Week Rel. Price % Change 0.8%
13 Week Price % Change -21.4% 13 Week Rel. Price % Change -25.2%
26 Week Price % Change NA% 26 Week Rel. Price % Change NA%
52 Week Price % Change NA% 52 Week Rel. Price % Change NA%
YTD Week Price % Change NA% YTD Week Rel. Price % Change NA%
MARKET MAKERS: HILL MHMY NITE SHRP HRZG WIEN WDCO PGON
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Biosearch Medical Prod. EQUITY, OFFICERS & ADDRESS Page 5 of 10
Common Stock no Par, 6/99, 5M auth., 2,210,798 issd., less
7,920 shares in Treas. @ $31K. Insiders own 28%. Steve N.
Bronson owns 11%. PO 9/86, 1M shs @ $2.25 by Moseley Secs.
Corp. (As of 12/98) The Company reports no ST or LT debt.
*NOTE: 2/92, $770K notes conv. into 1.2M Com. shs. 6/95,
1-for-5 reverse stock split.
OFFICERS: Manfred F. Dyck, Chmn./Pres./CEO, Robert C.
Keller, CFO/CAO/Treas., Robert J. Moravsik, VP/Counsel/
Secy., Martin C. Dyck, VP. TRANSFER AGENT: Bank of New
York. Company incorporated 1975 in NJ. Direct inquiries
to: Robert J. Moravsik, VP/Counsel/Secy.
ADDRESS & PHONE NUMBERS
Biosearch Medical Prod.
35 Industrial Parkway
Somerville, NJ 08876
PHONE: (908) 722-5000
FAX: (908) 722-5024
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Biosearch Medical Prod. ANNUAL INCOME STATEMENT Page 6 of 10
(Thousands of U.S. Dollars)
12M 12/31/95 12M 12/31/96 12M 12/31/97 12M 12/31/98
Net Sales 3,268 2,649 1,936 1,295
Total Revenue 3,268 2,649 1,936 1,295
Cost of Sales 2,778 2,239 1,537 1,271
Sell./Gen./Admin. 1,332 1,223 893 859
Asset Impairment 0 0 0 0
Total Expenses 4,110 3,462 2,430 2,130
Operating Income -842 -813 -494 -835
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Biosearch Medical Prod. ANNUAL INCOME STATEMENT Page 7 of 10
(Thousands of U.S. Dollars)
12M 12/31/95 12M 12/31/96 12M 12/31/97 12M 12/31/98
Operating Income -842 -813 -494 -835
Interest Expense -30 -72 -84 -22
Other, Net 29 1 22 7
Income Before Taxes -843 -884 -556 -850
Income Taxes 0 0 0 0
Income After Taxes -843 -884 -556 -850
Pri/Bas EPS Ex. XOrd -0.383 -0.401 -0.252 -0.386
Extraordinary Item 0 0 0 0
Discontinued Opers. 0 0 0 0
Pri/Bas EPS In. XOrd -0.383 -0.401 -0.252 -0.386
Primary/Basic Avg Sh 2,202.81 2,202.88 2,202.88 2,202.88
Common Dividends/Shr 0.0000 0.0000 0.0000 0.0000
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Biosearch Medical Prod. SELECTED INCOME STATEMENT Page 8 of 10
(Thousands of U.S. Dollars)
QUARTERS YEAR TO DATE
3M 06/30/98 3M 06/30/99 6M 06/30/98 6M 06/30/99
Revenue 381 498 985 716
Operating Expenses 545 560 1,177 969
Operating Income -164 -62 -192 -253
Non-Operating Income 0 150 2 741
Non-Operating Expenses -2 0 -23 0
Income Before Taxes -166 88 -213 488
Income Taxes 0 0 0 0
Adjustments to Income 0 0 0 0
Inc. for Primary EPS -166 88 -213 488
Pri/Bas EPS Ex. XOrd -0.075 0.040 -0.096 0.222
Disc Opns + Xord Items 0 0 0 0
Pri/Bas EPS In. XOrd -0.075 0.040 -0.096 0.222
Primary/Basic Avg Sh 2,202.88 2,202.88 2,202.88 2,202.88
Dilutd EPS Excl XOrd -0.075 0.040 -0.096 0.222
Dilutd EPS Incl XOrd -0.075 0.040 -0.096 0.222
Common Dividends/Shr 0.000 0.000 0.000 0.000
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Biosearch Medical Prod. SELECTED BALANCE SHEET Page 9 of 10
(Thousands of U.S. Dollars)
YEAR ENDING QUARTER ENDING
12/31/97 12/31/98 06/30/98 06/30/99
Cash & ST Investments 14 106 14 64
Receivables 352 79 220 281
Total Current Assets 757 739 887 934
LT Investments 0 0 0 0
Fixed Assets 1,352 152 172 83
Total Assets 2,117 897 1,066 1,021
Accounts Payable 354 253 241 321
ST Debt & Curr LTD 691 0 0 0
Total Current Liab. 1,177 807 338 444
LT Debt & Cap Leases 0 0 0 0
Total Liabilities 1,177 807 338 444
Preferred Stock 0 0 0 0
Common/Paid In Capital 11,130 11,130 11,130 11,130
Retained Earnings -10,159 -11,010 -10,371 -10,521
Total Equity 940 89 728 578
Shares Outstanding 2,203 2,203 2,203 2,203
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Biosearch Medical Prod. SELECTED STMT OF CASH FLOWS Page 10 of 10
INDIRECT METHOD (Thousands of U.S. Dollars)
ANNUAL YEAR TO DATE
12M 12/31/97 12M 12/31/98 6M 06/30/98 6M 06/30/99
Net Income -556 -851 -212 489
Depreciation & Amort. 91 60 39 16
Non Cash Items -3 0 0 -191
Total Operating CF -310 96 3 -286
Capital Expenditures -35 -5 -3 -5
Total Investing CF 11 -5 -3 245
Dividends Paid 0 0 0 0
Sale (Purch.) of Stock 0 0 0 0
Net Borrowings -8 0 0 0
Total Financing CF -8 0 0 0
Exchange Rate Effect 0 0 0 0
Net Change In Cash -307 91 -1 -42
Oper CF-Cap Exp-Div Pd -345 91 0 -291
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