Biospherics Reports Improved Third Quarter Results And FDA Acceptance of Tagatose
Caloric Value
PR Newswire, Tuesday, November 16, 1999 at 16:56
BELTSVILLE, Md., Nov. 16 /PRNewswire/ -- Biospherics Incorporated (NASDAQ:BINC),
Turning to tagatose, the Company today reported that it received word from MD Foods, its
licensee of Biospherics' patented low-calorie sweetener, that the US FDA has approved labeling of
tagatose as containing 1.5 kilocalories per gram. This value, requested by MD Foods, will permit
products containing tagatose to be termed "reduced calorie," the category of interest to the makers of
those products. With the anticipated approval of tagatose as GRAS (Generally Recognized As Safe)
by MD Foods' expert panel, all regulatory hurdles will have been cleared for commercialization of the
product.
Under its motto, "Technologies for Information and Health," Biospherics' mission is to provide
guidance and products to improve the quality of life. Biospherics offers telecommunications call
centers, information systems, database management, and proprietary food and medical innovations.
The Internet address is: biospherics.com.
SOURCE Biospherics Incorporated
-0- 11/16/1999
/CONTACT: Robert Clayton, Controller of Biospherics Incorporated, 301-419-3900/
/Web site: biospherics.com
Companies or Securities discussed in this article:
Symbol
Name
NASDAQ:BINC
Biospherics
Beltsville, Maryland, today reported loss
1998, reduced to half in the first quarter of 1999 with a loss of $928,000, again reduced to half in the
second quarter of 1999 with a loss from operations of $484,000 (net loss of $842,005 was due to a
$357,633 tax carry-forward from 1998), and the realization of a profitable third quarter for 1999. The
Company's third quarter results are the best attained in the past four years, despite carrying
significantly more leverage from the Company's technology investments. The third quarter 1999 profits
of $62,000 from operations, $17,000 net income, are contrasted to 1998 third quarter results of a
$517,000 loss from operations, nearly a $600,000 improvement. The Company is currently negotiating
on several new commercial and government contracts and anticipates seeing results of these efforts
in the fourth quarter of 1999 and first quarter of 2000.
Three Months Ended Nine Months Ended
September 30, September 30,
1999 1998 1999 1998
Revenue $3,473,073 $4,718,123 $10,022,347 $13,748,156
Operating expense 3,411,052 5,235,596 11,372,458 13,867,926
Income (loss)
from operations 62,021 (517,473) (1,350,111) (119,770)
Net income (loss) $17,627 $(354,024) $(1,818,192) $(126,880)
Net income (loss)
per share $0.00 ($0.04) ($0.19) ($0.01)
Turning to tagatose, the Company today reported that it received word from MD Foods, its
licensee of Biospherics' patented low-calorie sweetener, that the US FDA has approved labeling of
tagatose as containing 1.5 kilocalories per gram. This value, requested by MD Foods, will permit
products containing tagatose to be termed "reduced calorie," the category of interest to the makers of
those products. With the anticipated approval of tagatose as GRAS (Generally Recognized As Safe)
by MD Foods' expert panel, all regulatory hurdles will have been cleared for commercialization of the
product.
Under its motto, "Technologies for Information and Health," Biospherics' mission is to provide
guidance and products to improve the quality of life. Biospherics offers telecommunications call
centers, information systems, database management, and proprietary food and medical innovations.
The Internet address is: biospherics.com.
SOURCE Biospherics Incorporated
-0- 11/16/1999
/CONTACT: Robert Clayton, Controller of Biospherics Incorporated, 301-419-3900/
/Web site: biospherics.com
Companies or Securities discussed in this article:
Symbol
Name
NASDAQ:BINC
Biospherics
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