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Biotech / Medical : Innerdyne -- Why are they still losing money? -- Ignore unavailable to you. Want to Upgrade?

To: Charles W. Breaux, Jr. who wrote (12)	2/3/1998 12:26:00 AM
From: Charles W. Breaux, Jr.	Respond to of 68

'97 Q4 & full-year results: quicken.com "We are extremely pleased with InnerDyne's solid performance in 1997," said William G. Mavity,president and chief executive officer of InnerDyne. "The company recorded a 72 percent increase in total revenues for the second consecutive year, driven primarily by a 56 percent increase in product revenues. In our primary MIS access business, InnerDyne has grown at a multiple of four to five times the estimated industry growth rate for the past two years, and finished with a strong 16 percent sequential increase in the fourth quarter." Mavity continued, "Continuing control of expenses and gross margin improvements enabled an 81 percent reduction in net loss for the year. This improvement, which was aided by revenues from various agreements with InnerDyne's corporate partners, has enabled the company to begin investing in new areas which we hope can potentially provide a second significant business and profit center in the future." Good investing! Chuck