IGTI (Nasdaq)
6 insts own 35% of the shares,, 1.2 mill float,, with upside potential..
IGTI is high technology manufacturer of cutting edge hand-held electro-optical 3-dimensional position input devices for medical and industrial applications. Though a start up company, they have managed to achieve profitability and are now incorporating significant growth. The first quarter of 1998 showed a revenue increase of 221% over the same Q of 1997. They did lose profitability for this Q because of various costs associated with their recent acquisition. The stock has a very attractive float of only 1.2MM and a market cap of only 8MM. Book value is 1.97 and the stock is selling at 2. Downside is limited as the low for the last year was 1.50 while the high was 7.
WEBSITE AT www.imageguided.com
Business Summary
Image Guided Technologies designs, develops, manufactures and markets proprietary, hand-held electro-optical 3-dimensional position input devices for medical and industrial applications. For the nine months ended 9/30/97, revenues rose 31% to $3.8 million. Net income rose 7% to $243 thousand. Results reflect greater demand for the Company's FlashPoint 5000 and Pixsys 5000 products, partially offset by the addition of engineering personnel and related expenses.
Statistics at a Glance -- IGTI Last Updated: Apr 9, 1998
Price and Volume
(updated Apr 9, 1998)
52-Week Low $1.50
Recent Price $2.688
52-Week High $7.00
Beta N/A
Daily Volume (3-month avg) 6,909
Share-Related Items
Market Capitalization $8.37M
Shares Outstanding 3.8M
Float 1.20M
Book Value 1.97
Friday April 17, 7:15 am Eastern Time
Company Press Release
SOURCE: Image Guided Technologies, Inc.
Image Guided Technologies Announces First Quarter Results
BOULDER, Colo., April 17 /PRNewswire/ -- Image Guided Technologies, Inc. (Nasdaq: IGTI - news; BSE: IGK - news) today reported record quarterly revenue of $3,763,000 for the first quarter ended March 31, 1998, an increase of 221% over revenue of $1,172,000 in the comparable period in 1997. The Company also reported a net loss of $326,000 for the first quarter of 1998 compared to net income of $75,000 in the first quarter of 1997.
Paul Ray, Chairman and CEO commented, ''During the first quarter following the acquisition of Brimfield Precision, Inc., management has focused on activities associated with the integration of the two companies, including the design, manufacture, and marketing of image guided surgical instruments which are to be manufactured at Brimfield's facilities. Additionally, in April, the Company restructured $5.1 million in debt with BankBoston, extinguishing debt issued to another bank to finance the acquisition of Brimfield. The reduced principal payments resulting from this financing should allow the Company to capitalize on the synergies between Image Guided Technologies, Inc. and Brimfield Precision, Inc. The Company anticipates that its results for the second quarter of 1998 will include a non-recurring, non-cash expense of approximately $400,000 related to the aforementioned debt transaction.''
Selected Financial Information (unaudited)
First Quarter 1998 First Quarter 1997
Revenue $3,763,000 $1,172,000
Gross profit 1,355,000 618,000
Operating expenses 1,509,000 607,000
Other income (expense) (172,000) 64,000
Net income (loss) $(326,000) $75,000
Earnings (loss) per share
(basic) $(0.09) $0.02
Earnings (loss) per share
(diluted) $(0.08) $0.02
Weighted Average Common Shares
Outstanding (basic) 3,693,822 3,106,024
Weighted Average Common Shares
Outstanding (diluted) 3,846,640 3,609,054
Image Guided Technologies designs, develops, manufactures and markets products for real-time, precise, free-hand, localization of points in 3D space. In medical applications, FlashPoint(R) determines the position of specially designed surgical instruments relative to a patient's anatomy and CT or MR images during image guided surgical procedures. In industrial applications such as parts inspection and motion tracking, the Company's Pixsys(TM) localizer measures the position or shape of objects in 3D space. Brimfield Precision, Inc. is an ISO 9001 certified manufacturer of general and minimally invasive surgical instruments, and orthopedic implants.
Wednesday March 18, 7:15 am Eastern Time
Company Press Release
SOURCE: Image Guided Technologies, Inc.
Image Guided Technologies, Inc. Announces Record Fourth Quarter And Full Year Revenue
BOULDER, Colo., March 18 -- Image Guided Technologies, Inc. (Nasdaq: IGTI; BSE: IGK) today released financial results for its fourth quarter and results for its fiscal year ended December 31, 1997.
For the fourth quarter 1997, the Company reported record revenue of $1,883,000, up 61% from $1,168,000 for the fourth quarter 1996. Net income for the quarter was $16,000, or earnings per share of less than $0.01, compared to net income of $127,000 or $0.05 per share, for the fourth quarter last year.
For the 1997 fiscal year, revenue was $5,713,000, a 40% increase over fiscal 1996 revenue of $4,080,000. Net income for 1997 was $260,000, or $0.07 per share, compared to net income of $355,000 or $0.16 per share in fiscal 1996.
''IGT's growth in 1997 was driven by the continued expansion of the image guided surgery market, to which IGT supplies optical localization technology,'' said Paul Ray, Chairman and CEO. ''In addition to obtaining new OEM customers in this market, the Company experienced growth in the number of non-medical OEM customers. The highlight of 1997 was the December acquisition of Brimfield Precision, Inc., an ISO 9001-certified manufacturer of surgical instruments and implants. As a result of this acquisition, the Company will improve its position in the image guided surgery market by providing a line of image guided instruments to its existing customers.''
SELECTED FINANCIAL INFORMATION
(Unaudited)
Three Months Ended Years Ended
December 31, December 31,
1997 1996 1997 1996
Revenue $1,883,000 $1,168,000 $5,713,000 $4,080,000
Gross Profit 897,000 621,000 3,056,000 2,244,000
Operating Expenses 871,000 539,000 2,963,000 1,877,000
Other Income (Expense) (9,000) 45,000 166,000 (12,000)
Net Income $16,000 $127,000 $260,000 $355,000
Earnings per Share
- Diluted --- $0.05 $0.07 $0.16
Image Guided Technologies designs, develops, manufactures and markets products for real-time, precise, free-hand, localization of points in 3D space. In medical applications, FlashPoint(R) determines the position of specially designed surgical instruments relative to a patient's anatomy and CT or MR images during image guided surgical procedures. In industrial applications such as parts inspection and motion tracking, the Company's Pixsys(TM) localizer measures the position or shape of objects in 3D space. Brimfield Precision, Inc. is an ISO 9001-certified manufacturer of general and minimally invasive surgical instruments, and orthopedic implants.
This news release contains forward-looking statements which involve risks and uncertainties including, but not limited to economic conditions, product demand, competitive products and pricing, protection of proprietary information and technology and regulatory actions by the US Food and Drug Administration. Visit our website at www.imageguided.com.
SOURCE: Image Guided Technologies, Inc.
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Tuesday March 3, 8:15 pm Eastern Time
Company Press Release
SOURCE: Image Guided Technologies, Inc.
Image Guided Technologies, Inc., Presents at Cruttenden Roth 10th Annual Growth Stock Conference
DANA POINT, Calif., March 3 /PRNewswire/ -- Image Guided Technologies, Inc. (Nasdaq: IGTI - news; BSE: IGK - news), of Boulder, CO, is the worldwide leader in the design and manufacture of real-time, precise, free-hand optical localizer systems. These systems employ LEDs affixed to specially designed instruments, a camera sensor array, and proprietary, microprocessor-based software to precisely locate points in three-dimensional space. IGT's FlashPoint(R) optical localizer is sold on an OEM basis to a variety of medical equipment companies offering products for use in the exciting new field of image guided surgery. The Company's Pixsys(TM) localizer is used to measure the position or shape of objects in 3-D space in a number of industrial applications, such as parts inspection and motion tracking. The Company also recently acquired Brimfield Precision, Inc., a manufacturer of high quality surgical instruments and orthopedic implants used for spinal surgery, orthopedic surgery, and minimally invasive surgical procedures.
IGT's localizer is an input mechanism that provides real-time mathematical coordinates to a host computer. The FlashPoint and Pixsys systems determine the position of hand-held surgical instruments or probes in relation to the patient or object being measured by tracking the coordinates of each affixed LED in three dimensions. This information is translated into different formats depending on the application; in medical uses, the position of the instrument is displayed relative to the patient's anatomy, and in industrial uses, the measurements of the object are typically imported into CAD programs for use in quality control or reverse engineering procedures.
The FlashPoint 5000 optical localizer is designed as an essential component in stations used for image guided surgery, a rapidly growing minimally invasive surgical procedure. FlashPoint allows surgeons to precisely track surgical instruments in relation to a patient's anatomy. Prior to surgery, data from the FlashPoint system is overlaid on CT or MR images entered previously, and a pre-operative surgical plan is developed. This plan enhances navigation during the surgical procedure and increases surgeon confidence, speed and precision. Because surgeons can precisely locate the location of tumors or other pathologies and thereby decrease the size of incisions, the use of FlashPoint in image guided surgery stations can improve patient outcomes, reducing the length of hospital stays and associated costs. With the acquisition of Brimfield Precision, IGT plans to introduce through its OEM customers an improved product offering of instruments, specially designed for image guided surgical applications.
Currently, the FlashPoint system is incorporated in image guided surgery systems used to perform procedures in neurosurgery and interventional radiology, while other promising applications such as orthopedic and ear/nose/throat surgery are being investigated. There are over 12,000 specialty (non-cardiac) operating rooms worldwide in which the FlashPoint system and a host image guided surgery station could be incorporated. At present, there are over 400 FlashPoint systems in use worldwide.
This news release contains forward-looking statements which involve risks and uncertainties including, but not limited to economic conditions, product demand, competitive products and pricing, protection of proprietary information and technology and regulatory actions by the US Food and Drug Administration.
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