Earnings announced:
Subj: Theragenics Corporation Reports Revenues and Earnings...
Date: 7/21/98 8:12:43 AM Central Daylight Time
From: AOL News
Theragenics Corporation Reports Revenues and Earnings For Second Quarter 1998
NORCROSS, Ga.--(BUSINESS WIRE)--July 21, 1998--Theragenics Corporation (NASDAQ symbol THRX), the Norcross-based cancer treatment producer, today announced record revenues and earnings for the second quarter ending June 30, 1998. Revenues for the quarter were $8,713,860 compared to $6,172,499 for the same period last year, a 41 percent increase. Net income increased 53 percent to $3,333,429 from $2,182,331 with earnings per share improving to $0.11 versus $0.08 in the comparable prior year period.
For the six months ended June 30, 1998, revenues were $16,994,807 versus $10,279,857, a 65 percent improvement over the first six months last year. Net income grew 102 percent to $6,633,985 from $3,291,325 with earnings per share of $0.23 versus $0.13.
Commenting on the quarter Christine Jacobs, chairman, president and CEO, said, "We've had another record quarter. It once again proves Theragenics' ability to build on its history of profitable operations. We completed the construction of the first phase our new production facility which is now in operation. Cyclotron number five is running, number six is nearing the completion of its installation process and number seven has arrived. Upon completion, our 1998 expansion program will effectively double our manufacturing capacity in order to meet the continuing demand for TheraSeed(R).
"Although we have concentrated on the domestic market in the past, receiving our CE Mark and shipping our first seeds to Europe in May, represents a new opportunity to cure men of prostate cancer in global markets."
Except for historical information contained herein, the matters discussed in this press release, are forward looking statements, the accuracy of which is necessarily subject to risks and uncertainties. Actual results may be affected by, among other things, risks and uncertainties related to new process development cycles, potential costs and delays in capacity expansion, research and development activities, continued acceptance of the product by the market, introduction and/or availability of competitive products by others, third party reimbursement, physician training, and other factors set forth from time to time in the Company's Securities and Exchange Commission filings.
Theragenics Corporation, based in Norcross, GA, is the manufacturer of TheraSeed(R) - palladium 103, a rice-sized device used in the treatment of localized prostate cancer with a one-time, minimally invasive procedure. For additional information on the Company, call Theragenics' Investor Relations Department at (800) 998-8479. The Company's common stock is traded on the NASDAQ stock exchange under the symbol THRX. -0- *T
THERAGENICS CORPORATION
CONSOLIDATED STATEMENT OF OPERATIONS
Three Months Ended Six Months Ended
June 30, June 30, June 30, June 30, 1998 1997 1998 1997
Revenues $8,713,860 $6,172,499 $16,994,807 $10,279,857 Net Income $3,333,429 $2,182,332 $ 6,633,985 $ 3,291,326 Earnings Per Common Share - Basic $ .11 $ 0.08 $ .23 $ 0.13 Earnings Per Common Share - Diluted $ .11 $ 0.07 $ .22 $ 0.12 Weighted Average Shares Outstanding
- Basic 29,190,950 28,458,975 29,138,098 26,065,340 Weighted Average Shares Outstanding
- Diluted 30,479,196 29,459,065 30,466,123 27,110,884
Note: Per share amounts reflect the Company's April 15, 1998, 2-for-1
stock split. *T
CONTACT:
Theragenics Corp., Norcross
Ron Warren - Director of Investor Relations
phone 800.998.THRX (8479)
or 770.381.8338
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