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Biotech / Medical : Misonix Inc. (MSON) -- Ignore unavailable to you. Want to Upgrade?

To: md1derful who wrote (847)	11/18/1998 2:51:00 AM
From: Beltropolis Boy	Respond to of 947

the full quarterly is now available. an excerpt on the "bad debt." Bad Debt Expense: Bad debt expense increased from none in the three months ended September 30, 1997 to $1,715,000 in the three months ended September 30, 1998. On October 22, 1998, the Company announced that it had reserved for possible bad debts of $1,700,000 against accounts receivable due and owing by Medical Device Alliance, Inc. and its wholly-owned subsidiary, Lysonix, Inc., as Licensees for the Misonix ultrasonic soft tissue aspirator. A letter of default on the license agreement with these parties was contemporaneously transmitted by the Company. Without the effects of this charge , the Company would have reported net income of $1,420,353, or $.22 diluted earnings per share for the three months ended September 30, 1998 as compared to net income of $907,628, or $ .13 diluted earnings per share for the three months ended September 30, 1997. Due to this charge, the Company reported a net loss of $279,647, or $ (.05) diluted earnings per share for the three months ended September 30, 1998 as compared to net income of $907,628, or $ .13 diluted earnings per share for the three months ended September 30, 1997. sec.gov

To: md1derful who wrote (847)	12/7/1998 10:19:00 AM
From: Beltropolis Boy	Read Replies (1) \| Respond to of 947

Misonix Announces Another Significant Order for its Mystaire Air Pollution Control Division Business Wire - December 07, 1998 08:50 FARMINGDALE, N.Y.--(BUSINESS WIRE)--Dec. 7, 1998--Misonix, Inc. ("Misonix") (Nasdaq: MSON) today announced that its Mystaire Air Pollution Control division has received another order for $860,000 to supply a gas treatment system to the same mining metallurgical operating company which placed the $1.4 million order last month. This system is also designed to absorb and cool acid gases produced during various refining operations. Misonix's Mystaire division specializes in designing and manufacturing customized air pollution control systems. Michael A. McManus, Jr., President and Chief Executive Officer of Misonix said, "The Mystaire Division will continue to pursue opportunities of this magnitude. Our recent success is due, in large part, to our in-house expertise and unique capabilities in this marketplace." The Company also reported that, while the net loss for the Company's first quarter ended September 30, 1998 was correct as reported, the estimated figure of a profit of $.22 per share absent the bad debt write-off did not take into account tax effects, which would have reduced that figure to approximately $.11 per share.