This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Bovie Medical Corporation Announces Second Quarter Financial Results

Second graph of release should read: ... resulting in net income of $55,763 or $0.00 per diluted share as compared to net income of $206,672 or $.01 per diluted share in the same period last year (sted ... resulting in net income of $34,063 or $0.00 per diluted share ...).

The corrected release reads:

BOVIE MEDICAL CORPORATION ANNOUNCES SECOND QUARTER FINANCIAL RESULTS

Bovie Medical Corporation (the “Company”) (NYSE Amex: BVX), a manufacturer and marketer of electrosurgical products, today announced its financial results for the second quarter and six months ended June 30, 2010.

Revenues for the second quarter ended June 30, 2010 totaled $5,896,909 versus $6,831,578 for the comparable period last year; resulting in net income of $55,763 or $0.00 per diluted share as compared to net income of $206,672 or $.01 per diluted share in the same period last year.

Revenues continued to be affected by a decline in OEM ablator business although somewhat offset by increased international and disposable sales. Net income was impacted by costs associated with the closing of the Company’s Canadian facility, new employees, increased professional services and higher expenses related to the development of new products. The Company recorded a gain of approximately $617,165 primarily resulting from the change in value of the warrant liability related to its private placement in April 2010.

Revenues for the six months ended June 30, 2010 were $11,496,016 versus $14,048,901 for the comparable period last year; resulting in net loss of $(170,010) or $(0.01) per diluted share as compared to net income of $605,885 or $.03 per diluted share in the same period in the prior year.

Andrew Makrides, president of Bovie, stated, “During the second quarter significant progress was made in the development of our new products and technologies. We remain focused on bringing these new products to market as quickly as possible. We are encouraged with the progress being made on the J-Plasma™ technology and anticipate a new 510(k) application and patent filings, based on enhancements to our J-Plasma™ system. Marketing clearance was previously granted for its use in general surgery.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
BVX $3.38 0.00%
AAPL $128.46 0.00%
FB $78.97 0.00%
GOOG $558.40 0.00%
TSLA $203.34 0.00%

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs