This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Oculus Innovative Sciences Updates Guidance: Faster Path To Positive EBITDAS As Result Of Recent Partnership

Stocks in this article: OCLS

For quarter beginning Oct 1. 2012:

  • Reduced SG&A by approximately $3 million annually due to transfer of Mexico marketing and sales function to More Pharma
  • Guidance for quarterly cash operating expenses reduced 15% to the range of $2.5 million
  • Positive EBITDAS to be achieved on quarterly revenues of between $3.7 million and $4 million
  • Increased cash position of nearly $8 million projected for the end of September as result of More Pharma's $5.1 upfront payment

PETALUMA, Calif., Sept. 20, 2012 (GLOBE NEWSWIRE) -- Oculus Innovative Sciences, Inc. (Nasdaq:OCLS), a commercial healthcare company that designs, produces and markets innovative, safe and effective healthcare products, today announced the finalization of transition of marketing and sales to More Pharma in Mexico, thus reducing Oculus' guidance for quarterly cash operating expenses 15% to the range of $2.5 million for the quarter beginning October 1, 2012. With the reduction of expenses effective in late August, operating expenses for the quarter ending September 30, 2012, will include some sales and marketing, severance and transition costs. The reduction of cash operating expenses shortens the company's projected timeline to achieve positive EBITDAS, which is anticipated once quarterly revenues are in the range of $3.7 million to $4 million.

In an effort to expand commercialization of Microcyn Technology, More Pharma is now preparing regulatory filings for approval of the Microcyn® Technology in six Latin American and Caribbean countries including El Salvador, Dominican Republic, Guatemala and Jamaica. An update on this partnership as well as guidance on the annual rate of revenue growth will be included in Oculus' Q2 2013 earnings call to be held on November 1, 2012.

"The partnership with More Pharma is a strategically prudent initiative that provides Oculus with multiple upsides," Bob Miller, CFO of Oculus said. "We've reduced our quarterly expenses and are now on track to positive EBITDAS at a more rapid pace. As well, we now have a major partner working on our behalf to secure regulatory approvals in multiple Latin America and Caribbean countries, thus eventually opening up new markets for the Microcyn Technology. Finally, and not to be overlooked, their upfront payment of $5.1 million provides us with a much stronger balance sheet position."

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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