This Day On The Street
Continue to site
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

Corgenix Reports First Quarter Fiscal 2013 Financial Results

Corgenix Medical Corporation (OTC BB: CONX.OB), a worldwide developer and marketer of diagnostic test kits, today filed its fiscal quarter Form 10-Q and reported financial results. The report disclosed that the company achieved record operating results for the quarter ended September 30, 2012.
  • Revenue for the quarter increased 29.5% to a record $2.82 million from $2.18 million in the same period of the prior year. Most of the growth was in contract manufacturing (up 291%), liver disease (up 37%), coagulation (up 32%) and AspirinWorks ® (up 19%). Geographically, North American revenues increased 30.4% and international revenues increased 24.1%.
  • Total gross profit for the quarter increased 14.8% to a record of $1.20 million from $1.05 million in the previous year.
  • Operating expenses declined from the first quarter in the prior year by 4.2% while interest expense decreased 89.4% to $6,000 in the current quarter from $60,000 in the prior year.
  • Operating income increased to $205,000 in the first quarter of 2012 from $6,000 in the first quarter of 2011.
  • The company achieved record net income for the current quarter of $198,000 versus a net loss of $50,000 in the prior year, while EBITDA increased 165% to $305,000.

Unaudited Financials at a Glance (in thousands, except percentages)
    Q1 2012   Q1 2011   Percent Change
Revenue   $2,821   $2,178   29.5%
Gross Profit $1,202 $1,047 14.8%
Operating Expenses $997 $1,042 (4.2%)
Operating Income $205 $6 ---
Net Income (Loss) $198 ($50) ---
EBITDA   $305   $115   165.0%

“We had a solid first quarter and are very encouraged that our key strategic initiatives are beginning to pay off in a more stable business with solid profitability,” said Douglass Simpson, President and CEO of Corgenix. “We’re continuing to take important steps to maintain this growth in revenues and earnings to ensure long-term success, and we’re confident that our focus on the most important growth areas will continue to drive increased value for our shareholders.”

1 of 3

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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs