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Corgenix Reports Second Quarter Fiscal 2013 Financial Results

Second Quarter 2013 Conference Call Details

Corgenix invites all those interested in hearing management's discussion of second quarter results to join a shareholders conference call on Thursday, February 14, 2013, at 4:00 p.m. EST (2:00 p.m. MST). Interested parties can join the call by dialing (866) 952-1906. International participants may access the call by dialing +1 785 424 1825. The conference code is “CORGENIX.” A replay will be available for 30 days following the call by dialing (800) 283-4593 for U.S. participants and +1 402 220 0872 for international participants.

About Corgenix Medical Corporation

Corgenix is a leader in the development and manufacturing of specialized diagnostic kits for immunology disorders, vascular diseases and bone and joint disorders, including the world’s only non-blood-based test for aspirin effect. Corgenix diagnostic products are commercialized for use in clinical laboratories throughout the world. The company currently sells over 50 diagnostic products through a global distribution network and has significant experience in product submissions to the FDA and other worldwide regulatory authorities. Additionally Corgenix contract develops and manufactures products for key medical and life science companies in state-of-the-art facilities in Colorado. The company operates under a Quality Management System that is ISO 13485:2012 certified and compliant with FDA regulations. More information is available at www.corgenix.com.

Statements in this press release that are not strictly historical facts are “forward-looking” statements (identified by the words “believe”, “estimate”, “project”, “expect” or similar expressions) within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements, which are inherently uncertain, are based on management’s current expectations and are subject to various factors, risks and uncertainties that may cause actual results, outcome of events, timing and performance to differ materially from those expressed or implied by such forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company’s products and services in the marketplace, competitive factors, changes in the regulatory environment, and other risks detailed in the Company’s periodic reports filed with the Securities and Exchange Commission, and in the Company’s subsequent filings with the Securities and Exchange Commission. The statements in this press release are made as of today, based upon information currently known to management, and the Company does not undertake any obligation or intend to publicly update or revise any forward-looking statements.

 
SUMMARY OF FINANCIAL HIGHLIGHTS
($000 of U.S. dollars except shares outstanding and per-share amounts)
 
CORGENIX MEDICAL CORPORATION AND SUBSIDIARIES
OPERATIONAL DATA
   

Three Months Ended

Six Months Ended

 

December 31,

2012

 

December 31,

2011

December 31,

2012

 

December 31,

2011

(unaudited)

(unaudited)

(unaudited)

(unaudited)

Total revenues

$

2,478

$

2,066

$

5,299

$

4,244

Gross profit 1,069 938 2,271 1,985
Total operating expenses 1,013 994 2,011 2,036
Operating income (loss) 56 (57 ) 260 (51 )
Net income (loss) 50 (85 ) 249 (136 )
Basic income (loss) per share

$

0.00*

$

(0.00)*

$ 0.01

$

(0.00)*

Basic shares outstanding 48,975,498 45,047,166 48,435,612 43,282,141
Diluted income (loss) per share

$

0.00*

$

(0.00)*

$ 0.01

$

(0.00)*

Diluted shares outstanding 50,755,593 45,047,166 49,541,484 43,282,141
EBITDA $ 163,606 $ 33,697 $ 468,740 $ 157,200
 

*Less than 0.01 or (0.01) per share

 
SUMMARY BALANCE SHEET DATA
(in thousands)
   
December 31, 2012 June 30, 2012

(unaudited)

(audited)

 
Cash $ 1,232 $ 1,249
Working capital 4,282 3,645
Total assets 6,530 6,263
Long-term debt 402 472
Total stockholders’ equity 5,236 4,626
 




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