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Guided Therapeutics Reports Year End And Fourth Quarter 2012 Results

Stocks in this article: GTHP

Guided Therapeutics, Inc. (OTCBB: GTHP) (OTCQB: GTHP) today announced its operating results for the fourth quarter and year ended December 31, 2012.

Revenue for the fourth quarter of 2012 was approximately $1.0 million, compared to approximately $896,000 in the fourth quarter of 2011. Revenue for all of 2012 was approximately $3.3 million, compared to approximately $3.6 million for 2011. Fluctuations in revenue were due primarily to the timing of receivables. Revenue from the sale of demonstration LuViva® Advanced Cervical Scan devices, for the year ended December 31, 2012, was approximately $72,000.

The net loss attributable to common stockholders for the fourth quarter of 2012 was approximately $1.2 million, or $0.02 per share. This compares to a net loss attributable to common stockholders of approximately $2.8 million, or $0.05 per share, in the comparable quarter of 2011. The net loss attributable to common stockholders for 2012 was approximately $4.4 million, or $0.08 per share, compared to a net loss attributable to common stockholders of approximately $6.6 million, or $0.14 per share, for 2011.

Cash on hand at December 31, 2012, was approximately $1.0 million, as compared to approximately $2.2 million at December 31, 2011. Since January 1, 2013, approximately $1.65 million has been raised from warrant exercises. While additional funding is being sought to support manufacturing and marketing activities, management believes that its anticipated future sales, as well as other funds from partnerships and grants, should be sufficient to support existing operations through the second quarter of 2013.

“We are very pleased to be shipping eight additional LuViva devices and disposable Cervical Guides in the first quarter to our Canadian partner and are completing assembly of our first Edition 3 CE Marked units, which we anticipate shipping to Europe in the second quarter,” said Mark L. Faupel, Ph.D., Chief Executive Officer and President of Guided Therapeutics.

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