This Day On The Street
Continue to site
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

BSD Medical Announces Financial Results For Second Quarter And First Six Months Of Fiscal 2013

BSD Medical Corporation (NASDAQ:BSDM) (Company or BSD) ( www.BSDMedical.com), a leading provider of medical systems that treat cancer and benign diseases using heat therapy, today reported financial results for its second quarter and first six months of fiscal 2013, including:

  • Total revenues of $1.5 million for the six months ended February 28, 2013 compared to total revenues of $0.9 million for the same period a year ago
  • Total revenues of $0.8 million for the second quarter ended February 28, 2013 compared to total revenues of $0.3 million of the second quarter of last year
  • Total Hyperthermia backlog of approximately $0.8 million
  • Net loss of $1.9 million for the three months ended February 28, 2013 compared to a net loss of $2.1 million for the three months ended February 29, 2012
  • Net cash used in operating activities was $1.4 million for the three months ended February 28, 2013 and $3.4 million for the six months ended February 28, 2013
  • Cash and cash equivalents of $7.7 million
  • No debt
  • Total stockholders’ equity of $11.0 million

“Our results reflect solid market penetration trends for our MicroThermX ® Microwave Ablation product line for the treatment of cancer,” said Harold Wolcott, President of BSD. “Revenues during the first six months of fiscal 2013 increased by approximately $0.5 million over the same period last year due largely to the performance of MicroThermX, including strong sales momentum of disposable SynchroWave antennas fueled by a doubling of domestic evaluations over the last six months and our fee per use model continuing to attract new accounts.

“As we move into the second half of fiscal 2013, we are planning for a significant expansion in the distribution of our MicroThermX systems in Europe, contingent upon our completing a Master Distribution Agreement covering the entire continent. We are working diligently on this agreement.

“It is worth noting that our quarter-end backlog figure for Hyperthermia products does not reflect purchase orders from our recently announced exclusive Taiwanese distributor Linden Bioscience (Linden). These purchase orders will be added to our backlog after import licenses have been obtained by Linden. Our relationship with Linden, with its commitment to purchase an estimated $7.1 million in BSD product over a five year period, further validates our belief that the Hyperthermia business will flourish in Asia as regulatory approvals are secured.

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
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,070.40 +46.34 0.26%
S&P 500 2,114.49 +6.20 0.29%
NASDAQ 5,016.9290 +11.5380 0.23%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs