BioForm Reports Smaller Fiscal 4Q Loss Of $1.9M

SAN MATEO, Calif. (AP) ¿ BioForm Medical Inc., which develops products used in cosmetic medical procedures, said Wednesday it shrank its fiscal fourth-quarter loss, due to improved sales and decreased operating expenses.

The company reported a loss of $1.9 million, or 4 cents per share, compared with a loss of $20 million, or 43 cents per share, in the same quarter last year. Revenue for the quarter that ended June 30 rose 15 percent to $19.2 million.

Analysts polled by Thomson Reuters expected a wider loss of 10 cents per share on $15.2 million in revenue.

BioForm said domestic sales rose 17 percent to $15.5 million, while international sales were up 6 percent to $3.7 million.

The company also said operating expenses fell more than 50 percent to $16.5 million.

It attributed most of the decrease to an $11.2 million charge taken in the fourth quarter last year that was tied to its Advanced Cosmetic Intervention asset purchase.

For the fiscal year that ended June 30, BioForm reported a loss of $21.1 million, or 46 cents per share, compared with a loss of $29.5 million, or 94 cents per share. Sales fell to $66.5 million from $67.5 million.

For fiscal 2010, BioForm expects a loss of less than $14 million and revenue of between $64 million and $70 million. Wall Street is looking for 2010 revenue of $66.4 million.

Shares added 19 cents, or 5.7 percent, to $3.53 in aftermarket trading, having closed the regular session at $3.34.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

More from Technology

These 5 Tech Giants Still Aren't That Expensive

These 5 Tech Giants Still Aren't That Expensive

Intel CEO Brian Krzanich's Ouster Proves CEOs Aren't Above the Rules

Intel CEO Brian Krzanich's Ouster Proves CEOs Aren't Above the Rules

Amazon, Microsoft and Google Face Backlash over ICE, Military Deals

Amazon, Microsoft and Google Face Backlash over ICE, Military Deals

As Intel Loses Its CEO, How Well Can It Compete Against Nvidia?

As Intel Loses Its CEO, How Well Can It Compete Against Nvidia?

3 Great Stock Market Sectors Millennials Should Invest In

3 Great Stock Market Sectors Millennials Should Invest In