|
||||||||
FINANCIALS
|
|
![]() ![]() Bovie Medical Corporation Strengthens Presence In
Southeast Asia And Mainland China With Distribution And Service Agreement Melville, New York, December 20, 2004 Bovie Medical Corporation (“the Company”) (Amex Symbol: BVX), a premier manufacturer and marketer of electrosurgery products is today announced the signing of a distribution and service agreement with Hong Kong based Symbol Medical Limited (“Symbol”). The agreement provides Symbol with the right to distribute Bovie’s electrosurgical generators throughout Southeast Asia including mainland China. Terms of the agreement were not disclosed. Moshe Citronowicz, chief operating officer of Bovie Medical, stated, “This agreement complements our current distribution structure in the Far East and is a natural progression of Bovie’s business model to expand in markets that hold great potential.” Bovie Medical Corporation Reports Record Revenues
And Net Earnings For The Nine Month And Third Quarter Periods Melville, New York, November 12, 2004 Bovie Medical Corporation (“the Company”) (Amex Symbol: BVX), a premier manufacturer and marketer of electrosurgery products is today announced its financial results for the nine months and third quarter, ended September 30, 2004. Revenues for the nine-month period totaled a record $15.6 million, or a 26 percent increase over the $12.4 million recorded in the comparable period last year. The increased revenues resulted in a 24 percent increase in net income, which totaled $1,167,191 or $.07 per diluted share, versus net income of $944,324 or $.06 per diluted share in the same period a year earlier. Earnings per share were computed on 16,515,281 and 15,359,284 shares, respectively. Revenues for the third quarter reached a record $5.6 million, a 30 percent increase over the $4.3 million recorded for the same three month period in the prior year. Net earnings for the third quarter improved 23 percent to $522,815 or $.03 per diluted share versus $423,620 or $.03 per diluted share in last year’s third quarter. Diluted per share earnings were based on 16,438,199 and 15,512,953, respectively. The improved performance was primarily a result of increased sales in electrosurgery products. Bovie Medical continues to direct its efforts and resources at developing new products that will serve niche medical markets. Bovie Medical Corporation Appoints Two New Directors
Melville, New York, October 5, 2004 Bovie Medical Corporation (“the Company”) (Amex Symbol: BVX), a premier manufacturer and marketer of electrosurgery products is pleased to announce the appointment of two new directors to the Bovie board. The two new directors are Messrs. Randy D. Rossi and Michael Norman. Mr. Randy Rossi has over 14 years of experience in medical manufacturing. Most recently, he was President of the Patient Care Division, Kendall/TYCO which specialized in Wound Care, Urology and Incontinent Care with revenues in excess of $500M. Mr. Michael Norman is a CPA specializing in business financial planning as well as governmental and financial auditing. Mr. Norman is a member of the Nassau County Board of Assessors, Treasurer of The Don Monti Memorial Research Foundation and a Glen Cove City Councilman; all located on Long Island, New York. Andrew Makrides, Bovie’s president commented, “We are delighted to have Randy and Michael join our board of directors. It was imperative to ensure that our directors represent both excellence in business ethics and operational expertise, coupled with a strong commitment to shareholder representation.” Medical Wind Down Holdings Completes Sale of Three
Million Bovie Medical Common Shares In Private Placement Melville, New York, September 27, 2004 Bovie Medical Corporation (“the Company”) (Amex Symbol: BVX), a premier manufacturer and marketer of electrosurgery products today announced that Medical Wind Down Holdings has sold its three million common share position in the Company. Ehrenkrantz King Nussbaum Inc. acted as the selling agent for the Medical Wind Down Holdings shares. A small number of institutional and high net worth investors participated in the placement of the common stock. Bovie Medical Corporation received no proceeds from the sale of these shares. Bovie Medical Corporation Announces
Record Six-Month Results: Net Income Up 24 Percent Melville, New York, August 12, 2004 Bovie Medical Corporation (“the Company”) (Amex Symbol: BVX), a premier manufacturer and marketer of electrosurgery products today announced its financial results for the first half and second quarter, ended June 30, 2004. Revenues for the first six months of fiscal 2004 totaled a record $10.0 million, representing an increase of 25% over the $8.04 million recorded in the comparable period last year. Net income increased 24% to $644,376 or $.04 per diluted share compared to a net income of $520,704 or $.04 per share in 2003. The diluted earnings per share figures for the first half were computed on 16,048,888 versus 13,997,467 for fiscal 2004 and 2003, respectively. Revenues for the second quarter increased 20% to a record $5.26 million compared to $4.37 million recorded in the same period last year. Net income for the quarter was $404,544 or $.03 per diluted share compared to a net income of $463,214 or $.04 per share for the second quarter of fiscal 2003. Diluted earnings per common share for the three-month period ended June 30, 2004 is based on 16,024,195 compared to 13,714,518 for the comparable period a year-earlier. During the second quarter, the Company continued to invest in research and development as well as increased its sales and marketing efforts, to establish a strong foundation for its future growth. Commenting on the results, Andrew Makrides, president of Bovie stated, “The continued acceptance of our electrosurgery technology had a positive impact on our overall performance. In addition, the company is using its technologies to target specific large niche markets to fuel its future growth.” Bovie Medical Corporation to Report Record Revenues For The Second Quarter
Melville, New York, July 7, 2004 Bovie Medical Corporation (“the Company”) (Amex Symbol: BVX), a premier manufacturer and marketer of electrosurgery products announced that it expects to report in August that the recently completed second quarter was the highest revenue quarter in Company history. Bovie’s previous highest quarter was $4.7 million recorded in the first quarter of fiscal 2004. Andrew Makrides, Bovie’s president, commented, “For the first six months of 2004, the Company has achieved record revenue levels due to strong demand for electrosurgical generators and accessories.” He added, “We are very pleased with our sales performance to date and enthused about our full-year prospects.” Bovie Medical Corporation Announces Record First Quarter
Financial Results (29% Revenue Increase, 324% Net Income Increase): Strong Performance Led By Electrosurgical Sales Melville, New York, May 7, 2004 Bovie Medical Corporation (“the Company”) (Amex Symbol: BVX), a premier manufacturer and marketer of electrosurgery products today announced its financial results for the first quarter ended March 31, 2004. Revenue for the first quarter increased 29% to an all-time quarterly record $4.7 million from $3.7 million in the prior year. Net income increased 324% to $239,832 or $.01 per diluted share compared to a net income of $56,615 or $.00 per diluted share in 2003. Andrew Makrides, president of Bovie Medical, stated, “The strong start to fiscal 2004 has positioned the Company to achieve solid gains in revenues and profitability for the full year. Bovie’s commitment to designing and producing innovative products; particularly in the area of electrosurgery, continues to drive our record growth." Bovie Medical Corporation To Report Highest Revenue Quarter In Company History
Melville, New York, April 7, 2004 Bovie Medical Corporation (“the Company”) (Amex Symbol: BVX), a premier manufacturer and marketer of electrosurgery products announced that it expects to report in May that the recently completed first quarter was the highest revenue quarter in Company history. Bovie’s previous highest quarter was $4.36 million recorded in the second quarter of fiscal 2003. Andrew Makrides, Bovie’s president commented, “Fiscal 2004’s first quarter revenues reached an historic level reflecting the strong contribution made by our electrosurgical segment. We continue to anticipate near and long-term growth opportunities in this area.” Bovie Medical Corporation Announces 2003 Financial Results;
Appoints Vice President of Marketing And Sales Melville, New York, March 30, 2004 Bovie Medical Corporation (“the Company”) (Amex Symbol: BVX), a premier manufacturer and marketer of electrosurgery products announced its financial results for the fourth quarter and fiscal year ended December 31, 2003. Revenues for fiscal 2003 totaled a record $16.5 million, representing an increase of 33% over the $12.4 million recorded in the comparable period last year. Net income increased to $681,317 or $.05 per diluted share compared to a net loss of $514,765 or $(.04) per diluted share loss in 2002. Revenues for the fourth quarter increased 32% to a record $4.1 million compared to $3.1 million recorded in the same period last year. Net loss for the quarter was $263,007 or $.02 per diluted share compared to a net loss of $340,611or $(.03) per share for the fourth quarter of fiscal 2002. The loss in the fourth quarter was primarily attributable to: write offs of obsolete raw materials, increased fees and expenses relating to the Company’s recent listing on the American Stock Exchange, higher employee related costs and increased liability insurance as a result of higher sales. Andrew Makrides, president of Bovie Medical said, “2003 was a very successful year for Bovie. Several major milestones were achieved during the year including our listing on the AMEX, the signing of a significant development and manufacturing agreement, the expansion of our manufacturing facility and the continued development of new products. We are confident Bovie is well positioned to achieve increased profitability and strong revenue growth in 2004.” In other news, the Company has named Mr. Richard Pfahl as vice president of marketing and sales for the Company’s acute care division. Mr. Pfahl will also be responsible for overseeing all OEM accounts as well as coordinating special electrosurgical projects. He brings to this position over 20 years of experience in the medical industry, with an expertise in capital equipment for the hospital market. Bovie Medical Corporation To Report Record Fiscal 2003 Financial Results
Melville, New York, January 12, 2004 Bovie Medical Corporation (“the Company”) (Amex Symbol: BVX), a premier manufacturer and marketer of electrosurgery products announced that it expects to report in March that the recently completed fourth quarter was the highest revenue fourth quarter in Company history helping Bovie to achieve its seventh consecutive year of record sales. Bovie achieved several milestones during the fourth quarter including its recent listing on the American Stock Exchange, establishment of a new 20,000 square foot manufacturing facility, upgrades of manufacturing and communications systems and the completion of several working prototypes for a patent pending new suture removal device. |
||||||