Total : 9 View more »
Derma Sciences Reports Third Quarter 2009 Results. Significant Quarter-over-Quarter Improvement Enables Company to Achieve Profitability Conference Call Scheduled for 11 am Today.
PRINCETON, N.J., Sept. 2 /PRNewswire-FirstCall/ -- Derma Sciences, Inc. , a provider of advanced wound care products, will present at Rodman & Renshaw's Eleventh Annual Healthcare Conference taking place September 9 - 11, 2009, at the New York Palace Hotel. Edward J. Quilty,
http://www.biospace.com/news_story.aspx?StoryID=154872&full=1
PRINCETON, NJ--Derma Sciences, Inc. (OTC Bulletin Board: DSCI), a specialty medical device / pharmaceutical company specializing in advanced wound care, announced today that the Food and Drug Administration (FDA)has issued its Guidance Document to support the classification of the Company's
PRINCETON, N.J., Oct. 28 /PRNewswire-FirstCall/ -- Derma Sciences, Inc. (OTC Bulletin Board: DSCI - News), a specialty medical device / pharmaceutical company specializing in advanced wound
http://finance.yahoo.com/news/FDA-Issues-Guidance-for-Derma-prnews-4053982991.html?x=0&.v=1
Total : 25 View more »
Nov 17, 2009 (Wall Street Horizon via COMTEX) --
Derma Sciences, Inc. (DSCI.OB)
Expected next earnings release: Announcement date: 2/16/2010 - Before Market Earnings Quarter: Q4 Announcement Status: Unconfirmed
Expected next investor conference call information: Conference Call Date: 11/16/2009 Conference Call Time (ET): 11:00 AM Conference Call URL: http://phx.corporate-ir.net/playerlink.zhtml?c=107533&s=wm&e=2539678
Tags: conference corporate earnings market
Companies: Derma Sciences, Inc. (DSCI)
Nov 17, 2009 (M2 PRESSWIRE via COMTEX) --
DALLAS, TEXAS : StockGuru announces that Derma Sciences Inc. (OTCBB: DSCI) is in the StockGuru Spotlight. Derma Sciences is a specialty medical device / pharmaceutical company focusing on advanced wound care. Its key product, MEDIHONEY , is sold throughout the world by Derma Sciences and Comvita New Zealand -- the licensor of the patented honey-based technology -- and is the leading brand of honey-based dressings for the management of wounds and burns. The product has been shown to be effective in a variety of wounds and burns, and was the focus of a positive large-scale randomized controlled trial on leg ulcers. Derma's recently FDA cleared BIOGUARD(TM) Barrier Dressing is the Company's latest new product entrant into the $14 billion global wound care market. The barrier technology was licensed from Quick-Med Technologies, Inc. in Q1 of 2007. Derma also has in development DSC127, a novel angiotensin analog for accelerated wound healing and scar reduction. DSC127 was licensed from the University of Southern California in Q4 of 2007.
On Monday, the company put out news announcing that it has filed an S-1 Registration Statement to offer 1,500,000 shares of its common stock. Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. (Nasdaq: RODM) will act as sole book-running manager for the transaction. Along with the raise, Derma has applied to list its shares on the NASDAQ under the symbol "DSCI." To meet the exchange's price requirement, Derma will hold a special shareholders' meeting on November 23, 2009 to vote on a reverse split of the Company's stock.
Shares for Derma Sciences Inc. (OTCBB: DSCI) were down during the afternoon of trading on Monday and closed down three cents at closing.
To view our StockGuru Spotlight on Derma Sciences Inc. (OTCBB: DSCI), please visit: http://www.stockguru.com
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Stockguru.com ("SG") provides its members with the latest news, press releases, and research reports for all the companies highlighted on the site. SG utilizes information believed to be reliable herein prepared all material. The information contained herein is not guaranteed by SG to be accurate, and should not be considered to be all-inclusive. The owner, publisher, editor and their associates are not responsible for errors and omissions. They may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. Any opinions expressed are subject to change without notice. SG encourages readers and investors to supplement the information in these reports with independent research and other professional advice. All information on featured companies is provided by the companies profiled, or is available from public sources and SG makes no representations, warranties or guarantees as to the accuracy or completeness of the disclosure by the profiled companies or the information contained herein. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. SG is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed onhttp://www.Stockguru.com or mentioned herein.
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Companies: Derma Sciences, Inc. (DSCI), Quick-Med Technologies, Inc. (QMDT), Rodman & Renshaw Capital Group, Inc. (RODM)
PRINCETON, N.J., Nov 16, 2009 /PRNewswire-FirstCall via COMTEX/ --
Derma Sciences, Inc. (OTC Bulletin Board: DSCI) a specialty medical device / pharmaceutical company focused on advanced wound care, reported financial and operating results today for the three months and nine months ended September 30, 2009.
Highlights for the three months ended September 30, 2009:
-- Net sales totaled $12,882,425 in the third quarter of 2009, an 11.4%
increase compared to $11,563,341 in the second quarter of 2009, and a
0.4% increase compared to $12,832,574 in the third quarter of 2008.
-- Net income of $139,603, or $0.00 per share (basic and diluted) was
generated in the third quarter of 2009, compared to a net loss of
$560,502, or $0.01 per share (basic and diluted), in the second quarter
of 2009, and compared to a net loss of $701,619, or $0.02 per share
(basic and diluted) in the third quarter of 2008.
-- Cash flow from operations increased by $1,407,115 during the third
quarter of 2009. These funds were used to pay down our line of credit
balance by $945,792 and increase working capital. We had $1,725,641
available for borrowing as of September 30, 2009, compared to $495,766
available as of June 30, 2009.
-- The DSC127 Phase II trial is over 50% enrolled and continues to be on
track for the announcement of clinical results within the third quarter
of 2010.
Edward Quilty, CEO, commented, "We are pleased to announce that we achieved profitability in the third quarter - the culmination of three straight quarters of steady improvement."
"Our sales team has done an outstanding job of boosting our Advanced Wound Care product revenues. Sales of MEDIHONEY((R)) continue to grow at a rapid pace, and BIOGUARD(TM) sales have made a significant impact since the product was launched in June. Sales of XTRASORB(TM) and MedEfficiency Total Contact Cast systems also accelerated in the quarter."
"We generated significant cash flow during the third quarter, enabling us to substantially pay down our debt and increase our liquidity. It is important to note that our financial health has improved during a very challenging economic period. We are now well-positioned to take advantage of the opportunities that are beginning to emerge for us."
2009 Year-to-Date Results
-- Net sales totaled $34,877,658 in the first nine months of 2009, a 7.3%
decrease compared to $37,641,362 in the first nine months of 2008.
-- A net loss of $1,178,978, or $0.03 per share (basic and diluted) was
generated in the first nine months of 2009, compared to a net loss of
$3,381,895, or $0.09 per share (basic and diluted), in the first nine
months of 2008.
-- Advanced Wound Care sales totaled $5,340,216 in the first nine months of
2009, a 60% increase compared to $3,338,783 in the first nine months of
2008.
-- Consolidated gross profit margin increased to 31.0% during the first
nine months of 2009, compared to 27.9% in the first nine months of 2008.
Quilty continued, "The past two years were a transitional period for our company. For example, we made a substantial investment in our Advanced Wound Care business knowing there would be a temporary negative impact on earnings. Taking the long-term view, we knew that developing higher margin proprietary brands would drive the overall value of the company. As expected, it has taken us several quarters to ramp up, but as our performance indicates, our efforts are beginning to pay off."
"During the first nine months of 2009, we experienced a decline in First Aid product sales. We believe this decline is temporary, as First Aid product sales tend to correlate with the general economy. On the positive side, our First Aid product margins improved by 5.3% due to improvement in our manufacturing."
Quilty concluded, "Moving forward, our goal is to continue to grow our top line sales and to improve our financial performance."
Conference Call/Webcast
Derma Science's management team will hold a conference call on Monday, November 16, 2009 to discuss the results at 11:00 am EST. Interested parties should call (866) 788-0546 (domestic) or (857) 350-1684 (international), with passcode 81416481 to access the call. You may also access this call via the Internet at:
http://phx.corporate-ir.net/playerlink.zhtml?c=107533&s=wm&e=2539678
For those who are unavailable to listen to the live broadcast, a replay will be available through December 16, 2009 and can be accessed by dialing 888-286-8010 (domestic), and 617-801-6888 (international). The passcode is 43541503.
For more news and information on Derma Sciences, Inc., please visit www.IRGnews.com/coi/DSCI where you can find the CEO's video, a fact sheet on the company, investor presentations, and more.
About Derma Sciences
Derma Sciences is a specialty medical device / pharmaceutical company focusing on advanced wound care. Its key product, MEDIHONEY(R), is sold throughout the world by Derma Sciences and Comvita New Zealand -- the licensor of the patented honey-based technology -- and is the leading brand of honey-based dressings for the management of wounds and burns. The product has been shown to be effective in a variety of wounds and burns, and was the focus of a positive large-scale randomized controlled trial on leg ulcers. Derma's recently FDA cleared BIOGUARD(TM) Barrier Dressing is the Company's latest new product entrant into the $14 billion global wound care market. Derma also has in development DSC127; a novel angiotensin analog for accelerated wound healing and scar reduction. Patient enrollment for the Phase II diabetic foot ulcer study is expected to be completed in the first quarter of 2010, with clinical results being reported within the third quarter of 2010.
For more information about Derma Sciences, Inc., visit http://www.dermasciences.com.
Forward-Looking Statements
Statements contained in this release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements which may be made in this release or which are otherwise made by or on behalf of the Company. Factors which may affect the Company's results include, but are not limited to, product demand, market acceptance, impact of competitive products and prices, product development, completion of an acquisition, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks. Additional factors that could cause or contribute to differences between the Company's actual results and forward-looking statements include but are not limited to, those discussed in the Company's fillings with the Securities and Exchange Commission.
Contacts: Derma Sciences, Inc.
Edward J. Quilty
Chairman and CEO
equilty@dermasciences.com
(609) 514- 4744
The Investor Relations Group
Jason Strominger (Investor Relations)
Michael Crawford (Investor Relations)
Enrique Briz (Public Relations)
212-825-3210
DERMA SCIENCES, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
September 30, December 31,
2009 2008
ASSETS (Unaudited)
---------------------------------------------------------------------
Current Assets
Cash and cash equivalents $399,998 $391,038
Accounts receivable, net 3,743,290 3,892,523
Inventories 10,789,282 12,423,042
Prepaid expenses and other
current assets 477,712 397,117
---------------------------------------------------------------------
Total current assets 15,410,282 17,103,720
Cash - restricted 2,029,563 2,014,422
Equipment and improvements, net 3,873,046 3,977,853
Goodwill 7,119,726 7,119,726
Other intangible assets, net 4,322,750 5,310,129
Other assets, net 579,216 681,472
---------------------------------------------------------------------
Total Assets $33,334,583 $36,207,322
---------------------------------------------------------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
---------------------------------------------------------------------
Current Liabilities
Line of credit borrowings 2,835,589 3,446,605
Current maturities of long-term
debt 1,773,401 1,298,207
Accounts payable 2,902,190 3,614,764
Accrued expenses and other
current liabilities 1,233,958 2,004,493
---------------------------------------------------------------------
Total current liabilities 8,745,138 10,364,069
Long-term debt 2,614,503 4,065,036
Other long-term liabilities 104,674 44,848
Deferred tax liability 363,141 340,871
---------------------------------------------------------------------
Total Liabilities 11,827,456 14,814,824
---------------------------------------------------------------------
Shareholders' Equity
Convertible preferred stock, $.01 par
value; 11,750,000 shares authorized;
issued and outstanding: 2,280,407 shares
(liquidation preference of $4,210,231
at September 30, 2009) 22,804 22,804
Common stock, $.01 par value;
150,000,000 authorized; issued and
outstanding: 40,315,743 at September 30,
2009; 40,140,743 at December 31, 2008 403,157 401,407
Additional paid-in capital 40,709,352 40,027,645
Accumulated other comprehensive
income - cumulative translation
adjustments 1,214,615 604,465
Accumulated deficit (20,842,801) (19,663,823)
---------------------------------------------------------------------
Total Shareholders' Equity 21,507,127 21,392,498
---------------------------------------------------------------------
Total Liabilities and
Shareholders' Equity $33,334,583 $36,207,322
---------------------------------------------------------------------
DERMA SCIENCES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
Three Months ended
September 30,
------------------------
2009 2008
---------------------------------------------------------------------
Net Sales $12,882,425 $12,832,574
Cost of sales 8,838,154 9,006,021
---------------------------------------------------------------------
Gross Profit 4,044,271 3,826,553
---------------------------------------------------------------------
Operating Expenses
Selling, general and administrative 3,677,182 4,115,154
Research and development 70,412 84,891
---------------------------------------------------------------------
Total operating expenses 3,747,594 4,200,045
---------------------------------------------------------------------
Operating income (loss) 296,677 (373,492)
---------------------------------------------------------------------
Other expense, net:
Interest expense 220,839 251,256
Other income (69,002) (1,419)
---------------------------------------------------------------------
Total other expense 151,837 249,837
---------------------------------------------------------------------
Income (loss) before provision for income
taxes 144,840 (623,329)
Provision for income taxes 5,237 78,290
---------------------------------------------------------------------
Net Income (Loss) 139,603 (701,619)
---------------------------------------------------------------------
Net income (loss) per common share - basic
and diluted $0.00 ($0.02)
---------------------------------------------------------------------
Shares used in computing net income (loss)
per common share - basic 40,315,743 40,140,743
---------------------------------------------------------------------
Shares used in computing net income (loss)
per common share - diluted 42,931,301 40,140,743
---------------------------------------------------------------------
Nine Months ended
September 30,
------------------------
2009 2008
----------------------------------------------------------------------
Net Sales $34,877,658 $37,641,362
Cost of sales 24,051,984 27,141,628
----------------------------------------------------------------------
Gross Profit 10,825,674 10,499,734
----------------------------------------------------------------------
Operating Expenses
Selling, general and administrative 11,244,347 12,919,124
Research and development 288,338 239,199
----------------------------------------------------------------------
Total operating expenses 11,532,685 13,158,323
----------------------------------------------------------------------
Operating loss (707,011) (2,658,589)
----------------------------------------------------------------------
Other expense, net:
Interest expense 631,909 748,743
Other income (112,791) (21,897)
----------------------------------------------------------------------
Total other expense 519,118 726,846
----------------------------------------------------------------------
Loss before benefit for income taxes (1,226,129) (3,385,435)
Benefit for income taxes (47,151) (3,540)
----------------------------------------------------------------------
Net Loss (1,178,978) (3,381,895)
----------------------------------------------------------------------
Net loss per common share - basic and diluted ($0.03) ($0.09)
----------------------------------------------------------------------
Shares used in computing net loss per common
share - basic and diluted 40,231,128 38,091,726
----------------------------------------------------------------------
SOURCE Derma Sciences, Inc.
http://www.dermasciences.com
Tags: acquisition business ceo clinical conference debt deficit earnings economy equity fda investment legal manufacturing market medical new product new zealand note otc pharmaceuticals prices product development products public relations research and development sales science tax taxes technology track trade trial ulcers video
Companies: Derma Sciences, Inc. (DSCI)
Nov 16, 2009 (Wall Street Horizon via COMTEX) --
Derma Sciences, Inc. (DSCI.OB)
Expected next earnings release: Announcement date: 11/16/2009 - Before Market Earnings Quarter: Q3 Announcement Status: Verified
Expected next investor conference call information: Conference Call Date: 11/16/2009 Conference Call Time (ET): 11:00 AM Conference Call URL: http://phx.corporate-ir.net/playerlink.zhtml?c=107533&s=wm&e=2539678
Tags: conference corporate earnings market
Companies: Derma Sciences, Inc. (DSCI)
Total : 12 View more »
Health,...PRINCETON N.J. May 5 /- ...Ed Quilty CEO of Derma Sciences noted that In October 2007 Nasdaq... ...,Derma,Sciences,Announces,Voluntary,Delisting,from,the,Defunct,Boston,Stock,Exchange,medicine,medical news today,latest medical news,medical newsletters,current medical news,latest medicine
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Derma Sciences, Inc. based in Princeton, New Jersey, manufactures wound care dressings, wound closure fasteners and skin care products for sale to healthcare institutions, physicians’ offices, home healthcare agencies and pharmacies, mainly in the US and Canada.
http://www.taglichbrothers.com/aboutus/pressreleases/dsci-07112006.asp
This product listing is not all inclusive. The products listed here are based upon the Manufacturers' agreement to have a reciprocal link to this site, or to be otherwise listed on this site.
http://www.woundcarestrategies.com/products/manufacturer/barriers_skin.htm
Total : 34 View more »
Derma Sciences, Inc. is a fully integrated manufacturer, marketer and supplier of a complete line of products for wound and skin care.
Information about Derma Sciences Incorporated ... RSS feeds allow Web site content to be gathered via feed reader software.
Derma Sciences Incorporated, Princeton, NJ : Reviews and maps - Yahoo! Local, 609.514.4744. Get Ratings, Reviews, Photos and more on Yahoo! Local.
http://local.yahoo.com/info-10951904-derma-sciences-incorporated-princeton
Find business news, business blogs, executive career advice, business travel, business culture, company & executive profiles.
http://www.portfolio.com/resources/company-profiles/Derma-Sciences-Incorporated-2722
...PRINCETON N.J. Nov. 6 /- ...,Derma,Sciences,Announces,Date,of,Its,Third,Quarter,2009,Earnings,Release,and,Conference,Call,medicine,advanced medical technology,medical laboratory technology,medical device technology,latest medical technology,Health
...PRINCETON N.J. Oct. 21 /- Active Leptospermum Honey and Negative Pressu... Edna Acuna MD ... Medical Director Wound & Hyperbaric Clinic Methodist Medical ...,Derma,Sciences,Announces,Multiple,Clinical,Presentations,of,MEDIHONEY(R),at,Upcoming,Major,Wound,Care,Conference,medicine,advanced medical