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Escalon Medical Corp. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: February 14, 2012 05:58PM

Escalon Medical Corp. (ESMC) filed Quarterly Report for the period ended 2011-12-31. Escalon Medical Corp. has a market cap of $6 million; its shares were traded at around $0.78 with and P/S ratio of 0.2.



Highlight of Business Operations:

Cost of goods sold in the ECD business segment totaled $2,822,000 or 91.2% of product revenue, for the three-month period ended December 31, 2011 as compared to $2,454,000 or 72.4% of product revenue, for the same period last fiscal year. The increase in cost of goods sold as a percentage of product revenue is contributed to an inventory write-off at the Drew Dallas facility of approximately $480,000 related to the continuing process of outsourcing manufacturing and closing the facility.

Consolidated cost of goods sold totaled approximately $7,852,000, or 63.8% of product revenue, for the six-month period ended December 31, 2011, as compared to $8,266,000, or 65.2% of product revenue, for the same period last fiscal year.

Cost of goods sold in the ECD business segment totaled $5,166,000, or 77.0% of product revenue, for the six-month period ended December 31, 2011 as compared to $5,173,000, or 73.6% product revenue, for the same period last fiscal year. Margins on ECD’s instruments continue to range between 0% and 20% depending on the product. These lower margin sales are offset by the margins achieved on reagent sales which typically range from 50% to 75%. The increase in cost of goods sold as a percent of product revenue is related to an inventory write-off at our Dallas facility offset by the relative mix of these product groups during the six-month period ended December 31, 2011 as compared to the same period last year.

The filing of the insolvency declaration at BHH will have a material effect on results of operations in subsequent periods. BHH’s product line revenues from operations were $ 4,763,056, $5,254,574 and $2,647,877 in fiscal 2011, 2010, 2009, respectively. Losses from operations, net of taxes, were ($1,232,904), ($635,952) and ($1,068,040) in 2011, 2010, 2009, respectively.

The filing of the insolvency declaration at BHH will have a material effect on results of operations in subsequent periods. BHH’s product line revenues from operations were $ 4,763,056, $5,254,574 and $2,647,877 in fiscal 2011, 2010, 2009, respectively. Losses from operations, net of taxes, were ($1,232,904), ($635,952) and ($1,068,040) in 2011, 2010, 2009, respectively.

Read the The complete Report



Stocks Discussed: ESMC,
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