THERMOGENESIS Corp. (KOOL, Financial) filed Quarterly Report for the period ended 2011-12-31.
Thermogenesis Corp. has a market cap of $18.8 million; its shares were traded at around $1.15 with and P/S ratio of 0.8.
The Company s gross profit was $1,704,000 or 36% of net revenues for the three months ended December 31, 2011, as compared to $2,356,000 or 40% of net revenues for the corresponding fiscal 2011 period. The decrease in gross profit is primarily due to the manufacturing inefficiencies which were experienced during the build of the CryoSeal devices for Asahi as we have not produced CryoSeal devices in some time.
Revenues for the six months ended December 31, 2011 were $9,634,000, compared to $12,857,000 for the six months ended December 31, 2010, a decrease of $3,223,000 or 25%. BioArchive device revenues decreased as there were seven fewer devices sold during the six months ended December 31, 2011 than in the corresponding period of the prior year. The global economy has tightened capital budgets and this has impacted our BioArchive device sales, especially in Europe. Additionally, sales of AXP disposables decreased due to a one-time inventory build of AXP disposables by GE Healthcare (“GEHC”) during the first quarter of the prior year as well as lower bag set sell-through volumes to customers than in the same prior year period.
The Company s gross profit was $3,703,000 or 38% of net revenues for the six months ended December 31, 2011, as compared to $4,951,000 or 39% of net revenues for the corresponding fiscal 2011 period. The decrease in gross profit is primarily due to manufacturing inefficiencies which were experienced during the build of the CryoSeal devices for Asahi as discussed above.
Our cancelable backlog at December 31, 2011 was $2,578,000, of which $1,900,000 represents orders from Asahi for CryoSeal devices and disposables. We intend to fulfill the device order of $750,000, however, the remainder of the order is in question due to the flooding of the facility that manufactures the CP-3 disposables. Our backlog consists of product orders for which a customer purchase order has been received and is scheduled for shipment within the next twelve months. Orders are subject to cancellation or rescheduling by the customer, sometimes with a cancellation charge. Due to timing of order placement, product lead times, changes in product delivery schedules and cancellations, and because sales will often reflect orders shipped in the same quarter received, our backlog at any particular date is not necessarily indicative of sales for any succeeding period.
Read the The complete Report
Thermogenesis Corp. has a market cap of $18.8 million; its shares were traded at around $1.15 with and P/S ratio of 0.8.
Highlight of Business Operations:
Revenues for the three months ended December 31, 2011 were $4,775,000 compared to $5,860,000 for the three months ended December 31, 2010, a decrease of $1,085,000 or 19%. BioArchive device revenues decreased as there were four fewer devices sold during the current quarter than in the prior year quarter. The global economy has tightened capital budgets and this has impacted our BioArchive device sales. In addition, difficult economic conditions have slowed the rate of cord blood collections globally, which has decreased the unit volume sell through amounts to customers over the past year. As a result, we have experienced declining revenues most of the last six quarters. Although we cannot guarantee, we believe we are now at a quarterly revenue level that we should sustain for the near term. As global economic conditions improve and we receive product approvals in new territories, we expect our revenues to increase accordingly.The Company s gross profit was $1,704,000 or 36% of net revenues for the three months ended December 31, 2011, as compared to $2,356,000 or 40% of net revenues for the corresponding fiscal 2011 period. The decrease in gross profit is primarily due to the manufacturing inefficiencies which were experienced during the build of the CryoSeal devices for Asahi as we have not produced CryoSeal devices in some time.
Revenues for the six months ended December 31, 2011 were $9,634,000, compared to $12,857,000 for the six months ended December 31, 2010, a decrease of $3,223,000 or 25%. BioArchive device revenues decreased as there were seven fewer devices sold during the six months ended December 31, 2011 than in the corresponding period of the prior year. The global economy has tightened capital budgets and this has impacted our BioArchive device sales, especially in Europe. Additionally, sales of AXP disposables decreased due to a one-time inventory build of AXP disposables by GE Healthcare (“GEHC”) during the first quarter of the prior year as well as lower bag set sell-through volumes to customers than in the same prior year period.
The Company s gross profit was $3,703,000 or 38% of net revenues for the six months ended December 31, 2011, as compared to $4,951,000 or 39% of net revenues for the corresponding fiscal 2011 period. The decrease in gross profit is primarily due to manufacturing inefficiencies which were experienced during the build of the CryoSeal devices for Asahi as discussed above.
Our cancelable backlog at December 31, 2011 was $2,578,000, of which $1,900,000 represents orders from Asahi for CryoSeal devices and disposables. We intend to fulfill the device order of $750,000, however, the remainder of the order is in question due to the flooding of the facility that manufactures the CP-3 disposables. Our backlog consists of product orders for which a customer purchase order has been received and is scheduled for shipment within the next twelve months. Orders are subject to cancellation or rescheduling by the customer, sometimes with a cancellation charge. Due to timing of order placement, product lead times, changes in product delivery schedules and cancellations, and because sales will often reflect orders shipped in the same quarter received, our backlog at any particular date is not necessarily indicative of sales for any succeeding period.
Read the The complete Report
