BSD Medical Corp. (BSDM, Financial) filed Quarterly Report for the period ended 2012-02-29.
Bsd Medical-del has a market cap of $62.2 million; its shares were traded at around $2.05 with and P/S ratio of 20.5. Bsd Medical-del had an annual average earning growth of 34.6% over the past 10 years.
Total cost of revenues for the three months ended February 29, 2012 was $347,613 compared to $405,937 for the three months ended February 28, 2011, a decrease of $58,324, or approximately 14%. Total cost of revenues for the six months ended February 29, 2012 was $718,491 compared to $765,666 for the six months ended February 28, 2011, a decrease of $47,175, or approximately 6%. This decrease in cost of revenues in the current fiscal year resulted primarily from decreased revenues as described above, particularly fewer hyperthermia systems sold.
Selling, General and Administrative Expenses – Selling, general and administrative expenses were $1,457,662 for the three months ended February 29, 2012 compared to $1,176,467 for the three months ended February 28, 2011, an increase of $281,195, or approximately 24%. Selling, general and administrative expenses were $2,912,497 for the six months ended February 29, 2012 compared to $2,200,398 for the six months ended February 28, 2011, an increase of $712,099, or approximately 32%. We implemented headcount reductions and other operating expense reduction measures in fiscal year 2011. However, as we continue the roll out of the MicroThermX® product line and the support of its global distribution network, we have increased our marketing and sales staff and incurred additional marketing, sales and related operating expenses. We believe that the level of our selling, general and administrative expenses may continue to increase over the levels reported for the first six months of the current fiscal year, and the increase may be significant.
During the six months ended February 29, 2012, we used net cash of $2,631,282 in operating activities, primarily as a result of our net loss of $3,790,003 decreased by non-cash expenses of $655,068, including depreciation and amortization, stock-based compensation and loss on disposition of property and equipment. Net cash used in operating activities also included increases in inventories of $76,639 and other current assets of $3,320 and a decrease in accounts payable of $50,530, partially offset by a decrease in receivables of $543,346 and increases in accrued liabilities of $73,462 and deferred revenue of $17,334.
During the six months ended February 28, 2011, we used net cash of $1,510,199 in operating activities, primarily as a result of our net loss of $2,501,266, decreased by non-cash expenses totaling $471,422, including depreciation and amortization and stock-based compensation. Net cash used in operating activities also included increases in inventories of $10,224 and decreases in deferred revenue of $37,033, partially offset by decreases in receivables of $134,835, income tax receivable of $50,000 and other current assets of $22,508, and increases in accounts payable of $34,260, accrued liabilities of $32,819 and customer deposits of $292,480.
Read the The complete Report
Bsd Medical-del has a market cap of $62.2 million; its shares were traded at around $2.05 with and P/S ratio of 20.5. Bsd Medical-del had an annual average earning growth of 34.6% over the past 10 years.
Highlight of Business Operations:
Our sales to related parties are comprised of the sale of hyperthermia systems and related component parts and services sold to Medizintechnik. Dr. Sennewald, one of our directors and significant stockholders, is a stockholder, executive officer and a director of Medizintechnik. At times, these related party sales represent a significant portion of our revenues. We derived $546, or approximately 0%, of our total revenues in the three months ended February 29, 2012 from sales to related parties, compared to $30,296, or approximately 7%, in the three months ended February 28, 2011. We derived $301,400, or approximately 32%, of our total revenues in the six months ended February 29, 2012 from sales to related parties, compared to $40,752, or approximately 4%, in the six months ended February 28, 2011. We had no sales of hyperthermia systems to related parties in the three months ended February 29, 2012 and February 28, 2011 and the six months ended February 28, 2011.Total cost of revenues for the three months ended February 29, 2012 was $347,613 compared to $405,937 for the three months ended February 28, 2011, a decrease of $58,324, or approximately 14%. Total cost of revenues for the six months ended February 29, 2012 was $718,491 compared to $765,666 for the six months ended February 28, 2011, a decrease of $47,175, or approximately 6%. This decrease in cost of revenues in the current fiscal year resulted primarily from decreased revenues as described above, particularly fewer hyperthermia systems sold.
Selling, General and Administrative Expenses – Selling, general and administrative expenses were $1,457,662 for the three months ended February 29, 2012 compared to $1,176,467 for the three months ended February 28, 2011, an increase of $281,195, or approximately 24%. Selling, general and administrative expenses were $2,912,497 for the six months ended February 29, 2012 compared to $2,200,398 for the six months ended February 28, 2011, an increase of $712,099, or approximately 32%. We implemented headcount reductions and other operating expense reduction measures in fiscal year 2011. However, as we continue the roll out of the MicroThermX® product line and the support of its global distribution network, we have increased our marketing and sales staff and incurred additional marketing, sales and related operating expenses. We believe that the level of our selling, general and administrative expenses may continue to increase over the levels reported for the first six months of the current fiscal year, and the increase may be significant.
During the six months ended February 29, 2012, we used net cash of $2,631,282 in operating activities, primarily as a result of our net loss of $3,790,003 decreased by non-cash expenses of $655,068, including depreciation and amortization, stock-based compensation and loss on disposition of property and equipment. Net cash used in operating activities also included increases in inventories of $76,639 and other current assets of $3,320 and a decrease in accounts payable of $50,530, partially offset by a decrease in receivables of $543,346 and increases in accrued liabilities of $73,462 and deferred revenue of $17,334.
During the six months ended February 28, 2011, we used net cash of $1,510,199 in operating activities, primarily as a result of our net loss of $2,501,266, decreased by non-cash expenses totaling $471,422, including depreciation and amortization and stock-based compensation. Net cash used in operating activities also included increases in inventories of $10,224 and decreases in deferred revenue of $37,033, partially offset by decreases in receivables of $134,835, income tax receivable of $50,000 and other current assets of $22,508, and increases in accounts payable of $34,260, accrued liabilities of $32,819 and customer deposits of $292,480.
Read the The complete Report
