Escalon Medical Corp. (ESMC, Financial) filed Quarterly Report for the period ended 2008-12-31.
Escalon Medical Corp. develops markets and distributes ophthalmic diagnostic surgical and pharmaceutical products as well as vascular access devices. The company utilizes strategic partnerships to help finance its development programs and is also seeking acquisitions to further diversify its product line to achieve critical mass in sales and take better advantage of the company's distribution capabilities. Escalon Medical Corp. has a market cap of $17.05 million; its shares were traded at around $1.95 with and P/S ratio of 0.56.
Cost of goods sold in the Drew business segment totaled $2,370,000, or 63.2% of product revenue, for the three-month period ended December 31, 2008 as compared to $1,942,000, or 61.6% of product revenue, for the same period last fiscal year. Margins on Drews instruments continue to range between 10% and 20% depending on the product. These lower margin sales are offset by the margins achieved on reagent sales which ranged from 50% to 60% during the periods ended December 31, 2008 and 2007, respectively.
Cost of goods sold in the EMI business segment totaled $314,000, or 58.2% of product revenue, for the three-month period ended December 31, 2008 as compared to $237,000, or 42.3% of product revenue, during the same period last fiscal year. The increase in cost of goods sold as a percentage of revenue is due to the product mix sold during the quarter.
Cost of goods sold in the Medical/Trek business segment totaled $228,000, or 73.6% of product revenue, for the three-month period ended December 31, 2008 as compared to $212,000, or 64.1% of
Cost of goods sold in the Drew business segment totaled $5,049,000, or 63.1% of product revenue, for the six-month period ended December 31, 2008 as compared to $3,844,000, or 62.1% of product revenue, for the same period last fiscal year. Margins on Drews instruments continue to range between 10% and 20% depending on the product. These lower margin sales are offset by the margins achieved on reagent sales which ranged from 50% to 60% during the periods ended December 31, 2008 and 2007, respectively
Cost of goods sold in the EMI business segment totaled $531,000, or 49.8%, of product revenue for the six-month period ended December 31, 2008 as compared to $464,000, or 49.5%, of product revenue, during the same period last fiscal year.
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Escalon Medical Corp. develops markets and distributes ophthalmic diagnostic surgical and pharmaceutical products as well as vascular access devices. The company utilizes strategic partnerships to help finance its development programs and is also seeking acquisitions to further diversify its product line to achieve critical mass in sales and take better advantage of the company's distribution capabilities. Escalon Medical Corp. has a market cap of $17.05 million; its shares were traded at around $1.95 with and P/S ratio of 0.56.
Highlight of Business Operations:
Other revenue decreased by approximately $7,000, or 15.6%, to $38,000 during the three-month period ended December 31, 2008 as compared to the same period last fiscal year. Other revenue decreased by approximately $39,000, or 37.1%, to $66,000 during the six-month period ended December 31, 2008 as compared to the same period last fiscal year. These decreases were attributable to decreased royalties from Bio-Rad related to an OEM agreement between Bio-Rad and Drew as a result of lower sales of Drews products in covered areas. While this agreement terminated as of May 15, 2006, the parties have continued to operate under the terms of the expired agreement pending negotiation of a potential extension and/or revision.Cost of goods sold in the Drew business segment totaled $2,370,000, or 63.2% of product revenue, for the three-month period ended December 31, 2008 as compared to $1,942,000, or 61.6% of product revenue, for the same period last fiscal year. Margins on Drews instruments continue to range between 10% and 20% depending on the product. These lower margin sales are offset by the margins achieved on reagent sales which ranged from 50% to 60% during the periods ended December 31, 2008 and 2007, respectively.
Cost of goods sold in the EMI business segment totaled $314,000, or 58.2% of product revenue, for the three-month period ended December 31, 2008 as compared to $237,000, or 42.3% of product revenue, during the same period last fiscal year. The increase in cost of goods sold as a percentage of revenue is due to the product mix sold during the quarter.
Cost of goods sold in the Medical/Trek business segment totaled $228,000, or 73.6% of product revenue, for the three-month period ended December 31, 2008 as compared to $212,000, or 64.1% of
Cost of goods sold in the Drew business segment totaled $5,049,000, or 63.1% of product revenue, for the six-month period ended December 31, 2008 as compared to $3,844,000, or 62.1% of product revenue, for the same period last fiscal year. Margins on Drews instruments continue to range between 10% and 20% depending on the product. These lower margin sales are offset by the margins achieved on reagent sales which ranged from 50% to 60% during the periods ended December 31, 2008 and 2007, respectively
Cost of goods sold in the EMI business segment totaled $531,000, or 49.8%, of product revenue for the six-month period ended December 31, 2008 as compared to $464,000, or 49.5%, of product revenue, during the same period last fiscal year.
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