Bioject Medical Technologies (Bioject Medical Technologies) Operating Income : $0.29 Mil (TTM As of Sep. 2011)

View and export this data going back to . Start your Free Trial

What is Bioject Medical Technologies Operating Income?

Bioject Medical Technologies's Operating Income for the three months ended in Sep. 2011 was $0.42 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Sep. 2011 was $0.29 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Bioject Medical Technologies's Operating Income for the three months ended in Sep. 2011 was $0.42 Mil. Bioject Medical Technologies's Revenue for the three months ended in Sep. 2011 was $3.14 Mil. Therefore, Bioject Medical Technologies's Operating Margin % for the quarter that ended in Sep. 2011 was 13.36%.

Bioject Medical Technologies's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Bioject Medical Technologies's annualized ROC % for the quarter that ended in Sep. 2011 was 55.09%. Bioject Medical Technologies's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2011 was 368.42%.

Bioject Medical Technologies Operating Income Historical Data

The historical data trend for Bioject Medical Technologies's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Bioject Medical Technologies Operating Income Chart

Bioject Medical Technologies Annual Data

Trend

Mar01

Mar02

Dec03

Dec04

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Operating Income

Get a 7-Day Free Trial

-6.41

-3.88

-2.50

-0.88

-1.69

Bioject Medical Technologies Quarterly Data
	Dec06	Mar07	Jun07	Sep07	Dec07	Mar08	Jun08	Sep08	Dec08	Mar09	Jun09	Sep09	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11
Operating Income	Get a 7-Day Free Trial															-0.33	-0.26	-0.15	0.28	0.42

Bioject Medical Technologies Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Sep. 2011 adds up the quarterly data reported by the company within the most recent 12 months, which was $0.29 Mil.

Bioject Medical Technologies (OTCPK:BJCT) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Bioject Medical Technologies's annualized ROC % for the quarter that ended in Sep. 2011 is calculated as:

	ROC % (Q: Sep. 2011 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2011 )	+	Invested Capital (Q: Sep. 2011 ))	/ count )
=	1.68 * ( 1 - 0% )	/	( (3.154	+	2.945)	/ 2 )
=	1.68	/	3.0495
=	55.09 %

where

	Invested Capital		(Q: Jun. 2011 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	4.882	-	1.623	-	( 0.894	-	max(0, 2.972	-	3.077	+	0.894	))
=	3.154

	Invested Capital		(Q: Sep. 2011 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	4.624	-	1.162	-	( 1.014	-	max(0, 2.311	-	2.828	+	1.014	))
=	2.945

Note: The Operating Income data used here is four times the quarterly (Sep. 2011) data.

2. Joel Greenblatt's definition of Return on Capital:

Bioject Medical Technologies's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2011 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2011 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2011		Q: Sep. 2011
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	1.68	/	( ( (0.476 + max(-0.564, 0))	+	(0.436 + max(-0.272, 0)) )	/	2 )
=	1.68	/	( ( 0.476	+	0.436 )	/	2 )
=	1.68	/	0.456
=	368.42 %

where Working Capital is:

	Working Capital		(Q: Jun. 2011 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.522	+	1.501	+	0.16)	-	(1.623	+	0.36	+	0.764)
=	-0.564

	Working Capital		(Q: Sep. 2011 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.844	+	0.893	+	0.077)	-	(1.162	+	0.176	+	0.748)
=	-0.272

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Sep. 2011) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Bioject Medical Technologies's Operating Margin % for the quarter that ended in Sep. 2011 is calculated as:

Operating Margin %	=	Operating Income (Q: Sep. 2011 )	/	Revenue (Q: Sep. 2011 )
	=	0.42	/	3.144
	=	13.36 %

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Bioject Medical Technologies Operating Income Related Terms

Thank you for viewing the detailed overview of Bioject Medical Technologies's Operating Income provided by GuruFocus.com. Please click on the following links to see related term pages.

Bioject Medical Technologies (Bioject Medical Technologies) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Bioject Medical Technologies Inc (OTCPK:BJCT) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

N/A

Address

Website

http://www.bioject.com

Bioject Medical Technologies Inc commenced operations in 1985 and is a developer and manufacturer of needle-free injection therapy systems (NFITS). The Companys long-term goal is to become supplier of needle-free injection systems to the pharmaceutical and biotechnology industries. It focused its business development efforts on new and existing licensing and supply agreements with pharmaceutical and biotechnology companies, as well as numerous research agreements that could guide to long-term agreements. The Companys pipeline of prospective new partnerships remains active. It is also actively pursuing additional opportunities both domestically and overseas as it expands its current product line. The Companys Biojector 2000 system (B2000) consists of two components: a hand-held, reusable jet injector and a sterile, single-use, disposable plastic syringe capable of delivering variable doses of medication up to 1.0 mL. Drug Reconstitution System - The needle-free drug reconstitution system allows for the transfer of diluents to reconstitute powdered medications into liquid form and withdrawal of liquid medication into a syringe without the use of a needle. Vitajet - The Vitajet is also composed of two components, a portable injector unit and a disposable syringe. It is smaller and lower in cost than other products in its needle-free offering. ZetaJet - The ZetaJet is Biojects latest advance in needle-free delivery systems. It consists of two components, the portable injector and an auto-disabling disposable syringe. The medical equipment market is very competitive. Bioject Medical Technologies has two patents: Biojector 2000 and Vitajet. The Companys products and manufacturing operations are subject to extensive government regulations, both in the U.S. and abroad. In the U.S., the Food and Drug Administration (FDA) administers the Federal Food, Drug and Cosmetic Act (FFDCA) and has adopted regulations to administer the FFDCA.

Executives

James C Gale	director	152 W 57TH STREET, 19TH FLOOR, NEW YORK NY 10019
Sanders Morris Harris Inc/fa	10 percent owner, other: See General Remarks	600 TRAVIS, SUITE 5900, HOUSTON TX 77002
David S Tierney	director	C/O ABLE LABORATORIES, INC., 6 HOLLYWOOD COURT, CN 1013, SOUTH PLAINFIELD NJ 07080
Edward L Flynn	director, 10 percent owner	211 SOMERVILLE ROAD RTE 202N, BEDMINISTER NJ 07921
Life Sciences Opportunities Fund Ii Lp	10 percent owner	152 W 57TH STREET 19TH FLOOR NEW YORK NY 10019
Lof Partners Llc	other: See general remarks	152 W 57TH STREET 19TH FLOOR NEW YORK NY 10019
Life Sciences Opportunities Fund Instittutional Ii Lp	10 percent owner	152 W 57TH STREET 19TH FLOOR NEW YORK NY 10019
Randal D Chase	director	28 GEORGIA COURT, RICHMOND HILL A6 L4E ON7
Brigid Makes	director	20245 SW 95TH AVENUE, TUALATIN OR 97062
J Michael Redmond	officer: Sr. VP Bus Dev.	10 CANTERBURY ROAD, WINDHAM NH 03087
Elan Corp Plc	10 percent owner	TREASURY BUILDING, LOWER GRAND CANAL STREET, DUBLIN 2 L2 00000
Elan International Services Ltd	10 percent owner	C/O TREASURY BUILDING, LOWER GRAND CANAL STREET, DUBLIN L2 2
Elan Pharmaceutical Investments Ltd	10 percent owner	102 ST JAMES COURT, FIETSS SMITH FL BERM D0 9999999999
John P Gandolfo	officer: CFO	62 TERRACE ROAD, WAYNE NJ 07470
Grace K Fey	director	1210 CROMWELL ROAD, HALIFAX NOVA SCOTIA A5 B3H4L2

Bioject Medical Technologies (Bioject Medical Technologies) Headlines

No Headlines