Regeneration Technologies Inc. (RTIX, Financial) filed Quarterly Report for the period ended 2010-06-30.
Regeneration Technologies Inc. has a market cap of $145.53 million; its shares were traded at around $2.66 with a P/E ratio of 29.56 and P/S ratio of 0.88.
Marketing, General and Administrative Expenses. Marketing, general and administrative expenses decreased by $759,000, or 2.5%, to $29.3 million for the six months ended June 30, 2010 from $30.1 million for the six months ended June 30, 2009. Marketing, general and administrative expenses decreased as a percentage of revenues from 37.7% for the six months ended June 30, 2009 to 37.1% for the six months ended June 30, 2010. The decrease was primarily due to lower legal and incentive compensation of $1.4 million and $350,000 respectively, partially offset by an increase in distributor commissions of $1.1 million.
Net Other Expense. Net other expense was $196,000 for the six months ended June 30, 2010 compared to $92,000 for the six months ended June 30, 2009. Interest expense increased for the six months ended June 30, 2010 to $307,000 from $253,000 for the six months ended June 30, 2009 due to higher interest paid on long-term obligations. Interest income decreased for the six months ended June 30, 2010 to $63,000 from $198,000 for the six months ended June 30, 2009 due to the lower interest earned on the investment of excess cash in interest bearing cash equivalents than the comparable prior year period. Foreign exchange gain was $48,000 for the six months ended June 30, 2010 compared to a foreign exchange loss of $37,000 for the six months ended June 30, 2009 due to changes in the value of the U.S. dollar versus the Euro and the timing of payments on foreign currency liabilities.
Our cash used in investing activities was $453,000 for the three months ended June 30, 2010, compared to $1.7 million for the three months ended June 30, 2009. Our investing activities for the three months ended June 30, 2010 consisted of purchases of property, plant and equipment of $347,000 and patent costs of $106,000. Our investing activities for the three months ended June 30, 2009 consisted primarily of purchases of property, plant and equipment of $1.6 million and patent costs of $112,000. The decrease in purchases of property, plant and equipment was due to timing of payments to certain vendors and the timing of purchases under our annual capital acquisition plan.
Our cash used in financing activities was $1.8 million for the three months ended June 30, 2010 compared to cash provided by financing activities of $365,000 for the three months ended June 30, 2009. Cash used in financing activities for the three months ended June 30, 2010 consisted primarily of net payments on short-term obligations of $250,000 and payments on long-term obligations of $3.5 million partially offset by proceeds from long-term obligations of $1.5 million and proceeds from exercise of common stock options of $483,000.
Our cash used in financing activities was $2.5 million for the six months ended June 30, 2010 compared to cash provided by financing activities of $348,000 for the six months ended June 30, 2009. Cash used in financing activities for the six months ended June 30, 2010 consisted primarily of net payments on short-term obligations of $1.0 million and payments on long-term obligations of $6.4 million partially offset by proceeds from long-term obligations of $4.3 million, and proceeds from exercise of common stock options of $745,000.
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Regeneration Technologies Inc. has a market cap of $145.53 million; its shares were traded at around $2.66 with a P/E ratio of 29.56 and P/S ratio of 0.88.
Highlight of Business Operations:
Net Other Expense. Net other expense was $88,000 for the three months ended June 30, 2010 compared to $185,000 for the three months ended June 30, 2009. Interest expense increased for the three months ended June 30, 2010 to $141,000 from $130,000 for the three months ended June 30, 2009 due to higher interest paid on long-term obligations. Interest income decreased for the three months ended June 30, 2010 to $27,000 from $87,000 for the three months ended June 30, 2009 due to the lower interest earned on the investment of excess cash in interest bearing cash equivalents than the comparable prior year period. Foreign exchange gain was $26,000 for the three months ended June 30, 2010 compared to a foreign exchange loss of $142,000 for the three months ended June 30, 2009 due to changes in the value of the U.S. dollar versus the Euro and the timing of payments on foreign currency liabilities.Marketing, General and Administrative Expenses. Marketing, general and administrative expenses decreased by $759,000, or 2.5%, to $29.3 million for the six months ended June 30, 2010 from $30.1 million for the six months ended June 30, 2009. Marketing, general and administrative expenses decreased as a percentage of revenues from 37.7% for the six months ended June 30, 2009 to 37.1% for the six months ended June 30, 2010. The decrease was primarily due to lower legal and incentive compensation of $1.4 million and $350,000 respectively, partially offset by an increase in distributor commissions of $1.1 million.
Net Other Expense. Net other expense was $196,000 for the six months ended June 30, 2010 compared to $92,000 for the six months ended June 30, 2009. Interest expense increased for the six months ended June 30, 2010 to $307,000 from $253,000 for the six months ended June 30, 2009 due to higher interest paid on long-term obligations. Interest income decreased for the six months ended June 30, 2010 to $63,000 from $198,000 for the six months ended June 30, 2009 due to the lower interest earned on the investment of excess cash in interest bearing cash equivalents than the comparable prior year period. Foreign exchange gain was $48,000 for the six months ended June 30, 2010 compared to a foreign exchange loss of $37,000 for the six months ended June 30, 2009 due to changes in the value of the U.S. dollar versus the Euro and the timing of payments on foreign currency liabilities.
Our cash used in investing activities was $453,000 for the three months ended June 30, 2010, compared to $1.7 million for the three months ended June 30, 2009. Our investing activities for the three months ended June 30, 2010 consisted of purchases of property, plant and equipment of $347,000 and patent costs of $106,000. Our investing activities for the three months ended June 30, 2009 consisted primarily of purchases of property, plant and equipment of $1.6 million and patent costs of $112,000. The decrease in purchases of property, plant and equipment was due to timing of payments to certain vendors and the timing of purchases under our annual capital acquisition plan.
Our cash used in financing activities was $1.8 million for the three months ended June 30, 2010 compared to cash provided by financing activities of $365,000 for the three months ended June 30, 2009. Cash used in financing activities for the three months ended June 30, 2010 consisted primarily of net payments on short-term obligations of $250,000 and payments on long-term obligations of $3.5 million partially offset by proceeds from long-term obligations of $1.5 million and proceeds from exercise of common stock options of $483,000.
Our cash used in financing activities was $2.5 million for the six months ended June 30, 2010 compared to cash provided by financing activities of $348,000 for the six months ended June 30, 2009. Cash used in financing activities for the six months ended June 30, 2010 consisted primarily of net payments on short-term obligations of $1.0 million and payments on long-term obligations of $6.4 million partially offset by proceeds from long-term obligations of $4.3 million, and proceeds from exercise of common stock options of $745,000.
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