BSD Medical Corporation
), a leader in providing medical systems for treatment of cancer
and other invasive diseases, reported a third-quarter fiscal 2012
loss per share of 7 cents, higher than the Zacks Consensus Estimate
of a loss of 6 cents. The year-ago loss was 3 cents a share.
Net loss for the quarter came in at $2.1 million compared with a
net loss of $0.8 million in the prior-year quarter.
Revenues dwindled 61.1% year over year to $0.6 million in the
reported quarter, missing the Zacks Consensus Estimate of $1.0
Despite increased sales of disposable Synchro Wave antennae,
coupled with profitable rental fees for its MicroThermX Microwave
Ablation System, revenues declined due to falling hyperthermia
system sales. Austerity measures in the international markets and
the impact of healthcare reforms in the domestic market were
primarily responsible for lower hyperthermia system sales.
Gross margin in the reported quarter came in at 30.8% compared
with 61.7% in the year-ago period.
Selling, general and administrative expenses increased 20.0%
year over year to $1.7 million in the reported quarter while
research and development expenses rose 33.1% year over year to $0.6
BSD Medical exited the third quarter with cash and cash
equivalents to $12.7 million, down 25.7% since August 31, 2011. The
company had no long-term debt as of May 31, 2012.
BSD Medical is a developer, manufacturer and supplier of medical
systems which deliver accurate radio-frequency and microwave energy
for the treatment of cancer. The company's revenues currently rely
on a small number of systems. It plans to enhance its product
portfolio to diversify its sales base in the near-term.
The company faces a tough competitive landscape which includes
Boston Scientific Corporation
). Additionally, the economic crisis and government healthcare
reforms remain as overhangs.
ANGIODYNAMICS (ANGO): Free Stock Analysis
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