Theragenics Corporation(R) (NYSE: TGX), Buford, Geo., a provider of
brachytherapy products that include TheraSeed(R), its premier
palladium-103 prostate cancer treatment device, and wound closure
products through its CP Medical product line, has announced financial
results for the second quarter ended July 3, 2005. Revenues for the
quarter were $11.4 million, which includes $2.1 million in revenues from
our newly acquired subsidiary, CP Medical. Revenues, excluding CP
Medical sales, were $9.3 million for the quarter, compared to $8.6
million in the same period last year, a 7.3% increase. This includes
increases in both TheraSeed(R) and I-Seed products. For the half-year
period, total revenues were $20.9 million, including CP Medical's
sales. Excluding CP Medical sales, revenues in the six-month period were
$18.8 million, compared to the prior year's $16.6 million, a 13.3%
increase.
Net loss computed in accordance with generally accepted accounting
principles in the U.S. (GAAP) for the quarter was $1.0 million, or $0.03
per share, compared to a net loss of $0.9 million, or $0.03 per share in
the second quarter of 2004. For the half-year period, the GAAP net loss
was $1.5 million, or $0.05 per share, compared to a net loss of $1.9
million, or $0.06 per share, in the comparable 2004 period. GAAP results
for the second quarter of 2005 reflect $1.1 million of expenses, or $0.7
million after income tax effect, related to the previously disclosed
investigation conducted under the direction of the Board of Directors
and the separation of two executives from the company. On a non-GAAP
basis, excluding these second quarter expenses, the net loss would have
been $0.3 million, or $0.01 per share for the second quarter of 2005,
and $0.8 million, or $0.03 per share for the first six months of 2005.
Commenting on the quarter, CEO and president M. Christine Jacobs
stated, "We are pleased with the positive performance of both our
core brachytherapy seed and wound closure businesses. Our brachytherapy
seed revenues during the quarter showed improvement over the prior year,
and we continue to be encouraged by the results from our direct sales
force and our marketing campaigns. Although this quarter includes just
eight weeks of results from CP Medical, we have experienced positive
early results and believe that CP Medical has already begun to deliver
on the promise of diversifying our product and revenue stream."
Theragenics Corporation(R) (NYSE: TGX) is a provider of
brachytherapy and wound closure products. The Georgia-based medical
device company manufacturers and markets its premier product, the
palladium-103 TheraSeed(R) device (www.theraseed.com) and I-Seed, an
iodine-125 device, which are used in the minimally invasive treatment of
localized prostate cancer. Through its subsidiary, CP Medical
(www.cpmedical.com), the company also manufactures and distributes
medical products for diverse markets including wound closure and cardiac
pacing, as well as the general, dental, cosmetic and veterinary surgery
markets. The company is the world's largest producer of
palladium-103. Theragenics continues to expand its legacy of delivering
products that change lives for the better.
For more information, call 800/998-8479 or 770/271-0233 visit
http://www.theragenics.com.
COPYRIGHT 2005 Worldwide
Videotex Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission.
Copyright 2005, Gale Group. All rights
reserved. Gale Group is a Thomson Corporation Company.
NOTE: All illustrations and photos have been removed from this article.