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Adeza Biomedical Corp (902482) SEC Filing 10-Q Quarterly report for the period ending Friday, September 30, 2005

Adeza Biomedical Corp

CIK: 902482
 

EXHIBIT 99.1
(ADEZA LOGO)
     
COMPANY CONTACT:
  INVESTOR CONTACTS:
Mark Fischer-Colbrie
  Jody Cain (jcain@lhai.com)
Chief Financial Officer
  Bruce Voss (bvoss@lhai.com)
Adeza Biomedical Corporation
  Lippert/Heilshorn & Associates, Inc.
(408) 745-0975 ext 520
  (310) 691-7100
ir@adeza.com
   
For Immediate Release
ADEZA ANNOUNCES THIRD QUARTER 2005 FINANCIAL RESULTS
Reports 13th Consecutive Quarter of Profitability on Record Product Sales
Conference Call Begins at 4:30 p.m. Eastern Time Today
SUNNYVALE, Calif. (November 2, 2005)
- Adeza (NASDAQ: ADZA) today announced financial results for the three and nine months ended September 30, 2005.
Adeza reported record quarterly product sales of $11.4 million for the third quarter of 2005, an increase of 30% from product sales of $8.8 million for the third quarter of 2004. This increase is primarily attributable to higher sales volume of FullTerm®, The Fetal Fibronectin Test.
Net income for the third quarter of 2005 was $2.2 million, marking the company’s 13th consecutive profitable quarter. This compares with net income of $5.2 million for the third quarter of 2004, which included a one-time decrease in royalty expenses of $3.7 million. Diluted earnings per share for the third quarter of 2005 was $0.12 based on 17.9 million shares outstanding, up from the $0.10 reported in the second quarter of 2005, and compared with diluted earnings per share of $0.39 based on 13.5 million shares outstanding for the third quarter of 2004, which included the one-time decrease in royalty expense. The change in share count is primarily the result of the completion of the company’s initial public offering of 4.3 million common shares in December 2004.
For the three months ended September 30, 2005, selling and marketing expenses were $4.6 million, up from $4.2 million for the comparable period in 2004, due mainly to expansion of the direct sales force and marketing programs. General and administrative expenses for the quarter increased to $2.0 million from $1.1 million in the prior-year third quarter, due primarily to costs associated with operating as a public company. Research and development expenses were $1.6 million for the third quarter of 2005, compared with $0.6 million last year, due primarily to costs related to expanded product development efforts and clinical studies.

 


The following information was filed by Adeza Biomedical Corp on Wednesday, November 2, 2005 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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SEC Filing Tools
CIK: 902482
Form Type: 10-Q Quarterly Report
Accession Number: 0000950134-05-021462
Submitted to the SEC: Mon Nov 14 2005 2:42:02 PM EST
Accepted by the SEC: Mon Nov 14 2005
Period: Friday, September 30, 2005
Industry: Instruments For Meas And Testing Of Electricity And Elec Signals

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