ADEZA ANNOUNCES THIRD QUARTER 2005 FINANCIAL RESULTS
Reports 13thConsecutive 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
Net income for the third quarter of 2005 was $2.2 million, marking the companys 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 companys 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.
View differences made from one quarter to another to evaluate Adeza Biomedical Corp's financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed, and by Adeza Biomedical Corp.
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