Please wait while we load the requested 10-K report or click the link below:
https://last10k.com/sec-filings/report/764579/000107261319000145/cas_10k-18299.htm
April 2019
April 2019
March 2019
February 2019
January 2019
October 2018
August 2018
June 2018
May 2018
May 2018
EXHIBIT 99.1
CASMED Reports Preliminary Net Sales for the 2018 Fourth Quarter and Full Year
Record Q4 FORE-SIGHT® cerebral oximetry sales drive 18% full-year FORE-SIGHT sales growth
Introduces 2019 FORE-SIGHT sales guidance
BRANFORD, Conn., Jan. 03, 2019 (GLOBE NEWSWIRE) --
CAS Medical Systems, Inc. (NASDAQ: CASM) (CASMED), a leader in non-invasive cerebral oximetry patient monitoring, reports preliminary unaudited topline results for the three and 12 months ended December 31, 2018.The Company expects net sales from continuing operations for the fourth quarter of 2018 to be approximately $5.8 million, up 13% from $5.1 million for the fourth quarter of 2017. Net sales from continuing operations for 2018 are expected to be approximately $21.9 million, up 17% from $18.8 million for 2017.
FORE-SIGHT highlights for the 2018 fourth quarter and full year compared with the respective prior-year periods are expected to include the following:
“I’m pleased to report record FORE-SIGHT oximetry sales for the fourth quarter, with strong growth coming from the U.S. and international markets and our fifth consecutive quarter of year-over-year double-digit FORE-SIGHT sales increases,” said Thomas M. Patton, President and Chief Executive Officer of CASMED. “FORE-SIGHT disposable sensor sales for the quarter grew 20% and represented 90% of total sales. We attribute this growth primarily to strong execution by our maturing domestic salesforce and growth from key international distributors as we expand the market for our FORE-SIGHT products worldwide.
“It was gratifying to ship our first production of FORE-SIGHT OEM smart cables to our corporate partner in late-December,” he added. “Given our progress, we are on track to commercially launch our FORE-SIGHT OEM smart cables in mid-2019.
“Excluding potential OEM smart cable sales, for 2019 we expect low-teens percentage growth in U.S. FORE-SIGHT sales, driven by mid-teens percentage growth in U.S. disposable sensor sales, as we continue to take market share from competitors and expand the market for cerebral and tissue oximetry monitoring. We expect international FORE-SIGHT sales to increase in the high single-digit percentages. Therefore, before OEM sales, we expect low double-digit total FORE-SIGHT sales growth for the year. We plan to update our 2019 outlook in mid-2019 to include the contribution from OEM smart cables,” Patton concluded.
CASMED expects to report financial results for the 2018 fourth quarter and full year, and to hold an investment-community conference call in early March 2019.
About CASMED® – Monitoring What's Vital
CASMED’s vision is: “That no patient is harmed by undetected tissue hypoxia.” Our FORE-SIGHT® Cerebral Oximeters provide a highly accurate, non-invasive measurement of tissue oxygenation in the brain. Direct monitoring of tissue oxygenation can provide clinicians with a superior and powerful tool to alert them to otherwise unrecognized and dangerous hypoxia, or low levels of oxygen, in the brain and other tissue, thereby empowering them to improve patient care. For further information regarding CASMED, visit the Company's website at www.casmed.com.
Statements included in this press release, which are not historical in nature, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements relating to the future performance of the Company are subject to many factors including, but not limited to, customer acceptance of the products in the market, the introduction of competitive products and product development, the impact of any product liability or other adverse litigation, working capital and availability of capital, commercialization and technological difficulties, the impact of actions and events involving key customers, vendors, lenders, competitors, and other risks detailed in the Company’s Form 10-K for the year ended December 31, 2017, and other subsequent Securities and Exchange Commission filings.
Such statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. When used in this press release, the terms "anticipate", "believe", "estimate", "expect", "may", "objective", "plan", "possible", "potential", "project", "will", and similar expressions identify forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof, and we do not undertake any obligation to update any forward-looking statements, whether as a result of future events, new information, or otherwise.
Company Contact CAS Medical Systems, Inc. Jeffery A. Baird Chief Financial Officer (203) 315-6303 ir@casmed.com Investors LHA Investor Relations Bruce Voss / Jody Cain (310) 691-7100 bvoss@lhai.com jcain@lhai.com |
Please wait while we load the requested 10-K report or click the link below:
https://last10k.com/sec-filings/report/764579/000107261319000145/cas_10k-18299.htm
Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Cas Medical Systems Inc.
Cas Medical Systems Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:
Rating
Learn More
The events of default under the Loan Agreement include payment defaults, breaches of covenants or representations and warranties, a material adverse change, certain adverse regulatory events, specified change of control events, and bankruptcy events.
Increased revenues, higher gross profit margins, and controlled spending accounted for the improvement in operating results.
Interest expense for 2018 was $1,470,000, an increase of $393,000 over 2017, reflecting increased debt levels, higher interest rates, and amortization of deferred finance charges.
Financial Condition, Liquidity, and Capital Resources The Company's continuing operations used $2,598,000 of cash for 2018, compared to $4,675,000 used in continuing operations during 2017, largely due to favorable changes in working capital items, such as accounts payable and accrued expense.
On the terms and subject to the conditions set forth in the Merger Agreement, at the effective time of the Merger (the "Effective Time") and as a result of the Merger, each share of Company common stock issued and outstanding immediately prior to the Effective Time (other than shares of Company common stock owned by the Company as treasury stock or owned directly by the Acquiror or any of its subsidiaries (including Merger Sub) or shares of Company common stock the holders of which have properly perfected their appraisal rights under Delaware law) will be converted into the right to receive $2.45 per share in cash (the "Merger Consideration") without interest or dividends thereon.
The Merger Agreement also provides...Read more
Management further believes that given...Read more
The Merger Agreement also provides...Read more
Slightly lower average selling prices...Read more
The 2018 expenditures included approximately...Read more
Those five steps are as...Read more
As a result of the...Read more
Total U.S. sales increased $2,376,000,...Read more
The following table provides tissue...Read more
The improvement was primarily related...Read more
Total worldwide sales from continuing...Read more
The following table provides comparative...Read more
The increases in spending resulted...Read more
Our 2018 achievements include the...Read more
Management estimates it can achieve...Read more
The Merger Agreement On February...Read more
The Loan Agreement contains customary...Read more
The five-year FORE-SIGHT sales compound...Read more
International sales increased $781,000, or...Read more
Tissue oximetry sales were responsible...Read more
Selling, general, and administrative ("S,G&A;")...Read more
Worldwide sales of oximetry monitors...Read more
The decrease of $52,000, or...Read more
The tariff costs negatively impacted...Read more
During 2018, the Company entered...Read more
The Company financed its directors'...Read more
Income tax expense of $1,745,000...Read more
The following accounting policies are...Read more
Upon an event of default,...Read more
With the divestiture of its...Read more
Terms of sale for most...Read more
The value of the Warrant...Read more
The note payable requires ten...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
Cas Medical Systems Inc provided additional information to their SEC Filing as exhibits
Ticker: CASM
CIK: 764579
Form Type: 10-K Annual Report
Accession Number: 0001072613-19-000145
Submitted to the SEC: Mon Mar 25 2019 12:20:16 PM EST
Accepted by the SEC: Mon Mar 25 2019
Period: Monday, December 31, 2018
Industry: Surgical And Medical Instruments And Apparatus