Encision Reports First Quarter Fiscal Year 2023 Results
Encision Reports First Quarter Fiscal Year 2023 Results
BOULDER, CO / ACCESSWIRE / August 9, 2022 / Encision Inc. (OTC PINK:ECIA), a medical device company owning patented Active Electrode Monitoring (AEM®) Technology that prevents dangerous radiant energy burns in minimally invasive surgery, today announced financial results for its fiscal year 2023 first quarter that ended June 30, 2022.
科羅拉多州博爾德,ACCESSWIRE/2022年8月9日/Encision Inc.(場外交易代碼:ECIA)是一家醫療設備公司,擁有獲得專利的主動電極監測(AEM®)技術,可防止微創手術中危險的輻射能量燒傷。該公司今天公佈了截至2022年6月30日的2023財年第一季度財務業績。
The Company posted quarterly net revenue of $2.15 million for a quarterly net income of $265 thousand, or $0.02 per diluted share. These results compare to net revenue of $2.01 million for a quarterly net loss of $7 thousand, or $0.00 per diluted share, in the year-ago quarter. Gross margin on net revenue was 60% in the fiscal 2023 first quarter and 51% in the fiscal 2022 first quarter. Gross margin increased in the current year's first quarter compared to last year's first quarter due principally to higher service revenue gross margin.
該公司公佈的季度淨收入為215萬美元,季度淨收入為26.5萬美元,或每股稀釋後收益0.02美元。與此相比,去年同期的淨收入為201萬美元,季度淨虧損為7000美元,或每股稀釋後收益為0.00美元。2023財年第一季度的毛利率為60%,2022財年第一季度的毛利率為51%。與去年第一季度相比,今年第一季度的毛利率有所增加,這主要是由於服務收入毛利率上升所致。
"The first quarter presented significant challenges for Encision," said Gregory Trudel, President and CEO of Encision Inc. "During the first quarter of fiscal year 2023 and fiscal year 2022, COVID resurgences continued to impact procedure volumes. COVID has had, and will likely continue to have, an adverse impact on our procedure volumes. We continue to encounter supply chain issues and work tirelessly to deliver a steady mix of products to our customers who depend on us. Encision continues to be positive as we navigate the ups and downs of the pandemic market and the new-normal supply chain turmoil. We continuously look for opportunities to serve our customers with new products, to work smarter, and to drive increased efficiencies. In spite of limited customer access, our sales and marketing efforts are yielding new customers for our new EnTouchâ 2X Scissors and recently released AEM® Shield Disposable Electrodes. We look forward to the contributions that these new products will make as the market bounces back."
Encision Inc.首席執行官兼首席執行官總裁格雷戈裏·特魯德爾表示:“第一季度對Encision提出了重大挑戰。”在2023財年第一季度和2022財年第一季度,COVID迴流繼續影響程序量。COVID已經並可能繼續對我們的程序量產生不利影響。我們繼續遇到供應鏈問題,不知疲倦地工作,為依賴我們的客户提供穩定的產品組合。在經歷大流行市場的起伏和新常態的供應鏈動盪之際,Encision繼續持積極態度。我們不斷尋找機會,為我們的客户提供新產品,更智能地工作,並提高效率。儘管我們的客户渠道有限,但我們的銷售和營銷努力正在為我們的新款EnTouch?2X剪刀和最近發佈的AEM®屏蔽一次性電極帶來新的客户。我們期待着隨着市場的反彈,這些新產品將做出貢獻。“
"Service revenue for our first quarter of fiscal year 2023 resulted from services performed under a Supply Agreement with Auris Health, Inc. ("Auris Health"), a part of the Johnson & Johnson family of companies. Under the agreement, Encision collaborated on the integration of AEM® Technology into monopolar instrumentation produced by Auris Health for advanced surgical applications. On August 23, 2021, we entered into a Supply Agreement with Auris Health. Towards the end of the first quarter business needs took a different direction and on May 5, 2022, the parties mutually agreed to terminate all the agreements. We enjoyed collaborating with the team at J&J and we look forward to future opportunities to work together."
我們2023財年第一季度的服務收入來自與強生家族公司之一的奧里斯健康公司(“奧里斯健康”)簽訂的供應協議所提供的服務。根據協議,Encision合作將AEM®技術整合到奧里斯健康公司生產的單極儀器中,用於先進的外科應用。2021年8月23日,我們與Auris Health簽訂了供應協議。接近第一季度末,業務需求採取了不同的方向,2022年5月5日,雙方共同同意終止所有協議。我們很高興與強生的團隊合作,我們期待着未來的合作機會。“
Encision Inc. designs and markets a portfolio of high-performance surgical instrumentation that delivers advances in patient safety with AEM technology, surgical performance, and value to hospitals across a broad range of minimally invasive surgical procedures. Based in Boulder, Colorado, the company pioneered the development and deployment of Active Electrode Monitoring, AEM technology, to eliminate dangerous stray energy burns during minimally invasive procedures. For additional information about all our products, please visit .
Encision Inc.設計和營銷一系列高性能手術器械,通過AEM技術為醫院提供先進的AEM技術、手術性能和價值,通過各種微創手術程序為醫院提供安全保障。該公司總部設在科羅拉多州博爾德市,率先開發和部署了主動電極監測(AEM)技術,以消除微創手術中危險的雜散能量燒傷。有關我們所有產品的更多信息,請訪問。
In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Company notes that statements in this press release and elsewhere that look forward in time, which include everything other than historical information, involve risks and uncertainties that may cause actual results to differ materially from those indicated by the forward-looking statements. Factors that could cause the Company's actual results to differ materially include, among others, its ability to develop new or enhanced products and have such products accepted in the market, its ability to increase net sales through the Company's distribution channels, its ability to compete successfully against other manufacturers of surgical instruments, insufficient quantity of new account conversions, insufficient cash to fund operations, delay in developing new products and receiving FDA approval for such new products and other factors discussed in the Company's filings with the Securities and Exchange Commission. Readers are encouraged to review the risk factors and other disclosures appearing in the Company's Annual Report on Form 10-K for the year ended March 31, 2022 and subsequent filings with the Securities and Exchange Commission. We do not undertake any obligation to update publicly any forward-looking statements, whether as a result of the receipt of new information, future events, or otherwise.
根據1995年《私人證券訴訟改革法》的安全港條款,該公司指出,本新聞稿和其他前瞻性陳述中的前瞻性陳述,包括歷史信息以外的所有內容,涉及風險和不確定因素,可能會導致實際結果與前瞻性陳述中顯示的大不相同。可能導致該公司實際結果大不相同的因素包括,它開發新的或增強的產品並使這些產品在市場上被接受的能力,它通過該公司的分銷渠道增加淨銷售額的能力,它與其他外科器械製造商成功競爭的能力,新賬户轉換的數量不足,為運營提供資金的現金不足,新產品的開發和獲得FDA批准這些新產品的延遲,以及該公司提交給證券交易委員會的文件中討論的其他因素。鼓勵讀者查閲該公司截至2022年3月31日的10-K表格年度報告以及隨後提交給證券交易委員會的文件中出現的風險因素和其他披露。我們不承擔任何公開更新任何前瞻性陳述的義務,無論是由於收到新信息、未來事件或其他原因。
CONTACT: Mala Ray, Encision Inc., 303-444-2600, mray@encision.com
聯繫人:Encision公司瑪拉·雷,電話:303-444-2600電子郵件:mray@encision.com
Encision Inc.
Unaudited Condensed Statements of Operations
(in thousands, except per share information)
Encision Inc.
未經審計的經營簡明報表
(單位為千,每股信息除外)
Three Months Ended | ||||||||
June 30, 2022 | June 30, 2021 | |||||||
Product revenue |
$ | 1,696 | $ | 1,718 | ||||
Service revenue |
458 | 290 | ||||||
Total revenue |
2,154 | 2,008 | ||||||
-- | ||||||||
Product cost of revenue |
870 | 838 | ||||||
Service cost of revenue |
143 | |||||||
Total cost of revenue |
870 | 981 | ||||||
Gross profit |
1,284 | 1,027 | ||||||
Operating expenses: |
||||||||
Sales and marketing |
503 | 528 | ||||||
General and administrative |
344 | 327 | ||||||
Research and development |
170 | 177 | ||||||
Total operating expenses |
1,017 | 1,032 | ||||||
Operating income (loss) |
267 | (5 | ) | |||||
Interest expense, extinguishment of debt income and other income, net |
(2 | ) | (2 | ) | ||||
Income (loss) before provision for income taxes |
265 | (7 | ) | |||||
Provision for income taxes |
-- | -- | ||||||
Net income (loss) |
$ | 265 | $ | (7 | ) | |||
Net income (loss) per share-basic and diluted |
$ | 0.02 | $ | 0.00 | ||||
Weighted average number of basic shares |
11,720 | 11,583 | ||||||
Weighted average number of diluted shares |
12,021 | 11,583 |
截至三個月 | ||||||||
2022年6月30日 | 2021年6月30日 | |||||||
產品收入 |
$ | 1,696 | $ | 1,718 | ||||
服務收入 |
458 | 290 | ||||||
總收入 |
2,154 | 2,008 | ||||||
-- | ||||||||
收入的產品成本 |
870 | 838 | ||||||
收入的服務成本 |
143 | |||||||
收入總成本 |
870 | 981 | ||||||
毛利 |
1,284 | 1,027 | ||||||
運營費用: |
||||||||
銷售和市場營銷 |
503 | 528 | ||||||
一般和行政 |
344 | 327 | ||||||
研發 |
170 | 177 | ||||||
總運營費用 |
1,017 | 1,032 | ||||||
營業收入(虧損) |
267 | (5 | ) | |||||
利息支出、清償債務收入和其他收入、淨額 |
(2 | ) | (2 | ) | ||||
未計提所得税準備的收入(虧損) |
265 | (7 | ) | |||||
所得税撥備 |
-- | -- | ||||||
淨收益(虧損) |
$ | 265 | $ | (7 | ) | |||
每股淨收益(虧損)-基本和攤薄 |
$ | 0.02 | $ | 0.00 | ||||
基本股數加權平均數 |
11,720 | 11,583 | ||||||
加權平均稀釋股數 |
12,021 | 11,583 |
Encision Inc.
Unaudited Condensed Balance Sheets
(in thousands)
Encision Inc.
未經審計的簡明資產負債表
(單位:千)
June 30, 2022 | March 31, 2022 | |||||||
ASSETS |
||||||||
Cash |
$ | 828 | $ | 950 | ||||
Accounts receivable, net |
921 | 948 | ||||||
Inventories, net |
1,799 | 1,584 | ||||||
Prepaid expenses and other assets |
101 | 120 | ||||||
Total current assets |
3,649 | 3,602 | ||||||
Equipment, net |
235 | 189 | ||||||
Right of use asset |
715 | 786 | ||||||
Patents, net |
178 | 181 | ||||||
Other assets |
42 | 34 | ||||||
Total assets |
$ | 4,819 | $ | 4,792 | ||||
LIABILITIES AND SHAREHOLDERS' EQUITY |
||||||||
Accounts payable |
$ | 388 | $ | 576 | ||||
Secured notes |
23 | 22 | ||||||
Accrued compensation |
221 | 191 | ||||||
Other accrued liabilities |
115 | 125 | ||||||
Accrued lease liability |
371 | 362 | ||||||
Total current liabilities |
1,118 | 1,276 | ||||||
Secured notes |
201 | 206 | ||||||
Accrued lease liability |
477 | 564 | ||||||
Unsecured promissory note |
-- | -- | ||||||
Total liabilities |
1,796 | 2,046 | ||||||
Common stock and additional paid-in capital |
24,288 | 24,275 | ||||||
Accumulated (deficit) |
(21,265 | ) | (21,529 | ) | ||||
Total shareholders' equity |
3,023 | 2,746 | ||||||
Total liabilities and shareholders' equity |
$ | 4,819 | $ | 4,792 |
2022年6月30日 | 2022年3月31日 | |||||||
資產 |
||||||||
現金 |
$ | 828 | $ | 950 | ||||
應收賬款淨額 |
921 | 948 | ||||||
庫存,淨額 |
1,799 | 1,584 | ||||||
預付費用和其他資產 |
101 | 120 | ||||||
流動資產總額 |
3,649 | 3,602 | ||||||
設備,網絡 |
235 | 189 | ||||||
使用權資產 |
715 | 786 | ||||||
專利,淨額 |
178 | 181 | ||||||
其他資產 |
42 | 34 | ||||||
總資產 |
$ | 4,819 | $ | 4,792 | ||||
負債和股東權益 |
||||||||
應付帳款 |
$ | 388 | $ | 576 | ||||
擔保票據 |
23 | 22 | ||||||
應計補償 |
221 | 191 | ||||||
其他應計負債 |
115 | 125 | ||||||
應計租賃負債 |
371 | 362 | ||||||
流動負債總額 |
1,118 | 1,276 | ||||||
擔保票據 |
201 | 206 | ||||||
應計租賃負債 |
477 | 564 | ||||||
無擔保本票 |
-- | -- | ||||||
總負債 |
1,796 | 2,046 | ||||||
普通股和額外實收資本 |
24,288 | 24,275 | ||||||
累計(赤字) |
(21,265 | ) | (21,529 | ) | ||||
股東權益總額 |
3,023 | 2,746 | ||||||
總負債和股東權益 |
$ | 4,819 | $ | 4,792 |
Encision Inc.
Unaudited Condensed Statements of Cash Flows
(in thousands)
Encision Inc.
未經審計的現金流量表簡明表
(單位:千)
Three Months Ended | ||||||||
June 30, 2022 | June 30, 2021 | |||||||
Operating activities: |
||||||||
Net income (loss) |
$ | 265 | $ | (7 | ) | |||
Adjustments to reconcile net income (loss) to cash
(used in) operating activities:
|
||||||||
Depreciation and amortization |
20 | 27 | ||||||
Share-based compensation expense |
12 | 8 | ||||||
(Recovery from) doubtful accounts, net |
-- | (25 | ) | |||||
(Recovery from) inventory obsolescence, net |
(1 | ) | (49 | ) | ||||
Changes in operating assets and liabilities: |
||||||||
Right of use asset, net |
(8 | ) | (5 | ) | ||||
Accounts receivable |
27 | (91 | ) | |||||
Inventories |
(214 | ) | (97 | ) | ||||
Prepaid expenses and other assets |
11 | 44 | ||||||
Accounts payable |
(188 | ) | 132 | |||||
Accrued compensation and other accrued liabilities |
20 | (65 | ) | |||||
Net cash (used in) operating activities |
(56 | ) | (128 | ) | ||||
Investing activities: |
||||||||
Acquisition of property and equipment |
(58 | ) | (7 | ) | ||||
Patent costs |
(5 | ) | (7 | ) | ||||
Net cash (used in) investing activities |
(63 | ) | (14 | ) | ||||
Financing activities: |
||||||||
(Paydown of) secured notes |
(3 | ) | (3 | ) | ||||
Net cash (used in) provided by financing activities |
(3 | ) | (3 | ) | ||||
Net (decrease) in cash |
(122 | ) | (145 | ) | ||||
Cash, beginning of period |
950 | 1,474 | ||||||
Cash, end of period |
$ | 828 | $ | 1,329 |
截至三個月 | ||||||||
2022年6月30日 | 2021年6月30日 | |||||||
經營活動: |
||||||||
淨收益(虧損) |
$ | 265 | $ | (7 | ) | |||
對淨收益(虧損)與現金進行核對的調整
(用於)經營活動:
|
||||||||
折舊及攤銷 |
20 | 27 | ||||||
基於股份的薪酬費用 |
12 | 8 | ||||||
(從)壞賬中收回,淨額 |
-- | (25 | ) | |||||
(從)陳舊庫存中回收,淨額 |
(1 | ) | (49 | ) | ||||
經營性資產和負債變動情況: |
||||||||
使用權資產淨額 |
(8 | ) | (5 | ) | ||||
應收賬款 |
27 | (91 | ) | |||||
盤存 |
(214 | ) | (97 | ) | ||||
預付費用和其他資產 |
11 | 44 | ||||||
應付帳款 |
(188 | ) | 132 | |||||
應計補償和其他應計負債 |
20 | (65 | ) | |||||
經營活動中使用的現金淨額 |
(56 | ) | (128 | ) | ||||
投資活動: |
||||||||
購置財產和設備 |
(58 | ) | (7 | ) | ||||
專利費用 |
(5 | ) | (7 | ) | ||||
淨現金(用於)投資活動 |
(63 | ) | (14 | ) | ||||
融資活動: |
||||||||
(償還)擔保票據 |
(3 | ) | (3 | ) | ||||
融資活動提供的現金淨額(用於) |
(3 | ) | (3 | ) | ||||
現金淨額(減少) |
(122 | ) | (145 | ) | ||||
期初現金 |
950 | 1,474 | ||||||
期末現金 |
$ | 828 | $ | 1,329 |
SOURCE: Encision, Inc.
資料來源:Encision,Inc.