Encision Reports Third Quarter Fiscal Year 2022 Results
Encision Reports Third Quarter Fiscal Year 2022 Results
BOULDER, CO / ACCESSWIRE / February 10, 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 2022 third quarter that ended December 31, 2021.
科羅拉多州博爾德，ACCESSWIRE/2022年2月10日/擁有主動電極監測(AEM®)專利技術的醫療設備公司Encision Inc.(場外交易粉色代碼：ECIA)今天公佈了截至2021年12月31日的2022財年第三季度財務業績，該技術可防止微創手術中危險的輻射能量燒傷。
The Company posted quarterly net revenue of $1.94 million for a quarterly net loss of $16 thousand, or $0.00 per diluted share. These results compare to net revenue of $2.16 million for a quarterly net income of $599 thousand, or $0.05 per diluted share, in the year-ago quarter. Net income in last year's quarter included $599 thousand of extinguishment of debt income. Gross margin on net revenue was 52% in the fiscal 2022 third quarter and 51% in the fiscal 2021 third quarter.
該公司公佈的季度淨收入為194萬美元，季度淨虧損1.6萬美元，或每股稀釋後虧損0.00美元。與此相比，去年同期的季度淨收益為59.9萬美元，或每股稀釋後收益0.05美元，淨收入為216萬美元。去年季度的淨收入包括59.9萬美元的債務收入清償。2022財年第三季度淨營收毛利率為52%，2021財年第三季度為51%。
The Company posted nine months net revenue of $6.07 million for a nine months net income of $337 thousand, or $0.03 per diluted share. Net income included extinguishment of debt income. These results compare to nine months net revenue of $5.39 million for a nine months net income of $469 thousand, or $0.04 per diluted share, in the year-ago nine months. Net income included extinguishment of debt income. Gross margin on net revenue was 49% in the fiscal 2022 nine months and 51% in the fiscal 2021 nine months. Gross margin in the fiscal 2022 nine months was lower due to higher material costs.
該公司公佈9個月的淨收入為607萬美元，9個月的淨收入為33.7萬美元，或每股稀釋後收益0.03美元。淨收入包括債務收入的清償。相比之下，去年同期9個月的淨收入為46.9萬美元，或每股稀釋後收益0.04美元，9個月的淨收入為539萬美元。淨收入包括債務收入的清償。2022財年9個月的淨營收毛利率為49%，2021年財年9個月的毛利率為51%。由於材料成本上升，2022財年9個月的毛利率較低。
"Total revenue, which included service revenue, decreased 10% from our third quarter revenue of last year," said Gregory Trudel, President and CEO of Encision Inc. "COVID reduced total surgical procedures and our revenues suffered as a result. We continue to be positive as we assess and navigate the ups and downs of the pandemic market and continuously look for opportunities to serve our customers and to drive adoption. Our sales and marketing efforts are yielding new customers for our EnTouchâ 2X Scissors and we look forward to their contributions as the market bounces back."
Encision Inc.總裁兼首席執行官格雷戈裏·特魯德爾(Gregory Trudel)表示：“包括服務收入在內的總收入比去年第三季度下降了10%。”COVID減少了手術總數，我們的收入也因此受到影響。我們在評估和駕馭大流行市場的起伏時繼續持積極態度，並不斷尋找機會為我們的客户提供服務和推動採用。我們的銷售和營銷努力正在為我們的EnTouch-2X剪刀帶來新的客户，我們期待着隨着市場的反彈他們的貢獻。“
"Service revenue for our third quarter of fiscal 2022 resulted from services performed under a Master Services Agreement with Auris Health, Inc. ("Auris Health"), a part of the Johnson & Johnson family of companies. Under the agreement, we are collaborating on the integration of AEM Technology into monopolar instrumentation produced by Auris Health for advanced surgical applications. This work is ongoing and is reported separately, as service revenue, in our Statement of Operations."
我們2022財年第三季度的服務收入來自與強生家族公司中的奧里斯健康公司(簡稱奧里斯健康公司)簽訂的主服務協議下提供的服務。根據該協議，我們正在合作將AEM技術整合到奧里斯健康公司生產的單極器械中，用於先進的外科應用。這項工作正在進行中，並在我們的運營報表中作為服務收入單獨報告。
"In August 2021, we signed a Supply Agreement with Auris Health. During the term of the agreement, Auris has agreed to buy certain AEM® Technology enabled products exclusively from us. We are proud of being awarded this agreement and look forward to our continued relationship with Auris."
2021年8月，我們與Auris Health簽署了一項供應協議。在協議期限內，Auris已同意從我們那裏獨家購買某些AEM®Technology Enabled產品。我們為獲得這份協議而感到自豪，並期待着我們與Auris繼續保持關係。“
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、手術性能和價值為醫院提供廣泛的微創手術過程中患者安全方面的進步。該公司總部設在科羅拉多州博爾德市，率先開發和部署了有源電極監測(AEM)技術，以消除微創手術過程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, 2021 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，公司注意到本新聞稿和其他前瞻性陳述(包括歷史信息以外的所有內容)涉及風險和不確定因素，這些風險和不確定因素可能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被市場接受的能力，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，延遲開發新產品並獲得FDA對這些新產品的批准，以及在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2021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。
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 | Nine Months Ended | |||||||||||||||
| December 31, 2021 | December 31, 2020 | December 31, 2021 | December 31, 2020 | |||||||||||||
Product revenue |
$ | 1,734 | $ | 1,999 | $ | 5,348 | $ | 5,093 | ||||||||
Service revenue |
210 | 164 | 718 | 298 | ||||||||||||
Total revenue |
1,944 | 2,163 | 6,066 | 5,391 | ||||||||||||
Product cost of revenue |
828 | 976 | 2,729 | 2,501 | ||||||||||||
Service cost of revenue |
106 | 81 | 356 | 150 | ||||||||||||
Total cost of revenue |
934 | 1,057 | 3,085 | 2,651 | ||||||||||||
Gross profit |
1,010 | 1,106 | 2,981 | 2,740 | ||||||||||||
Operating expenses: |
||||||||||||||||
Sales and marketing |
505 | 581 | 1,595 | 1,513 | ||||||||||||
General and administrative |
327 | 373 | 994 | 999 | ||||||||||||
Research and development |
194 | 139 | 584 | 443 | ||||||||||||
Total operating expenses |
1,026 | 1,093 | 3,173 | 2,955 | ||||||||||||
Operating (loss) income |
(16 | ) | 13 | (192 | ) | (215 | ) | |||||||||
Interest expense, extinguishment of debt income and other income, net |
-- | 586 | 529 | 684 | ||||||||||||
(Loss) income before provision for income taxes |
(16 | ) | 599 | 337 | 469 | |||||||||||
Provision for income taxes |
-- | -- | -- | -- | ||||||||||||
Net (loss) income |
$ | (16 | ) | $ | 599 | $ | 337 | $ | 469 | |||||||
Net (loss) income per share-basic and diluted |
$ | 0.00 | $ | 0.05 | $ | 0.03 | $ | 0.04 | ||||||||
Weighted average number of basic shares |
11,678 | 11,583 | 11,599 | 11,583 | ||||||||||||
Weighted average number of diluted shares |
11,678 | 11,709 | 12,045 | 11,750 | ||||||||||||
| 截至三個月 | 截至9個月 | |||||||||||||||
| 2021年12月31日 | 2020年12月31日 | 2021年12月31日 | 2020年12月31日 | |||||||||||||
產品收入 |
$ | 1,734 | $ | 1,999 | $ | 5,348 | $ | 5,093 | ||||||||
服務收入 |
210 | 164 | 718 | 298 | ||||||||||||
總收入 |
1,944 | 2,163 | 6,066 | 5,391 | ||||||||||||
收入的產品成本 |
828 | 976 | 2,729 | 2,501 | ||||||||||||
收入的服務成本 |
106 | 81 | 356 | 150 | ||||||||||||
總收入成本 |
934 | 1,057 | 3,085 | 2,651 | ||||||||||||
毛利 |
1,010 | 1,106 | 2,981 | 2,740 | ||||||||||||
運營費用： |
||||||||||||||||
銷售和市場營銷 |
505 | 581 | 1,595 | 1,513 | ||||||||||||
一般事務和行政事務 |
327 | 373 | 994 | 999 | ||||||||||||
研發 |
194 | 139 | 584 | 443 | ||||||||||||
總運營費用 |
1,026 | 1,093 | 3,173 | 2,955 | ||||||||||||
營業(虧損)收入 |
(16 | ) | 13 | (192 | ) | (215 | ) | |||||||||
利息支出，清償債務收入和其他收入，淨額 |
-- | 586 | 529 | 684 | ||||||||||||
所得税撥備前收入(虧損) |
(16 | ) | 599 | 337 | 469 | |||||||||||
所得税撥備 |
-- | -- | -- | -- | ||||||||||||
淨(虧損)收入 |
$ | (16 | ) | $ | 599 | $ | 337 | $ | 469 | |||||||
每股淨(虧損)收益-基本和稀釋後收益 |
$ | 0.00 | $ | 0.05 | $ | 0.03 | $ | 0.04 | ||||||||
基本股數加權平均數 |
11,678 | 11,583 | 11,599 | 11,583 | ||||||||||||
加權平均稀釋股數 |
11,678 | 11,709 | 12,045 | 11,750 | ||||||||||||
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)
|
December 31, 2021 |
March 31, 2021 |
|||||||
ASSETS |
||||||||
Cash |
$ | 1,424 | $ | 1,474 | ||||
Accounts receivable, net |
1,029 | 1,024 | ||||||
Inventories, net |
1,406 | 1,446 | ||||||
Prepaid expenses and other assets |
149 | 154 | ||||||
Total current assets |
4,008 | 4,098 | ||||||
Equipment, net |
235 | 266 | ||||||
Right of use asset |
856 | 1,061 | ||||||
Patents, net |
189 | 213 | ||||||
Other assets |
31 | 21 | ||||||
Total assets |
$ | 5,319 | $ | 5,659 | ||||
LIABILITIES AND SHAREHOLDERS' EQUITY |
||||||||
Accounts payable |
$ | 531 | $ | 390 | ||||
Secured notes |
18 | 20 | ||||||
Accrued compensation |
238 | 182 | ||||||
Other accrued liabilities |
138 | 282 | ||||||
Accrued lease liability |
357 | 303 | ||||||
Total current liabilities |
1,282 | 1,177 | ||||||
Secured notes |
212 | 220 | ||||||
Accrued lease liability |
648 | 927 | ||||||
Unsecured promissory note |
-- | 533 | ||||||
Total liabilities |
2,142 | 2,857 | ||||||
Common stock and additional paid-in capital |
24,304 | 24,265 | ||||||
Accumulated (deficit) |
(21,127 | ) | (21,463 | ) | ||||
Total shareholders' equity |
3,177 | 2,802 | ||||||
Total liabilities and shareholders' equity |
$ | 5,319 | $ | 5,659 | ||||
|
十二月三十一日， 2021 |
三月三十一號， 2021 |
|||||||
資產 |
||||||||
現金 |
$ | 1,424 | $ | 1,474 | ||||
應收賬款淨額 |
1,029 | 1,024 | ||||||
庫存，淨額 |
1,406 | 1,446 | ||||||
預付費用和其他資產 |
149 | 154 | ||||||
流動資產總額 |
4,008 | 4,098 | ||||||
設備，網絡 |
235 | 266 | ||||||
使用權資產 |
856 | 1,061 | ||||||
專利，網絡 |
189 | 213 | ||||||
其他資產 |
31 | 21 | ||||||
總資產 |
$ | 5,319 | $ | 5,659 | ||||
負債和股東權益 |
||||||||
應付帳款 |
$ | 531 | $ | 390 | ||||
擔保票據 |
18 | 20 | ||||||
應計補償 |
238 | 182 | ||||||
其他應計負債 |
138 | 282 | ||||||
應計租賃負債 |
357 | 303 | ||||||
流動負債總額 |
1,282 | 1,177 | ||||||
擔保票據 |
212 | 220 | ||||||
應計租賃負債 |
648 | 927 | ||||||
無擔保本票 |
-- | 533 | ||||||
總負債 |
2,142 | 2,857 | ||||||
普通股和額外實收資本 |
24,304 | 24,265 | ||||||
累計(赤字) |
(21,127 | ) | (21,463 | ) | ||||
股東權益總額 |
3,177 | 2,802 | ||||||
總負債和股東權益 |
$ | 5,319 | $ | 5,659 | ||||
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)
| Nine Months Ended | ||||||||||||
|
December 31, 2021 |
December 31, 2020 |
|||||||||||
Operating activities: |
||||||||||||
Net income |
$ | 337 | $ | 469 | ||||||||
Adjustments to reconcile net income to cash (used in) provided by operating activities: |
||||||||||||
Extinguishment of debt income |
(533 | ) | (599 | ) | ||||||||
Depreciation and amortization |
86 | 68 | ||||||||||
Share-based compensation expense |
30 | 25 | ||||||||||
Other income from release of accounts payable |
-- | (56 | ) | |||||||||
(Recovery from) doubtful accounts, net |
(35 | ) | (31 | ) | ||||||||
(Recovery from) provision for inventory obsolescence, net |
(28 | ) | 24 | |||||||||
Changes in operating assets and liabilities: |
||||||||||||
Right of use asset, net |
(20 | ) | 68 | |||||||||
Accounts receivable |
30 | (130 | ) | |||||||||
Inventories |
67 | 80 | ||||||||||
Prepaid expenses and other assets |
(5 | ) | (108 | ) | ||||||||
Accounts payable |
142 | 87 | ||||||||||
Accrued compensation and other accrued liabilities |
(88 | ) | 212 | |||||||||
Net cash (used in) provided by operating activities |
(17 | ) | 109 | |||||||||
Investing activities: |
||||||||||||
Acquisition of property and equipment |
(18 | ) | (4 | ) | ||||||||
Patent costs |
(13 | ) | (16 | ) | ||||||||
Net cash (used in) investing activities |
(31 | ) | (20 | ) | ||||||||
Financing activities: |
||||||||||||
Net proceeds from options exercised |
8 | -- | ||||||||||
(Paydown of) credit facility, net change |
-- | (371 | ) | |||||||||
(Paydown of) secured notes |
(10 | ) | -- | |||||||||
EIDL loan |
-- | 152 | ||||||||||
Unsecured promissory note |
-- | 599 | ||||||||||
| (2 | ) | 380 | ||||||||||
Net (decrease) increase in cash |
(50 | ) | 469 | |||||||||
Cash, beginning of period |
1,474 | 385 | ||||||||||
Cash, end of period |
$ | 1,424 | $ | 854 | ||||||||
| 截至9個月 | ||||||||||||
|
十二月三十一日， 2021 |
十二月三十一日， 2020 |
|||||||||||
經營活動： |
||||||||||||
淨收入 |
$ | 337 | $ | 469 | ||||||||
將淨收入與經營活動提供的現金(用於)進行調整： |
||||||||||||
債務收入的清償 |
(533 | ) | (599 | ) | ||||||||
折舊及攤銷 |
86 | 68 | ||||||||||
基於股份的薪酬費用 |
30 | 25 | ||||||||||
釋放應付帳款的其他收入 |
-- | (56 | ) | |||||||||
(從)壞賬中收回(淨額) |
(35 | ) | (31 | ) | ||||||||
庫存報廢準備金淨額(回收) |
(28 | ) | 24 | |||||||||
營業資產和負債變動情況： |
||||||||||||
使用權資產淨額 |
(20 | ) | 68 | |||||||||
應收賬款 |
30 | (130 | ) | |||||||||
盤存 |
67 | 80 | ||||||||||
預付費用和其他資產 |
(5 | ) | (108 | ) | ||||||||
應付帳款 |
142 | 87 | ||||||||||
應計補償和其他應計負債 |
(88 | ) | 212 | |||||||||
經營活動提供的現金淨額(用於) |
(17 | ) | 109 | |||||||||
投資活動： |
||||||||||||
購置財產和設備 |
(18 | ) | (4 | ) | ||||||||
專利費 |
(13 | ) | (16 | ) | ||||||||
淨現金(用於)投資活動 |
(31 | ) | (20 | ) | ||||||||
融資活動： |
||||||||||||
行使期權的淨收益 |
8 | -- | ||||||||||
(償還)信貸安排，淨變化 |
-- | (371 | ) | |||||||||
(償還)擔保票據 |
(10 | ) | -- | |||||||||
EIDL貸款 |
-- | 152 | ||||||||||
無擔保本票 |
-- | 599 | ||||||||||
| (2 | ) | 380 | ||||||||||
現金淨(減)增 |
(50 | ) | 469 | |||||||||
期初現金 |
1,474 | 385 | ||||||||||
期末現金 |
$ | 1,424 | $ | 854 | ||||||||
CONTACT:
聯繫方式：
Mala Ray
Encision Inc.
303-444-2600
mray@encision.com
瑪拉·雷
Encision Inc.
303-444-2600
郵箱：mray@encision.com
SOURCE: Encision Inc.
資料來源：Encision Inc.