Oculus Innovative Sciences, Inc. (OCLS) & Powerwave Technologies, Inc. (PWAV) today announced financial results for the last quarter. These financial achievements should have a positive impact on both stocks even with current stock market conditions.
Oculus Innovative Sciences Reports Record First Quarter Financial Results
PETALUMA, Calif. , Aug. 4, 2011 (GLOBE NEWSWIRE) — Oculus Innovative Sciences, Inc. (Nasdaq:OCLS) today announced financial results for the first quarter of fiscal year 2012, ended June 30, 2011 . Total revenue was $2.9 million in the quarter, compared to $2.3 million in the first quarter of fiscal year 2011. Product revenue was $2.7 million , up 33%, from $2.0 million in the prior year’s first quarter with revenue increases in the United States , Mexico , Europe , India and Singapore , partially offset by a decline in the Middle East and China.
“We believe the combination of the planned increase in animal healthcare royalties to approximately 30 percent, effective July 1 , and the continued sales ramp in these animal healthcare products, will generate larger revenue growth for Oculus in fiscal year 2012,” said Hoji Alimi , founder and CEO of Oculus. “At the same time, we look forward to the launch of Microcyn-based prescription products in the dermatology and podiatry markets during the year by our U.S. partners, which will present robust revenue opportunities that further support our growth.”[…]
Oculus Innovative Sciences, Inc.
1129 North Mcdowell Boulevard
Petaluma, CA 94954
Oculus Innovative Sciences is a commercial healthcare company that designs, produces and markets safe and effective tissue care products based upon the Microcyn® Technology platform, which significantly reduces the need for antibiotics while reducing infections and accelerating healing. The Microcyn Technology addresses the need for improved solutions in multiple markets including dermatology, oral care, cosmeceutical, wound care and others. It features a biocompatible, shelf-stable solution that is currently commercialized in the United States, Europe, India, China and Mexico and select Middle East countries under various country specific regulatory clearances and approvals.
Powerwave Technologies Reports Second Quarter Results
SANTA ANA, Calif. –(BUSINESS WIRE)– Powerwave Technologies, Inc. (Nasdaq:PWAV), a global supplier of end-to-end wireless solutions for wireless communications networks, today reported preliminary results for its second quarter ended July 3, 2011 .
Net sales in the second quarter of fiscal 2011 were $170.6 million , compared with $144.6 million in the second quarter of fiscal 2010. Powerwave also reported second quarter GAAP net income of $7.0 million , which includes $1.9 million of non-cash equity based compensation expense and $0.7 million of non-cash debt discount amortization associated with certain outstanding debt. For the second quarter of 2011, the net income equates to basic and diluted earnings per share of 4 cents . This compares with net income of $0.2 million , or basic and diluted earnings per share of 0 cents in the prior year period. For the second quarter of fiscal 2011, excluding the debt discount amortization and the non-cash equity based compensation expenses, on a pro forma basis, Powerwave would have reported net income of $9.2 million , or basic and diluted earnings per share of 5 cents .
For the first six months of fiscal 2011, total revenue was $307.3 million compared with $259.1 million for the first six months of fiscal 2010. Powerwave reported total net income for the first six months of 2011 of $0.1 million , or basic and diluted earnings per share of 0 cents , compared with a net loss of $10.6 million , or a basic loss per share of 8 cents for the first six months of fiscal 2010. The results for the first six months of 2011 include a total of $3.9 million of non-cash equity based compensation expenses and $1.4 million of non-cash debt discount amortization, and the results for the first six months of 2010 included $1.3 million of restructuring and impairment charges, $1.7 million of non-cash equity based compensation expenses and $1.6 million of non-cash debt discount amortization net of a gain on the exchange of outstanding long-term debt.[…]
Powerwave Technologies, Inc.
1801 East St. Andrew Place
Santa Ana, CA 92705 USA
Tel: +1 714-466-1000
Fax: +1 714-466-5800
Powerwave Technologies, Inc. (NASDAQ: PWAV) is a global leader in end-to-end wireless coverage and capacity solutions for wireless communications networks. Offering cutting edge wireless infrastructure to address the demands of enterprise and commercial customers, Powerwave offers a comprehensive suite of solutions, including Antennas, Base Station Solutions and Coverage Solutions. Powerwave’s product line supports all wireless network protocols and frequencies including Next Generation Networks in 4G technology such as WiMAX and LTE. Powerwave solutions, products and services also help wireless operators and OEMs reduce capital and operating expenses, speed rollout of services, improve coverage and capacity, and reduce environmental impact.