Radiopharmaceutical probe developer Neoprobe of Dublin, OH, eked out a net profit for its 2001 financial results (end-December 31). The company’s net results would have been better were it not for a one-time charge related to its acquisition of Biosonix.
For the year, Neoprobe reported sales of $7.6 million, a drop of 22% compared with $9.7 million the year before. Neoprobe said sales were affected by a one-time reduction in the contractual transfer price formula for products sold to the company’s primary distribution partner, as well as by declines in shipment volumes to the partner.
The company’s expense-control efforts helped keep its financial results in the black, however. Without the Biosonix charge, which totaled $885,000, Neoprobe would have reported net income of $900,000, compared with a net profit of $1.8 million in 2000. With the Biosonix charge, Neoprobe reported net income of $15,000.
Neoprobe completed its acquisition of Biosonix in December 2001. Biosonix develops blood-flow measurement products.
By AuntMinnie.com staff writersFebruary 25, 2002
Related Reading
Neoprobe closes Biosonix purchase, January 4, 2002
Neoprobe moves closer to Biosonix purchase, December 11, 2001
Neoprobe revenue drops in third quarter, November 5, 2001
Biosonix gets CE mark for FlowGuard, October 4, 2001
Neoprobe to buy Biosonix, September 7, 2001
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