Medifocus Inc. Announces Record 294% Increase in Q2/FY 2014 Revenue
04 Dezembro 2013 - 12:20PM
Marketwired
Medifocus Inc. Announces Record 294% Increase in Q2/FY 2014 Revenue
Revenue for the First Six Months in FY 2014 Reaches CN$2.55M, a
40% Increase Over Total Revenue in FY 2013
TORONTO, ON--(Marketwired - Dec 4, 2013) - Medifocus, Inc.
(OTCQX: MDFZF), (TSX-VENTURE: MFS) (Medifocus or the Company), a
leader in the use of focused microwave energy to treat cancer and
other tumors, is pleased to announce its financial results for the
three and six month periods of fiscal 2014 ending September 30,
2013.
Revenue for the second quarter of fiscal 2014 ending September
30, 2013 was CN$1.23M compared to revenue of CN$313,281 in the
second quarter of fiscal 2013, representing a 294%
increase. Revenue for the six months ending September 30, 2013
reached a record CN$2.55M, representing a 40% increase over total
revenue in fiscal year 2013 of CN$1.81M. The revenue increase for
both periods reflects the continued successful rollout and strong
market acceptance of the Company's Prolieve® Thermodilatation
System for treatment of Benign Prostatic Hyperplasia (BPH).
The Company has maintained a gross margin of 66%, excluding the
amortization expense. The net loss for the second quarter of fiscal
2014, was (CN$1.47M), or (CN$0.013 per share) and for the first six
months was (CN$2.70M), or (CN$0.023 per share). The net loss
for both time periods is primarily due to the significant resources
the Company has expended in rolling out the Prolieve® system and
the increase in general and administrative expenses following the
acquisition and commercialization of the Prolieve® systems by the
Company. The net loss for the second quarter of fiscal 2013
was (CN$1.02M), or (CN$0.014 per share), and for the six months was
(CN$1.43M), or (CN$0.019) per share. These reporting periods in
fiscal 2013 reflect only two months of Prolieve®
operations.
Since acquiring the Prolieve® business, the Company has
increased its market penetration from 60 accounts in July 2012 to
about 200 accounts in September 2013. (See the attached chart
showing the growth of the Prolieve® system in terms of users).
Dr. Augustine Y. Cheung, President and CEO of Medifocus,
commented, "Since acquiring Prolieve® in July of 2012, we have
invested significantly in our sales force and
infrastructure. In a little over a year, we have expanded our
operations and streamlined our infrastructure, while successfully
demonstrating the value of the Prolieve® system. We are
pleased with our growth in both revenue and new account acquisition
to date as they continue to reveal the growth opportunity for our
thermotherapy treatments and we look forward to continued sales
growth in the remainder of fiscal 2014."
About Medifocus, Inc.
Medifocus is a leader in the use of focused microwave energy to
treat cancer and other tumors. It owns two fully developed
technology platforms with comprehensive US and international patent
protection: (1) The Endo-thermotherapy Platform-a catheter-basis
focused heat technology platform that utilizes natural body
openings to deliver precise microwave thermotherapy to the diseased
sites. The U.S. FDA approved Prolieve Thermodilatation System for
the treatment of Benign Prostatic Hyperplasia ("BPH") was developed
based on the Endo-thermotherapy and is currently generating
revenue, and (2) The Adaptive Phased Array (APA) Microwave Focusing
Platform-invented by MIT, licensed to Medifocus, directs precisely
focused microwave energy at tumor center to induce shrinkage or
eradication of tumors without undue harm to surrounding tissue. The
Company's APA 1000 Breast Cancer Treatment System, developed from
the APA technology platform has received approval from the U.S. FDA
and Health Canada to conduct the pivotal Phase III clinical trials.
The Company believes that these two technology platforms can
provide the design basis for the development of multiple cancer
treatment systems for surface, subsurface and deep seated localized
and regional cancers. Please visit www.medifocusinc.com,
www.prolieve.com and
http://www.facebook.com/pages/Medifocus-Inc-Company-Page/546315028715627
for more details.
Forward-Looking Statements
This news release contains "forward-looking statements" and
"forward-looking information", which may not be based on historical
facts. Forward-looking statements and forward-looking information,
include, but are not limited to, information and statements with
respect to the benefit to Medifocus' future growth resulting from
the acquisition of additional intellectual property rights,
additional treatment possibilities and the expectation that sales
from Prolieve® may accelerate as a
consequence. Forward-looking statements are frequently
characterized by words such as "plan," "expect," "project,"
"intend," "believe," "anticipate", "estimate" and other similar
words, or statements that certain events or conditions "may" or
"will" occur. Forward-looking statements are based on the
opinions and estimates of management at the date the statements are
made. Such forward-looking statements and forward-looking
information involve known and unknown risks, uncertainties and
other factors that may cause the actual results events or
developments to be materially different from any future results,
events or developments expressed or implied by such forward-looking
statements or forward-looking information. These factors should be
considered carefully and readers are cautioned not to place undue
reliance on such forward-looking statements and forward-looking
information. Except as required by applicable securities laws, the
Company disclaims any obligation to update any such factors or to
publicly announce the results of any revisions to any of the
forward-looking statements or forward-looking information contained
herein to reflect future results, events or developments.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Company Contact: John Mon COO Medifocus, Inc. Tel: 410-290-5734
JohnMon@medifocusinc.com Investor Relations Contact: Robert
Giordano Consulting for Strategic Growth 1 T: 917-327-3938
rgiordanonyc@gmail.com