Human Pheromone Sciences Announces Quarterly and Full Year Results
31 March 2005 - 8:23AM
PR Newswire (US)
Human Pheromone Sciences Announces Quarterly and Full Year Results
(Continuing operations revenue grows and loss declines) SAN JOSE,
Calif., March 30 /PRNewswire-FirstCall/ -- Human Pheromone
Sciences, Inc. (OTC:EROX) (BULLETIN BOARD: EROX) ("HPS" or "the
Company") today announced results for the three months and the year
ended December 31, 2004. For the three months ended December 31,
2004, net sales from on-going operations were $432,000,
representing a 208% increase from sales of $140,000 in the prior
year period, and resulted in a loss from on-going operations of
$76,000 ($.02 per share) as compared with a loss from on-going
operations of $171,000 ($.04 per share) for the same period of
2003, a 56% improvement. For the full year, net sales from on-going
operations of $1,140,000, represented a 76% increase from the sales
of $646,000 in the prior year period, and resulted in a loss from
continuing operations of $570,000 ($.14 per share) as compared with
a loss from continuing operations of $577,000 ($.15 per share) for
the same period of 2003. "The growth in revenues for both the
quarter and the full year from the 2003 periods reflects
significant increases in sales of our mood enhancing compounds to
current licensees in both periods and the addition of the Natural
Attraction from Demeter Fragrance Library product line sales that
were launched in April 2004. In both periods, research and
development costs increased due to the funding of studies on
several new naturally-occurring compounds that the Company believes
may be incorporated in future products. The increase in selling,
marketing and administrative costs were primarily associated with
the launch of the Natural Attraction from Demeter line as well as
new initiatives implemented to enhance shareholder value," a
Company spokesperson indicated. Human Pheromone Sciences, Inc. is a
technology-based company, whose proof- of concept products included
prestige-priced fragrances and toiletries and environmental
products sold under the Natural Attraction(R), REALM(R),
innerREALM(R) and EROX(R) trademarks. These products contain mood-
enhancing synthesized human pheromones covered under U.S. and
foreign patents. The Company also licenses its proprietary
technology to other companies for inclusion in their products for
direct sale to the consumer. Scientific and consumer studies have
shown that the Company's human pheromones positively impact on the
moods, attitudes and emotions of wearers. Further information is
available on line at http://www.erox.com/. The statements in this
news release may contain forward-looking statements that involve
risks and uncertainties that could cause results to differ from
predicted results. Further information on factors that could affect
the Company's results is detailed in the Company's annual report to
shareholders on Form 10-KSB for the year ended December 31, 2004 as
filed with the Securities and Exchange Commission. The Company
undertakes no obligation to publicly release the result of any
revisions to these forward-looking statements. HUMAN PHEROMONE
SCIENCES, INC. Condensed Balance Sheets (Dollars in thousands)
December 31, December 31, 2004 2003 Assets Cash and cash
equivalents $1,201 $1,950 Accounts receivable, net 259 38
Inventories 63 52 Other current assets 8 19 Property and equipment,
net 17 9 Total $1,548 $2,068 Liabilities, convertible redeemable
preferred stock and shareholders' equity Accounts payable $41 $23
Other current liabilities 154 150 Convertible redeemable preferred
stock -- 150 Common stock 20,809 20,659 Accumulated deficit
(19,456) (18,914) Total $1,548 $2,068 HUMAN PHEROMONE SCIENCES,
INC. Condensed Statements of Operations (Dollars in thousands,
except per-share data) Three months ended Year ended December 31,
December 31, 2004 2003 2004 2003 Net sales and revenues $432 $140
$1,140 $646 Cost of goods sold 98 20 215 177 Research and
development 50 10 93 28 Selling, general and administrative 366 256
1,419 1,059 (Loss) from operations (82) (146) (587) (618) Other
income 6 (46) 17 (14) Tax benefit from ongoing operations -- 21 --
55 (Loss) from continuing operations (76) (171) (570) (577) Net
income (loss) from operations sold -- (5) -- 74 Net gain (loss) on
sale of assets 6 (48) 28 1,170 Net income (loss) $(70) $(224)
$(542) $667 Basic earnings (loss) per share: From on-going
operations $(0.02) $(0.04) $(0.14) $(0.15) From disposed operations
$(0.00) $0.00 $0.00 $0.02 From assets sold $(0.00) $(0.02) $0.01
$0.31 Net income (loss) $(0.02) $(0.06) $(0.13) $0.18 Diluted
earnings (loss) per share: From on-going operations $(0.02) $(0.04)
$(0.14) $(0.13) From disposed operations $(0.00) $0.00 $0.00 $0.02
From assets sold $0.00 $0.02 $0.01 $0.26 Net income (loss) $(0.02)
$(0.06) $(0.15) $0.15 Weighted average number of shares outstanding
- Basic 4,152 4,058 4,129 3,803 Weighted average number of shares
outstanding - Assuming dilution 4,152 4,058 4,129 4,588 Net income
(loss) per share is based on the weighted average number of common
shares and common equivalents outstanding during each period.
Certain common stock equivalents are excluded when their effect
would be anti-dilutive. DATASOURCE: Human Pheromone Sciences, Inc.
CONTACT: William P. Horgan, Chairman, CEO of Human Pheromone
Sciences, Inc., +1-408-938-3030 Web site: http://www.erox.com/
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