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Friday, April 29, 2005

 

Penny Stocks NEOP Neoprobe Announces First Quarter Results; First Quarter Device Sales Increase 20% Over Prior Year; Business Update

NEOP Neoprobe Announces First Quarter Results; First Quarter Device Sales Increase 20% Over Prior Year; Business Update Provided and Conference Call Scheduled: "NEOP Neoprobe Announces First Quarter Results; First Quarter Device Sales Increase 20% Over Prior Year; Business Update Provided and Conference Call Scheduled

DUBLIN, Ohio--(BUSINESS WIRE)--April 28, 2005--Neoprobe Corporation (OTCBB:NEOP), a diversified developer of innovative oncology and cardiovascular surgical and diagnostic products, today announced consolidated operating results for the first quarter of 2005. First quarter results included net sales of devices of $1.5 million compared to $1.2 million for the first quarter of 2004. In addition, Neoprobe reported a net loss of $1 million or $0.02 per share compared to a loss of $589,000 or $0.01 per share for the comparable period in 2004. The net loss for the first quarter of 2005 included $453,000 in non-cash charges consisting primarily of interest and other charges related to the financing that was completed in December 2004 compared to total non-cash charges of $205,000 for the first quarter of 2004.


Brent Larson, Neoprobe's Vice President, Finance & CFO, said, 'Our first quarter device sales improved compared to the prior year due primarily to a slight strengthening in gamma device prices and increased extended service contract sales activity through our primary gamma device marketing partner. The improvement in sales prices and increased extended service contract sales, coupled with the impact of design improvements to our neo2000(R) gamma device line completed in early 2004, contributed to an overall increase in gross margins on device sales to 62% of net sales compared to 56% of net sales in the prior year.'
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