bovie medical corp (BVX) Key Developments
Bovie Medical Corporation Announces Executive Changes
Jun 15 15
Bovie Medical Corporation announced that Peter L. Donato, Chief Financial Officer and Secretary of Bovie Medical Corporation, intends to resign from his service as Chief Financial Officer, Executive Vice President, Treasurer and Secretary of the Company on or about June 25, 2015. On June 15, 2015, the Board of Directors of the Company appointed Jay Ewers, currently the Controller of the Company, as the Interim Chief Financial Officer, Treasurer and Secretary of the Company effective upon Mr. Donato’s resignation. Mr. Ewers has more than 30 years of senior experience and has held financial executive positions in corporations ranging from early stage to high profile public companies with global operations in the medical equipment, manufacturing and semiconductor industries. He has extensive experience with Sarbanes Oxley, inventory management, Oracle modules and financial planning & analysis. Bovie Medical will engage an executive search firm to conduct a search for a permanent CFO.
Bovie Medical Corporation Hires Mark Charbonneau as J-Plasma Product Development Manager
May 26 15
Bovie Medical Corporation announced that it has hired Mark Charbonneau as J-Plasma Product Development Manager. Prior to joining the company, Mark was an engineering manager for Centrix and senior manufacturing engineer for Ventripoint Diagnostics. Mr. Charbonneau’s hire was effective May 18, 2015. He reports to Mr. Shawn Roman, Director of Research and Development.
Bovie Medical Corporation Announces Board Changes
May 8 15
Effective May 6, 2015, Ian Sheffield resigned from his position as a director of Bovie Medical Corporation. Mr. Sheffield's departure from the board was not the result of any disagreements with the company. Effective May 6, 2015, Charles T. Orsatti was appointed by the unanimous vote of the board of directors to the board of directors of the company to fill the vacancy created by Mr. Sheffield's departure. Mr. Orsatti was unanimously appointed to serve as vice chairman of the board of directors and shall also serve as chair of the compensation committee and member of the audit committee. Mr. Orsatti is a nominee of Great Point Partners, LLC pursuant to the terms of that certain Securities Purchase Agreement dated December 13, 2013 among the company and certain investors party thereto.
Bovie Medical Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015
May 8 15
Bovie Medical reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company's sales were $6.1 million, a 5.5% decline from the $6.5 million reported in last year’s first quarter, as higher core product and J-Plasma® sales only partly offset the anticipated reduction in OEM revenues. Gross margin expanded to 43.6% from 42.5%. The Company had GAAP income of $12.9 million, or $0.57 per diluted share. This compares to GAAP loss of $9.8 million or $0.55 per diluted share in last year’s first quarter. Loss from operations was $2,272,000 compared to income from operations of $58,000 a year ago. Loss before income taxes was $868,000 compared to $9,569,000 a year ago. Net loss was $876,000 compared to $9,607,000 a year ago. Adjusted non-GAAP net loss was $2,542,000 or $0.14 per basic share compared to $212,000 or $0.01 per basic share a year ago.
Bovie Medical Corporation Presents at JMP Securities Life Sciences Conference, Jun-24-2015 11:30 AM
May 7 15
Bovie Medical Corporation Presents at JMP Securities Life Sciences Conference, Jun-24-2015 11:30 AM. Venue: The St. Regis New York, 2 East 55th Street, New York, NY 10022, United States. Speakers: Robert L. Gershon, Chief Executive Officer and Director.