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Last $0.67 USD
Change Today -0.011 / -1.62%
Volume 95.3K
As of 8:10 PM 05/29/15 All times are local (Market data is delayed by at least 15 minutes).

implant sciences corp (IMSC) Key Developments

Implant Sciences Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 31, 2015

Implant Sciences Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2015. For the third quarter, the company reported revenues of $3,305,000 against $2,708,000 a year ago. The increase in revenue is due primarily to a 182.6% increase in the number of QS-B220 desktop units sold in the three months ended March 31, 2015, due to increased shipments to European, Latin American and U.S. air cargo screening facilities in the current three month period, offset partially by a 4.0% decrease in the average unit sales prices, which resulted in a 171.4% increase in QS-B220 revenues. The increased revenues achieved on sales of the QS-B220 were partially offset by a 40.9% decrease in the number of QS-H150 handheld units sold in the three months ended March 31, 2015, compared to the prior period, due to decreased shipments to Mexico, which is partially offset by a 5.6% increase in the average unit sales prices, which resulted in a 37.6% decrease in QS-H150 revenues.  Sales of parts and supplies decreased 1.3% in the three months ended March 31, 2015. Sales of QS-B220 were favorably impacted in the comparable prior period due to the acceptance of the QS-B220 into the qualified section of the TSA's Air Cargo Screening Technology List and achieving ECAC's Common Evaluation Process of Security Equipment for airport checkpoint screening of passengers and baggage. Loss from operations was $3,489,000 against $3,218,000 a year ago. Net loss was $5,731,000 against $4,939,000 a year ago. The increase in the net loss is primarily due to increased operating expenses and an increase in interest expense. Net loss per share, basic and diluted was $0.08 against $0.08 a year ago. Adjusted LBITDA was $2,266,000 against $2,299,000 a year ago. For the nine months, the company reported revenues of $7,315,000 against $7,023,000 a year ago. The increase in revenue is due primarily to a 23.3% increase in the number of QS-B220 desktop units sold in the nine months ended March 31, 2015, due to increased shipments to European, Latin American and U.S. air cargo screening facilities in the current nine month period, offset partially by a 4.9% decrease in the average unit sales prices, which resulted in a 17.2% increase in QS-B220 revenue.  The increased revenues achieved on sales of the QS-B220, were partially offset by a 7.8% decrease in the number of QS-H150 handheld units sold in the nine months ended March 31, 2015, compared to the prior period, due to decreased shipments to Mexico, and a 4.5% decrease in the average unit sales prices, which resulted in an 11.8% decrease in QS-H150 revenues.  Sales of parts and supplies increased 24.7% in the nine months ended March 31, 2015. Sales of QS-B220 were favorably impacted in the comparable prior period due to the acceptance of the QS-B220 into the qualified section of the TSA's Air Cargo Screening Technology List and achieving ECAC's Common Evaluation Process of Security Equipment for airport checkpoint screening of passengers and baggage. Competitive market conditions are expected to continue to have a negative impact on average unit sales prices for the foreseeable future. Loss from operations was $10,949,000 against $10,351,000 a year ago. Net loss was $17,350,000 against $15,341,000 a year ago. The increase in the net loss is primarily due to an increase in interest expense and increased operating expenses, primarily due to costs associated with the resignation of former CEO. Net loss per share, basic and diluted was $0.25 against $0.26 a year ago. Adjusted LBITDA was $8,109,000 against $6,897,000 a year ago.

Implant Sciences Corp. to Report Q3, 2015 Results on May 14, 2015

Implant Sciences Corp. announced that they will report Q3, 2015 results at 9:05 PM, GMT Standard Time on May 14, 2015

Implant Sciences Corp., Q3 2015 Earnings Call, May 14, 2015

Implant Sciences Corp., Q3 2015 Earnings Call, May 14, 2015

Implant Sciences Corp. Announces Resignation of Directors

On April 23, 2015, each of John J. Hassett, Howard Safir and Michael C. Turmelle and, on April 25, 2015, John A. Keating, notified Implant Sciences Corporation of his refusal to stand for re-election to the Board of Directors of the company at the company's next annual meeting of shareholders. Each of these directors has notified the company that his refusal to stand for re-election is not based on any disagreement with the company.

Implant Sciences Corporation Receives Order for 75 QS-B220 Explosives Trace Detection Systems in the Netherlands

Implant Sciences Corporation reported that it has received an order for 75 QS-B220 explosives trace detection systems in the Netherlands. The systems are expected to be delivered in the company's fourth fiscal quarter and will be used for screening passengers and baggage in an airport environment. The QS-B220 uses Ion Mobility Spectrometry (IMS) to rapidly detect and identify trace amounts of a wide variety of military, commercial, and homemade explosives as well as illicit drugs. With significantly lower maintenance requirements than competing systems, the QS-B220 can be deployed for a much lower total cost of ownership than other approved products. Featuring a radioactive material-free design, push-button maintenance and diagnostics, and a patented inCal internal automatic calibration system, the QS-B220 brings new levels of performance and convenience to desktop trace detection users with unsurpassed ease of use.

 

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