Cytori (CYTX) Q4/11 and FY11 Financial Results
Net loss for Q4/11 was $6.9M or ($0.12) per share, compared to $9.3M or ($0.18) per share, in Q4/10.
For Q4/11, product revenues were $2.076M versus $2.378M in Q4/10 and cost of revenues were $944K versus Q4/10’s of $1.175M leaving a gross profit of $1.132M for Q4/11 versus $1.20M in Q4/10. Development and grant revenues were $762M versus $158K in Q4/10. R&D expenses were $1.956M versus $2.661M in Q4/10 while G&A expenses were $3.498M versus $3.24 in Q4/10. Sales and marketing expenses were $3m versus $3.68M in Q4/10. Change in the fair value of warrants was ($646K) and fair value was $60K. Total operating expenses were $7.868M, compared with $10M in Q4/10. The net loss was $6.9M versus $9.253M in Q4/10. Basic and diluted shares used in computing net loss were 55.66M versus 50.207M in Q4/10.
FY11 Results: Product revenues were $7.98M compared to $8.25M in FY10. Gross profit on product sales was $4.1M in 2011 compared to $4M in 2010. Total operating expenses were $35.6M in 2011, compared to $32M in 2010. Net loss was $32.5M or ($0.61) per share, in FY11 compared to $27.5M or ($0.60) per share, for 2010.
- Cytori had $36.9M in cash and cash equivalents, $2.3M in accounts receivable, net of reserves, and added $4M of additional cash subsequent to the end of the year from sales of common stock and option exercises.