ChemTrak Inc. Reports Fourth Quarter 1994 Earnings

ChemTrak Inc. reported a fourth quarter 1994 net loss of $908,000, or 10 cents loss per share, on total revenues of $2,187,000. The company's product sales for the quarter totaled $1,917,000, a significant improvement over the 1993 fourth quarter, which saw a net loss of $2,259,000 on total revenues of $349,000. The company attributed the improved performance to the launch of its total cholesterol test into the U.S. over-the-counter market. However, ChemTrak cautioned that sales of its total cholesterol test to Advanced Care Products, its U.S. marketing partner, are expected to be substantially lower in 1995 than in 1994.

Key Takeaways:

ChemTrak Inc. reported a fourth quarter 1994 net loss of $908,000, or 10 cents loss per share, on total revenues of $2,187,000.
The company's product sales for the quarter totaled $1,917,000, an improvement over the 1993 fourth quarter.
The company launched its total cholesterol test into the U.S. over-the-counter market, significantly boosting sales.
Sales of ChemTrak's total cholesterol test to Advanced Care Products, its U.S. marketing partner, are expected to be substantially lower in 1995 than in 1994.
The company's net loss for 1994 was $1,065,000, or 12 cents loss per share, compared with a net loss for 1993 of $9,240,000, or $1.01 loss per share.
ChemTrak's total revenues for 1994 of $10,320,000 were more than twice 1993 total revenues.
The company's Full-year 1994 product sales totaled $7,780,000, nearly three times 1993 product sales.

Statistics:

Net loss for fourth quarter 1994: $908,000
Net loss per share for fourth quarter 1994: 10 cents
Total revenues for fourth quarter 1994: $2,187,000
Product sales for fourth quarter 1994: $1,917,000
Net loss for 1994: $1,065,000
Net loss per share for 1994: 12 cents
Total revenues for 1994: $10,320,000
Product sales for 1994: $7,780,000

Sources:

Business Wire (Jan. 23, 1995)
ChemTrak Inc. NASDAQ:CMTR