Medis El Ltd. Reports Financial Results for Q1 1995

Strategic Insights

May 14, 1995 — 1 min read

Medis El Ltd., a developer and manufacturer of diagnostic systems, including the CellScan System and Neuritor, has announced its financial results for the first quarter ended March 31, 1995. The Company reported sales of $13,000, compared to no sales during the same period in 1994. Research and development costs, net of government grants, were $178,000 for the quarter, while selling, general and administrative expenses decreased by 13% to $422,000. The Company sustained an operating loss of $593,000 and a net loss of $522,000 for the period.

Key Takeaways:

Medis El Ltd. reported sales of $13,000 for Q1 1995, a significant increase from $0 in Q1 1994.
Research and development costs, net of government grants, were $178,000 for Q1 1995, a decrease from $136,000 in Q1 1994.
Selling, general and administrative expenses decreased by 13% to $422,000 in Q1 1995 compared to $487,000 in Q1 1994.
The Company received two orders for CellScan Systems, one from the Rebecca Sieff Medical Center and the other from Bar Ilan University.
The CellScan System is a diagnostic system designed for detecting diseases through blood tests and is being used for basic research in cell biology and cancer detection.
Medis El Ltd. is seeking to develop new applications for the CellScan System, including AIDS detection, follow-up therapy, and preventive therapy.

Statistics:

Sales: $13,000 (Q1 1995) vs. $0 (Q1 1994)
Research and development costs: $178,000 (Q1 1995) vs. $136,000 (Q1 1994)
Selling, general and administrative expenses: $422,000 (Q1 1995) vs. $487,000 (Q1 1994)
Operating loss: $593,000 (Q1 1995) vs. $623,000 (Q1 1994)
Net loss: $522,000 (Q1 1995) vs. $574,000 (Q1 1994)

Sources:

Press Release: Medis El Ltd. reports Financial Results for Q1 1995
Business Wire: Medis El Ltd. Issues Financial Results for Q1 1995 (May 15, 1995)
Impac Communications Ltd., Tel: 972-3-6996297, Fax: 972-3-6996273, Email: impactco@elronet.co.il

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