Target Therapeutics Reports 36% Increase in Revenues for Nine Months

Strategic Insights -

Target Therapeutics, Inc., a medical device company, announced its financial results for the third quarter of fiscal 1995. The company reported a 33% increase in revenues to $12,479,000 in the third quarter of fiscal 1995 compared to $9,356,000 in the third quarter of fiscal 1994. The revenue growth was driven by the company's international sales, including regulatory approvals in Japan, France, and Canada for various products.

Key Takeaways:

  • Target Therapeutics reported a 33% increase in revenues to $12,479,000 in the third quarter of fiscal 1995 compared to $9,356,000 in the third quarter of fiscal 1994.
  • The company's international sales contributed to the revenue growth, with regulatory approvals in Japan, France, and Canada for various products.
  • The new German subsidiary acquired by the company in October contributed positively to the revenue growth.
  • Net income for the quarter was $1,898,000, or $0.26 per share, compared with $1,561,000, or $0.22 per share, in the third quarter of the prior year.
  • Income from operations increased to $2,272,000 in the current quarter from $1,935,000 a year ago.
  • Revenues for the nine months ended December 31, 1994 were $34,497,000, up 36% from $25,453,000 in the comparable prior-year period.
  • Net income for the current nine-month period was $5,257,000, or $0.73 per share, compared with $3,241,000, or $0.46 per share, for the same period a year ago.

Statistics:

  • Revenue growth for the third quarter of fiscal 1995: $12,479,000 (up 33% from $9,356,000 in the third quarter of fiscal 1994)
  • Net income for the quarter: $1,898,000 (or $0.26 per share)
  • Income from operations for the quarter: $2,272,000
  • Revenue growth for the nine months ended December 31, 1994: $34,497,000 (up 36% from $25,453,000 in the comparable prior-year period)
  • Net income for the nine-month period: $5,257,000 (or $0.73 per share)

Sources:

  • PR Newswire, "Target Therapeutics, Inc. Reports 36 Percent Increase in Revenues for Nine Months Ended December 31, 1994," January 31, 1995
  • Target Therapeutics, Inc., press release, January 31, 1995