Oculus Innovative Sciences, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Fiscal Year Ended March 31, 2016; Provides Earnings Guidance for the Quarter Ending June 2016
June 16, 2016 at 04:30 pm EDT
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Oculus Innovative Sciences, Inc. announced unaudited consolidated earnings results for the fourth quarter and fiscal year ended March 31, 2016. For the year, the company reported total revenues of $15.084 million increased by $1.2 million, or 9%, for the fiscal year ended March 31, 2016, as compared to $13.854 million for the twelve months ended March 31, 2015. Product revenue of $13.0 million increased $3.1 million, or 31%, when compared to the same period in 2015. This increase was the result of strong product revenue growth in the United States of $2.4 million, or 121%, and Europe and rest of world of $798,000, or 27%, partially offset by a 2% decrease in Latin America due in large part to the decline in the value of the peso against the USD. Loss from operations was $10.152 million against $6.659 million a year ago. Net loss was $10.162 million or $0.62 per basic and diluted share against $8.203 million or $0.85 per basic and diluted share a year ago. Non-GAAP loss from operations minus non-cash expenses (LBITDAS) was $7.885 million against $4.635 million a year ago. Non-GAAP net loss minus non-cash expenses was $7.906 million against $4.693 million a year ago.
For the quarter, the company's total revenue was $3.530 million for the fourth quarter, a decrease of 11%, when compared to $3.980 million for the same period in 2015, due mostly to a decline in royalty and licensing fees. Product revenues were flat when compared to the same period last year, with an increase in U.S. revenue due to strong growth in dermatology sales, offset by a decrease in revenue from Latin America due to the decline in the peso, a very robust sales quarter last year in Mexico and a warehouse consolidation by the company's distributor. Loss from operations was $2.859 million against $1.652 million a year ago. Net loss for the quarter ended March 31, 2016, was $2.910 million or $0.16 per basic and diluted share, an increase of $1.4 million, as compared to net loss of $1.502 million or $0.11 per basic and diluted share for the same period in the prior year. Non-GAAP loss from operations minus non-cash expenses (LBITDAS) was $2.423 million against $1.174 million a year ago. Non-GAAP net loss minus non-cash expenses was $2.475 million against $1.190 million a year ago.
For the June quarter, the company expects total revenue to be in the $4 million range with U.S. revenue growth of 50% plus, led by growth in the dermatology segment.
Sonoma Pharmaceuticals, Inc. is a global healthcare company, which is engaged in developing and producing stabilized hypochlorous acid (HOCl), products for a range of applications, including wound care, eye care, oral care, dermatological conditions, podiatry, animal health care and non-toxic disinfectants. The Company's product offerings include Lumacyn Clarifying Mist; Regenacyn Advanced Scar Gel; Reliefacyn Advanced Itch-Burn-Rash-Pain Relief Hydrogel; Microcyn OTC Advanced Wound & Skin Cleanser; Podiacyn Advanced Everyday Foot Care, MicrocynAH and others. Lumacyn Clarifying Mist is intended for use as a daily skin toner, to soothe and cleanse the skin, reduce redness, and manage blemishes by reducing infection. Podiacyn is intended for management of foot odors, infections, and irritations, as well as daily foot health and hygiene. MicrocynAH is an HOCl-based topical product that cleans, debrides and treats a range of animal wounds and infections.
Oculus Innovative Sciences, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Fiscal Year Ended March 31, 2016; Provides Earnings Guidance for the Quarter Ending June 2016