Theralase Releases Financial Results for Second Quarter 2013
30 Août 2013 - 12:59PM
Access Wire
Toronto, Ontario - August, 30, 2013
Theralase Technologies Inc.
(TSXV: TLT) released its second quarter 2013
financial results today, demonstrating an increase in profitability
by 27% year over year, while successfully advancing its patented
therapeutic laser and cancer destruction technologies.
Total revenue for the
six months ended June 30, 2013 decreased to $852,196 from
$1,118,896 for the same period in 2012, a 24% decrease.
The net loss
for six month period ended June 30,
2013 was $411,079, which included $106,361 of
net non-cash expenses compared to a net loss in 2012 of $652,568,
which included $162,078 of net non-cash expenses, demonstrating an
improvement of 37% year over year.
The net loss is a
reflection of the ongoing commitment of Theralase to invest in the
next level of therapeutic laser and cancer destruction
technologies, from existing therapeutic laser sales.
Selling expenses
decreased by 30% to $237,221 from $336,916 for the same period in
2012. The percentage decrease was due to reduced spending on
salaries on sales personnel and a reduction in marketing
costs.
Administrative
expenses decreased by 17% to $510,944 from $614,906 for the same
period in 2012. The decrease in administrative expenditures is due
to reductions in administrative personnel compensation, stock based
compensation and rent.
Research
and development costs decreased to $272,014 from $490,263 for the same period in 2012. This represents a 45%
decrease in expenditures, due to the approaching completion of
research and development costs of the patented TLC-2000 therapeutic
laser technology.
"Theralase is
preparing for the launch of its next generation patented TLC-2000
biofeedback therapeutic laser technology in 1Q2014 that will
revolutionize the therapeutic laser industry" stated Roger
Dumoulin-White, President and CEO of Theralase. "In addition our
cancer technology has evolved past the proof of concept stage and
is now being readied for investigation in the destruction of
bladder cancer in humans in 2014.
About
Theralase Technologies Inc.
Theralase
Technologies Inc. designs, manufactures and markets patented,
superpulsed laser technology used in healing injured tissue and
destroying cancer. Theralase technology is safe and effective in
eliminating pain, reducing inflammation and accelerating tissue
regeneration of numerous nerve, muscle and joint injuries.
Theralase is actively developing patented technology that is able
to target and destroy cancers, bacteria and viruses when light
activated.
The complete interim
consolidated financial statements and MD&A for six-month period
ending June 30, 2013 may be viewed at www.theralase.com and
www.sedar.com .
This press release
contains forward-looking statements, which reflect the Company's
current expectations regarding future events. The forward-looking
statements involve risks and uncertainties. Actual results could
differ materially from those projected herein. The Company
disclaims any obligation to update these forward-looking
statements.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchanges) accepts responsibility for
the adequacy or accuracy of this release.
For More Information, please
contact:
Roger Dumoulin - White,
President & CEO
416-699-LASE (5273) ext. 225
rwhite@theralase.com
Kristina Hachey
Chief Financial Officer
416-699-LASE (5273) ext. 224
khachey@theralase.com
Arkady Mandel
Chief Scientific Officer
416-699-LASE (5273) ext. 260
amandel@theralase.com
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