Exhibit 99.1
Slide 1
Annual Meeting of the Shareholders, December 17, 2013
Our Company Moves Onward and Upward
Slide 2
Agenda
· Chairman’s Report
· Where we are today
· Last twelve months at a glance
· Summary Statement of Operations
· Summary Balance Sheets
· Fiscal 2014 Objectives
· How do we accomplish this?
· Close of the meeting
Slide 3
Annual Report to the Shareholders
Stephen P. Gouze
Chairman of the Board
Slide 4
Where we are today
· Just completed record Fiscal Year performance
· Demonstrating quarterly consistency in positive financial performance
· AtherOx technology moving to commercialization
· Expanding our presence in China
· Contract Services sector becoming more meaningful and more profitable
· Focus on more profitable products and increased efficiencies making a difference in gross margins
· Operating leaner
· Prepared for continued growth and improvements in profitability
Slide 5
Last twelve months at a Glance
· Established collaboration with Eli Lilly; developed first Companion Diagnostics products and launched it one week ago
· Secured approval of AspirinWorks ELISA product in China and launched
· Opened negotiations for additional collaboration in China
· Submitted 510(k) applications for Hyaluronic Acid ELISA product using data developed in collaboration with NIH
· Filed first 510(k) application on automated Thromboxane (AspirinWorks) product developed with Randox and ELITech
· Moved AtherOx technology to commercialization
· Advanced penetration of automated system market with SkyLAB sales
Slide 6
Summary Statements of Operations ($000)
| | 3-mo ended
9/30/13
Unaudited | | 3-mo ended
9/30/12
Unaudited | | FY ended
6/30/13
Audited | | FY ended
6/30/12
Audited | |
Sales | | $ | 2,878 | | $ | 2,821 | | $ | 10,188 | | $ | 9,289 | |
Gross Profit | | $ | 1,331 | | $ | 1,202 | | $ | 4,564 | | $ | 3,934 | |
Op Exp | | $ | 1,229 | | $ | 997 | | $ | 4,267 | | $ | 4,421 | |
Op Inc (Loss) | | $ | 107 | | $ | 205 | | $ | 297 | | $ | (486 | ) |
Net Inc (Loss) | | $ | 84 | | $ | 198 | | $ | 279 | | $ | (604 | ) |
Slide 7
Summary Balance Sheets ($000)
| | At Sept30
(Unaudited) | | At June 30, 2013
(Audited) | | At June 30, 2012
(Audited) | |
Cash | | $ | 2,144 | | $ | 1,957 | | $ | 1,249 | |
Working Capital | | $ | 4,512 | | $ | 4,554 | | $ | 3,645 | |
Long Term Debt | | $ | 325 | | $ | 346 | | $ | 472 | |
Shareholder’s Equity | | $ | 5,584 | | $ | 5,421 | | $ | 4,626 | |
Slide 8
FY 2014 Objectives
· Continue double-digit overall revenue growth
· Demonstrate highest percentage of growth in proprietary products and Contract Services
· Solidify business position in China
· Show improvement in profitability of Contract R&D sector
· Consistent margin improvement
· Reductions on operating expenses as a percentage of sales
· Quarterly net profitability
Slide 9
How do we accomplish this
· Follow a well crafted strategic plan
· Maintain our focus
· Ensure that our Board and Management Team drive the vision, goals and strategies to create shareholder value
· Hold ourselves accountable
Slide 10
Next Shareholder Meeting
Tuesday, December 16, 2014
