SAN JOSE, Calif., March 27, 2009 /PRNewswire-FirstCall via COMTEX/ ----Human Pheromone Sciences, Inc. (OTC Bulletin Board: EROX) ("HPS" or "the Company") today announced results for the three months and the year ended December 31, 2008.
For the three months ended December 31, 2008, lattice gain was $228,000, representing a 41% diminish from revenues of $389,000 in the whilom year period, and resulted in clear sacrifice of $(58,000) ($(0.01) per share) as compared with bag proceeds of $38,000 ($0.01 per share) for the same term in 2007. For the well supplied year, make revenues of $992,000, were 23% less than revenues of $1,291,000 generated in the ex year. The take home shrinkage in the modish year of $239,000 ($0.06 per share) was $223,000 higher than the $16,000 trouncing ($.00 per share) recorded for the absorbed year of 2007.
Net gelt utilized for the preoccupied year of 2008 was $530,000, less than a 5% advance from the $501,000 utilized in the year 2007. "The gate reduction in the fourth put up and the open year was attributable to a significant reduction in purchases by our largest and cardinal multinational licensee of pheromones. Over the days 10 years we have been fundamentally dependent on purchases by this person for takings generation. Total offering revenues decreased by approximately 50% from this buyer in 2008," a spokesperson noted.
"Over the existence duo of years, we developed a multi-faceted program to be less dependent on any one customer, solicit additional licensees in the U.S. and widely for our beginning pheromone technologies, superlative meticulous validation on our most cheering mood-enhancing add to and confer the results to consumer marketers.
With etiquette to the blue ribbon vital imperative, during 2008, licensing net increased to $604,000, a 15% development from the previous year, particularly attributable to novel concord with a multinational corporation. Discussions are ceaseless with capacity licensees and we are also in discussions to broaden the channels of assignment for our first pheromone compounds. With property to the espouse area of focus, the discovery and patented immunity of new mood-enhancing compounds, the Company filed a decisive U.S. Patent Application and a European filing for a coalesce that has shown significantly enhanced confident feelings and emotions in both men and women.
We are currently presenting the results of the individual studies on ER 303 to several multinational consumer products companies. In addition, the Company completed approve toxicology testing and original woman retort studies on another parasynthesis for women, and we have identified and selected six additional compounds that have shown commitment in endorse laboratory studies." "We maintain that pinpoint on these fundamental strategic imperatives will lessen our dependence on the purchasing cycle of one humongous customer, and ensure balanced expansion in revenue and an expanded technology and consumer base, without major capital investment," the spokesman further stated. Human Pheromone Sciences, Inc. is a technology-based company, whose proof-of-concept products included prestige-priced fragrances and toiletries and environmental products sold under the REALM(R), innerREALM(R) and EROX(R) trademarks.
These products, and its Natural Attraction(R) artefact line, curb mood-enhancing synthesized benignant pheromones covered under U.S. and inappropriate patents.
The Company also licenses its proprietary technology to other companies for involvement in their products for lineal purchasing to the consumer. Scientific and consumer studies have shown that the Company's generous pheromones emphatically smashing on the moods, attitudes and emotions of wearers. Further message is on tap online at www.erox.com. The statements in this scuttlebutt issue may have in it forward-looking statements that number among risks and uncertainties that could cause true to life results to diverge from predicted results.
Further dope on factors that could pretend the Company's results is complex in the Company's annual set forth to shareholders on Form 10-K for the year ended December 31, 2008 as filed with the Securities and Exchange Commission. The Company undertakes no compulsion to publicly notice the denouement of any revisions to these forward-looking statements. HUMAN PHEROMONE SCIENCES, INC. Condensed Balance Sheets (Dollars in thousands) December 31, December 31, 2008 2007 Assets Cash and ready equivalents $ 907 $ 1,437 Accounts receivable 52 194 Inventories, capture 39 25 Other going round assets 58 40 Property and equipment, realize 2 3 ------------- --------------- Total $ 1,058 $ 1,699 ============= =============== Liabilities and Shareholders' Equity Accounts owing $ 19 $ 28 Other in the know liabilities 131 141 Deferred takings - flow 297 518 Deferred revenue - non-current 324 566 Common have 21,043 20,963 Accumulated default (20,756) (20,517) ------------- --------------- Total $ 1,058 $ 1,699 ============= =============== HUMAN PHEROMONE SCIENCES, INC. Condensed Statements of Operations (Dollars in thousands, exclude per-share data) Three months Year ended December 31, ended December 31, 2008 2007 2008 2007 Net revenues $ 228 $ 389 $ 992 $ 1,291 Cost of goods sold 82 99 322 376 Research and unfolding 14 11 47 49 Selling, prevalent and administrative 193 256 889 942 ------ ------ ------ -------- Income (loss) from operations (61) 23 (266) (76) Other receipts 5 15 30 65 ------ ------ ------ -------- Income (loss) before prerequisite for return taxes (56) 38 (236) (11) Provision for Income taxes 2 - 3 5 ------ ------ ------ -------- Net gain (loss) $ (58) $ 38 $ (239) $ (16) ====== ====== ====== ======== Net profit (loss) per share in - Basic $(0.01) $ 0.01 $(0.06) $ (0.00) Fully diluted $(0.01) $ 0.01 $(0.06) $ (0.00) Weighted standard tally of shares - Basic 4,152 4,152 4,152 4,152 Fully diluted 4,152 4,852 4,152 4,152 Net income (loss) per ration is based on the weighted undistinguished count of simple shares and workaday equivalents superb during each period.
Certain familiar deal in equivalents are excluded when their purpose would be anti-dilutive. SOURCE Human Pheromone Sciences, Inc.
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