posted
Announces Third Quarter Financial Results Monday January 30, 8:07 am ET Quarterly Revenue up 419%
NEW YORK--(BUSINESS WIRE)--Jan. 30, 2006--IGIA, INC., (OTC: IGAI.OB - News) , a designer, developer, and worldwide direct marketer and distributor of innovative personal and home care items, announced today its financial results for the fiscal third quarter and nine months ended November 30, 2005. IGIA reported revenues of $7,921,688 for the fiscal third quarter ended November 30, 2005, a 418.9% increase compared to $1,526,539 in revenues for the three months ended November 30, 2004. IGIA reported revenues of $20,658,723 for the nine months ended November 30, 2005, a 104.6% increase compared to $10,098,522 for the nine months ended November 30, 2004. Gross profits for the three and nine month periods ended November 30, 2005 were 5,820,669 and $14,837,347, respectively, as compared to losses in the comparable 2004 periods. ADVERTISEMENT
For the third quarter and nine months ended November 30, 2005, IGIA's net losses were $2,139,207 or $0.12 per share and $5,185,242 or $0.29 per share, respectively. Contributing to IGIA's losses in the current fiscal year was the expense of reorganizing the operations of its subsidiary, Tactica International, Inc., which had its plan of reorganization confirmed on January 12, 2006 by the United States Bankruptcy Court for the Southern District of New York. Professional fees associated with the reorganization were $469,762 and $1,477,896 respectively for the three and nine month periods ended November 30, 2005. For the third quarter and nine months ended November 30, 2004, the Company's net losses were $6,711,550 or $0.37 per share and $12,559,629 or $0.70 per share, respectively.
The increases in revenue and gross profits reflect the Company's focus on selling its products directly to consumers through responses to its television infomercials. The Company significantly increased its purchases of television advertising to generate the results for the fiscal third quarter and nine month period ended November 30, 2005. Media advertising expense for those periods was $2,962,797 and $7,398,226, respectively.
Avi Sivan, CEO of IGIA, Inc., stated, "We are pleased to be focusing on direct response sales, the foundation of our business. Consumer acceptance of our innovative products is encouraging. With direct response sales driving revenues and a new operating structure coming into place, we view our future with renewed optimism. Management, the employees and our advisors are committed to the challenges ahead."
About IGIA
IGIA, Inc. is a designer, developer, and worldwide direct marketer and distributor of innovative personal and home care items. Its globally recognized portfolio of brands includes IGIA®, Wind Storm(TM) and the registered proprietary As Seen On TV(TM) logo. The IGIA name ranks amongst the most recognizable personal care brands as cited by an industry publication. In addition, Tactica markets and sells these products through TV infomercials, mass-market retailers as well as specialty retailers, catalogs and through http://www.igia.com
This press release contains forward-looking statements. The words or phrases "may," "intends," "expects," "estimate," "indicate," "plans," "anticipates," "could," "if," "will," "should" or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These risks and uncertainties include: (a) whether Tactica will emerge from bankruptcy as a viable entity following its filing of voluntary petition for protection under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York (docket 04-16805) on October 21, 2004; (b) whether IGIA and/or Tactica will obtain additional financing to adequately operate its business and execute acquisitions; (c) other factors set forth in IGIA's periodic reports and registration statements filed with the Securities and Exchange Commission, which may be reviewed by accessing the SEC's EDGAR system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. IGIA cautions readers not to place undue reliance on such statements. Unless otherwise required by applicable law, IGIA does not undertake, and IGIA specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
Contact: for IGIA, Inc. General Counsel: Paul Greenfield, 212-575-0500 x134
-------------------------------------------------------------------------------- Source: IGIA, Inc.
Posts: 433 | From: New York. | Registered: Sep 2003
| IP: Logged |
IGIA Announces Annual Financial Results Thursday June 15, 5:32 pm ET Revenue up 125% Tactica Plan Effective
NEW YORK--(BUSINESS WIRE)--June 15, 2006--IGIA, INC., (OTC: IGAI - News), a designer, developer, and worldwide direct marketer and distributor of innovative personal and home care items, announced today its financial results for fiscal year ended February 28, 2006. IGIA reported revenues of $25,532,151 for fiscal year ended February 28, 2006; a 125.5% increase compared to $11,324,450 in revenues for fiscal year ended February 28, 2005. Gross profit for fiscal 2006 was $16,163,879 or a 63.3% gross margin, compared to a fiscal 2005 loss of $234,146 or a (2.1%) gross loss. ADVERTISEMENT
Revenue was $12,795,116 for the six months ended February 28, 2006, which was the period that IGIA began using funds raised from a $3,000,000 financing, compared to revenue of $2,752,467 for the six months ended February 28, 2005. Gross profit was $3,827,085 the six months ended February 28, 2006, compared to a gross loss of $7,147,201 for the six months ended February 28, 2005.
Increased revenue and gross profit reflect IGIA's focus on selling its products directly to consumers through responses to its television infomercials. IGIA significantly increased purchases of television advertising to generate the fiscal 2006 results. IGIA aired product infomercials on major television networks and cable stations nationwide, including CNBC, USA Network, COURT TV, SCI FI Channel and TV Guide Channel, achieving potential viewership at times exceeding 89 million households. Media advertising expense for fiscal 2006 was $11,178,572, compared to $613,867 for fiscal 2005.
For fiscal 2006, IGIA's net loss was $17,158,737 or $0.92 per share, compared to $16,197,364 or $0.90 per share in fiscal 2005. Contributing to IGIA's fiscal 2006 loss was charges of $10,186,135 or $0.55 per share, consisting of a $6,549,037 non-cash charge for financing activities and a $3,637,098 charge for reorganizing operations of our subsidiary, Tactica International, Inc., under a reorganization plan that became effective on March 28, 2006.
Avi Sivan, CEO of IGIA, Inc., stated, "We are pleased to be focusing on direct response sales, the foundation of our business, and view our future with renewed optimism. Looking forward, we see opportunities internationally to leverage our product lines in proven markets where we were successful in the past."
About IGIA
IGIA, Inc., through its wholly-owned subsidiaries Tactica International, Inc., Shopflash, Inc. and Kleenfast, Inc., is a designer, developer, and worldwide direct marketer and distributor of innovative personal and home care items. Its globally recognized portfolio of brands includes IGIA®, Milinex, Wind Storm(TM) and the registered proprietary As Seen On TV(TM) logo. The IGIA name ranks amongst the most recognizable personal care brands as cited by an industry publication. In addition, IGIA markets and sells products through TV infomercials, mass-market retailers, specialty retailers, catalogs and through http://www.igia.com.
This press release contains forward-looking statements. The words or phrases "may," "intends," "expects," "estimate," "indicate," "plans," "anticipates," "could," "if," "will," "should" or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in forward-looking statements as a result of a number of risks and uncertainties. These risks and uncertainties include: (a) whether IGIA and/or Tactica will obtain additional financing to adequately operate and resolve post-petition administrative expense claims following Tactica's reorganization plan becoming effective on March 28, 2006; (b) whether IGIA will have adequate credit card activity processing capacity and terms with major credit card companies and a credit card processor upon which IGIA's direct response sales operation is dependent; (c) other factors set forth in IGIA's periodic reports and registration statements filed with the Securities and Exchange Commission, which may be reviewed by accessing the SEC's EDGAR system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. IGIA cautions readers not to place undue reliance on such statements. Unless otherwise required by applicable law, IGIA does not undertake, and IGIA specifically disclaims any obligation to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
Contact: For IGIA, Inc. General Counsel: Paul Greenfield, 212-575-0500 x134
-------------------------------------------------------------------------------- Source: IGIA, Inc.
-------------------- A million seconds is 13 days. A billion seconds is 31 years. Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
