-------------------- Insanity: doing the same thing over and over again and expecting different results Posts: 491 | Registered: Jun 2006
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posted
IGIA .004 Announces First Quarter Financial Results; Quarterly Revenue up 89%; Gross Profit up 138% 7/26/2006
NEW YORK, Jul 26, 2006 (BUSINESS WIRE) -- IGIA, Inc., (OTCBB: IGAI), announced today its financial results for the fiscal first quarter ended May 31, 2006, including quarterly revenue of $3,458,885, a 89.5% increase compared to $1,825,208 in revenues for the quarter ended May 31, 2005. Gross profit for the quarter was $2,689,377, a 138.3% increase compared to gross profit of $1,128,721 for the quarter ended May 31, 2005. IGIA, a designer, developer, and worldwide direct marketer and distributor of innovative personal and home care items, significantly increased its purchases of television and Internet advertising to generate the increases in quarterly revenue and gross profit.
IGIA's quarterly net income was $16,377,174 or $0.44 per share (basic) and $0.22 per share (diluted), as compared to a net loss of $2,879,886 or $0.16 per share (basic and diluted) for the quarter ended May 31, 2005. Primarily contributing to IGIA's net income was $13,989,024 or $0.37 per share (basic) and $0.19 (diluted) in income realized from the extinguishment of liabilities of IGIA's Tactica International, Inc. subsidiary, in connection with its business restructuring and reorganization plan. Net income also included a $6,091,309 or $0.16 per share (basic) and $0.08 (diluted) unrealized gain resulting from a change in IGIA's common stock value which effects the valuation of securities underlying IGIA's outstanding note and warrant obligations.
About IGIA: IGIA, Inc., through its wholly-owned subsidiaries, 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(R) 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 operate and resolve its working capital deficiency, including post-petition administrative expense claims following Tactica's reorganization plan becoming effective on March 28, 2006 and other company liabilities; (b) whether IGIA will have adequate credit card 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.
SOURCE: IGIA, Inc.
For IGIA, Inc. Paul Greenfield, 212-575-0500 ext. 134
Copyright Business Wire 2006
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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It hit 52-week low of .0034 today and the news J_U_ICE posted is pretty good.
-------------------- Insanity: doing the same thing over and over again and expecting different results Posts: 491 | Registered: Jun 2006
| IP: Logged |
It hit 52-week low of .0034 today and the news J_U_ICE posted is pretty good.
-------------------- Insanity: doing the same thing over and over again and expecting different results Posts: 491 | Registered: Jun 2006
| IP: Logged |
posted
Great pick juice. Mad i didnt get in on this one. Ameritrade has that thing where your money has to sit in your account for so many days before you can buy these penny stocks.
Posts: 596 | From: Kansas City | Registered: Jul 2006
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