Bovie Medical Corporation Announces Preliminary Second Quarter 2018 Revenue Results
July 09 2018 - 7:02AM
Business Wire
Advanced Energy Sales increased approximately
70% year-over-year in Q2’18
Bovie Medical Corporation (NYSEMKT:BVX) (the “Company”),
a maker of medical devices and supplies and the developer of
J-Plasma®, a patented surgical product marketed and sold under the
Renuvion™ Cosmetic Technology brand in the cosmetic surgery market,
today announced preliminary revenue results for the second quarter
of fiscal year 2018.
Preliminary Second Quarter 2018 Revenue
Results:
For the three months ending June 30, 2018, the Company expects
to report:
- Total revenue in a range of
approximately $11.2 million to $11.5 million, up 15% to 17%
year-over-year.
- Advanced Energy revenue of
approximately $3.0 million to $3.1 million, up 66% to 72%
year-over-year, driven by strong Renuvion sales.
- Core revenue of approximately $7.6 to
$7.8 million, up 2% to 4% year-over-year.
- OEM revenue of approximately $0.6
million, up 16% year-over-year.
“We are extremely pleased with our second quarter revenue
results which were fueled by another quarter of strong demand for
our Renuvion Cosmetic Technology,” said Charlie Goodwin, Chief
Executive Officer of Bovie Medical. “We remain convinced that
Renuvion represents a game changing technology with the potential
to achieve attractive outcomes for physicians and their patients in
the cosmetic surgery market and look forward to continued progress
towards our goal of expanding adoption in the years to come.”
About Bovie Medical
Corporation:
Bovie Medical Corporation is a leading maker of medical devices
and supplies as well as the developer of J-Plasma® (marketed and
sold under the Renuvion™ Cosmetic Technology brand in the cosmetic
surgery market), a patented plasma-based surgical product for
cutting, coagulation and ablation of soft tissue. J-Plasma/Renuvion
technology utilizes a helium ionization process to produce a
stable, focused beam of plasma that provides surgeons with greater
precision, and minimal invasiveness. The new J-Plasma/Renuvion
handpieces with Cool-Coag™ technology deliver the precision of
helium plasma energy, the power of traditional monopolar
coagulation and the efficiency of plasma beam coagulation -
enabling thin-layer ablation and dissection and fast coagulation
with a single instrument, minimizing instrument exchange and
allowing a surgeon to focus on their patient and their procedures.
With Cool-Coag technology, the new J-Plasma/Renuvion handpieces can
deliver three distinctly different energy modalities - further
increasing the utility and versatility of the system. Bovie Medical
Corporation is also a leader in the manufacture of a range of
electrosurgical products and technologies, marketed through both
private labels and the Company’s own well-respected brands (Bovie®,
IDS™ and DERM™) to distributors worldwide. The Company also
leverages its expertise through original equipment manufacturing
(OEM) agreements with other medical device manufacturers. For
further information about the Company and its products, please
refer to the Bovie Medical Corporation website
at www.boviemedical.com.
Cautionary Statement on Forward-Looking
Statements:
Certain matters discussed in this release and oral statements
made from time to time by representatives of the Company may
constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 and the Federal
securities laws. Although the Company believes that the
expectations reflected in such forward-looking statements are based
upon reasonable assumptions, it can give no assurance that its
expectations will be achieved.
Forward-looking information is subject to certain risks, trends
and uncertainties that could cause actual results to differ
materially from those projected. Many of these factors are beyond
the Company's ability to control or predict. Important factors that
may cause actual results to differ materially and that could impact
the Company and the statements contained in this release can be
found in the Company's filings with the Securities and Exchange
Commission including the Company's Report on Form 10-K for the year
ended December 31, 2017 and subsequent Form 10-Q filings. For
forward-looking statements in this release, the Company claims the
protection of the safe harbor for forward-looking statements
contained in the Private Securities Litigation Reform Act of 1995.
The Company assumes no obligation to update or supplement any
forward-looking statements whether as a result of new information,
future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20180709005398/en/
Investor Relations
Contact:Westwicke Partners on behalf of Bovie
Medical CorporationMike Piccinino, CFA,
443-213-0500investor.relations@boviemed.com
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