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  • ARYC President Dr Schena Discusses Q2 Performance In A Brief Interview 2 comments
    Aug 16, 2013 1:55 AM | about stocks: ARYC

    After our article on Arrayit (OTCPK:ARYC) we did a quick interview of Dr Mark Schena today and here's what he said about their Q2 performance:

    Arrayit management is pleased to announce a strong operational quarter in Q2-2013. Revenue increased 19% YOY to $1.55M for the six months ended June 30, 2013 from $1.3M for the six months ended June 30, 2012. Gross margin increased 21% YOY to $0.71M for the six months ended June 30, 2013 from $0.59M for the six months ended June 30, 2012. Net income rose by $1.48M YOY to $0.16M for the six months ended June 30, 2013 compared to a $1.31M loss for the six months ended June 30, 2012. Net income attributable to common shareholders rose by $1.06M YOY to $0.16M for the six months ended June 30, 2013 compared to a $0.89M loss for the six months ended June 30, 2012. SG&A was reduced by $1.25M YOY to $0.49M for the six months ended June 30, 2013 compared to $1.74M for the six months ended June 30, 2012. Gross accounts receivable grew 8.3% YOY to $0.64M for the six months ended June 30, 2013 from $0.59M for the six months ended June 30, 2012.

    During the three months ended June 30, 2013, the company raised $0.175M from an accredited investor, which will positively impact revenue and earnings in Q3-2013.

    In our own assessment of the results, we noted a loss in sales mainly due to a delay in manufacturing. However, this was an operational issue which did not impact orders. Backload orders have improved to $0.29 million and ARYC posted lower gross margin of 37%, primarily due to decrease in sales of high margin microarray instruments and consumables.

    Also, Arrayit has lower net loss from operations of $0.02 million compared to last period ($0.62 million), due to decline in consulting fees and legal expenses. The company has used cash of $0.92 million for its operations.

    Currently, company has enough funds to carry out its operations for next 12 months, but needs additional funds. I expect that ARYC's focus on high margin microarray products will bring some positive outlook in the next year.

    Disclosure: I am long OTCPK:ARYC.

    Stocks: ARYC
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Comments (2)
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  • filoblack
    , contributor
    Comments (23) | Send Message
     
    Thanks for the information. This is a great communications effort. Thanks for your DD CBOE trader.
    16 Aug 2013, 01:09 PM Reply Like
  • Dilligas44
    , contributor
    Comments (63) | Send Message
     
    Nice post good info Also another instablog post on SA
    http://bit.ly/1ePAx1h
    18 Mar 2014, 04:52 PM Reply Like
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