Business
PURE Bioscience Reports Fiscal 2018 Second Quarter and Six-Month Financial Results
PURE Bioscience Reports Fiscal 2018 Second Quarter and Six-Month Financial Results.
About this update from Pure Bioscience
[{"type":"text","content":"\n \n PURE Bioscience, Inc. (OTCQB: \n PURE), creator of the patented non-toxic silver \n dihydrogen citrate (SDC) \n antimicrobial, today reported financial results for the fiscal second \n quarter and six-month period ended January 31, 2018.\n \n \n Q2: Summary of Results of Operations\n \n \n \n Revenues for the fiscal second quarter ended January 31, 2018 \n decreased 8% to $411,000, compared with revenues of $447,000 in the \n prior year fiscal second quarter. The decrease was due to fluctuations \n within our existing legacy customer base.\n\n \n \n Core food safety revenues for the fiscal second quarter ended 2018 \n increased 55% as compared with food safety revenues in the fiscal \n second quarter ended 2017.\n \n \n \n \n Net loss for the fiscal second quarter in 2018 was $2.0 million, as \n compared with $936,000 for fiscal second quarter in 2017. Net loss, \n excluding derivative income, and share-based compensation, for the \n second fiscal quarter in 2018 was $1.3 million, as compared with $1.2 \n million for the second quarter in 2017.\n \n \n Net loss per share was ($0.03) as compared with ($0.01) for the fiscal \n second quarter ended 2018 and 2017.\n \n \n Gross margin was 67% during the second quarter of fiscal 2018 as \n compared with 70% during the same period in fiscal 2017. The decrease \n in gross margin percentage was primarily attributable to the sale of \n lower margin formulations and packaging configurations of our products \n during the quarter ended January 31, 2018, as compared with the prior \n period.\n \n \n \n Six Months: Summary of Results of Operations\n \n \n \n Revenues for the six-months ended January 31, 2018 decreased 11% to \n $875,000 compared with prior year six-month revenues of $978,000.\n\n \n \n Core food safety revenues for the six months ended 2018 decreased \n 25% as compared with food safety revenues in the six months ended \n 2017. The decline in both total and food safety revenues was due \n to timing of product orders, as the initial system-wide stocking \n order from Chipotle occurred in fiscal 2017 Q1.\n \n \n \n \n \n \n Net loss for the six months ended January 31, 2018, was $4.4 million \n compared with $2.7 million for the six month period in 2017. Net loss, \n excluding derivative income, inducement expense and share-based \n compensation, for the six months ended J...