Business
PURE Bioscience Reports Fiscal 2019 Third Quarter and Nine-Month Financial Results
PURE Bioscience Reports Fiscal 2019 Third Quarter and Nine-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 dihydrogen citrate (SDC) \n antimicrobial, today reported financial results for the fiscal third \n quarter and nine-month period ended April 30, 2019.\n \n \n Q3: Summary of Results of Operations\n \n \n \n Revenues for the fiscal third quarter ended April 30, 2019 decreased \n 20% to $312,000, compared with revenues of $390,000 in the prior year \n fiscal third quarter. The decrease was due to a change in timing of a \n legacy customer’s orders and somewhat lower food safety sales.\n \n \n Net loss for the fiscal third quarter in 2019 was ($1.9 million), as \n compared with a loss of ($1.7 million) for fiscal third quarter in \n 2018. Net loss, excluding inducement expense, for the third fiscal \n quarter in 2019 was ($913,000), as compared with a loss of ($1.7 \n million) for the third quarter in 2018.\n \n \n Net loss per share was ($0.03) in 2019 as compared with ($0.02) for \n the fiscal third quarter ended 2018.\n \n \n Gross margin was 63% during the third quarter of fiscal 2019 as \n compared with 57% during the same period in fiscal 2018. The increase \n in gross margin percentage was primarily attributable to the sale of \n higher margin formulations and packaging configurations of our \n products during the quarter ended April 30, 2019, as compared with the \n prior period.\n \n \n \n Nine Months: Summary of Results of Operations\n \n \n \n Revenues for the nine-months ended April 30, 2019 increased 2% to \n $1,296,000 compared with prior year nine-month revenues of $1,265,000.\n\n \n \n Core food safety revenues for the nine months ended 2019 increased \n 31% as compared with food safety revenues in the nine months ended \n 2018. The increase in both total and food safety revenues was due \n to growing customer adoption.\n \n \n \n \n Net loss for the nine months ended April 30, 2019, was ($5.7 million) \n compared with ($6.1 million) for the nine-month period in 2018. Net \n loss, excluding derivative income, inducement expense and share-based \n compensation, for the nine months ended April 30, 2019 was ($2.4 \n million), as compared with ($3.7 million) for the nine-month period in \n 2018.\n \n \n Net loss per share was ($0.08) in 2019 as compared with ($0.09) for \n the nine months ended fiscal 2018.\n \n \n Gross margin...