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PURE Bioscience Reports Fiscal 2021 Third Quarter and Nine-Month Financial Results
PURE Bioscience Reports Fiscal 2021 Third Quarter and Nine-Month Financial Results.
About this update from Pure Bioscience
[{"type":"text","content":"\nPURE Bioscience, Inc. (OTCQB: PURE) (the “Company,” “PURE” or “we”), creator of the patented non-toxic silver dihydrogen citrate (SDC) antimicrobial, today reported financial results for the fiscal third quarter and nine-month period ended April 30, 2021.\n\nQ3: Summary of Results of Operations\n\n\nNet product sales for the fiscal third quarter ended April 30, 2021 decreased 75% to $556,000, compared to $2,221,000 for the fiscal third quarter ended April 30, 2020. The decrease of $1,665,000 was attributable to decreased sales across our distribution and end-user network servicing the food processing and transportation industry. During the three months ended April 30, 2020, the Company experienced a drastic increase in sales of SDC due to the onset of the COVID-19 pandemic.\n\n\nNet loss for the fiscal third quarter ended April 30, 2021 was $811,000, compared to net income of $473,000 for the fiscal third quarter ended April 30, 2020. Net loss, excluding share-based compensation, for the fiscal third quarter ended April 30, 2021 was $598,000, compared to net income of $519,000 for the fiscal third quarter ended April 30, 2020.\n\n\nNet loss per share was ($0.01) for the fiscal third quarter ended April 30, 2021, compared to net income per share of $0.01 for the fiscal third quarter ended April 30, 2020.\n\n\nGross margin as a percentage of net product sales was 56% for the fiscal second quarters ended April 30, 2021 and 2020.\n\n\nNine Months: Summary of Results of Operations\n\n\nNet product sales for the nine months ended April 30, 2021 decreased 4% to $2,841,000, compared to $2,968,000 for the nine months ended April 30, 2020. The decrease of $127,000 was attributable to decreased sales across our distribution and end-user network servicing the food processing and transportation industry. In addition, during the nine months ended April 30, 2021, we recognized $227,000 in royalties from a nonexclusive third-party distributor.\n\n\nNet loss for the nine months ended April 30, 2021 was $1,586,000, compared to $1,318,000 for the nine months ended April 30, 2020. Net loss, excluding share-based compensation, for the nine months ended April 30, 2021 was $903,000, compared to $725,000 for the nine months ended April 30, 2020.\n\n\nNet loss per share was ($0.02) for the nine months ended April 30...