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bg medicine inc (BGMD) Key Developments

BG Medicine, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Full Year of 2014

BG Medicine, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total revenues of $799,000 compared with $1,006,000 for the same period a year ago. Loss from operations was $1,971,000 compared with $4,549,000 for the same period a year ago. Net loss was $2,169,000 or $0.06 per basic and diluted share compared with $4,837,000 or $0.18 per basic and diluted share for the same period a year ago. The decrease in total revenues reflected a $173,000 decrease in product revenues and a $34,000 decrease in service revenues from the prior year quarter. The decrease in product revenues resulted from a $141,000 decline in orders from its clinical laboratory customer and a $90,000 decline in purchases relating to independent research studies that were partially offset by increased revenues of $58,000 from product sales to other clinical laboratory customers. The reduction in service revenues resulted from the planned completion of the High Risk Plaque initiative in 2013 and its decision to close its research facilities in 2013 as part of its initiative to streamline the operations of the Company. For the six months, the company reported total revenues of $1,538,000 compared with $1,894,000 for the same period a year ago. Loss from operations was $3,918,000 compared with $9,350,000 for the same period a year ago. Net loss was $4,348,000 or $0.14 per basic and diluted share compared with $10,249,000 or $0.39 per basic and diluted share for the same period a year ago. Net cash used in operating activities was $4,992,000 compared with $8,808,000 for the same period a year ago. The company provided earnings guidance for the full year of 2014. Notwithstanding the modest revenue growth that the company is achieving from the sales of its products to the majority of its clinical laboratory customers, the company is no longer expects full year 2014 revenues to exceed its 2013 revenues, in light of the decrease in year-to-date revenues from its clinical laboratory customer and the lack of predictability of sales relating to independent research studies. Nevertheless, for the full year 2014, the company continues to expect to decrease its operating cash burn as compared to 2013.

BG Medicine, Inc. to Report Q2, 2014 Results on Aug 14, 2014

BG Medicine, Inc. announced that they will report Q2, 2014 results on Aug 14, 2014

BG Medicine, Inc., Q2 2014 Earnings Call, Aug 14, 2014

BG Medicine, Inc., Q2 2014 Earnings Call, Aug 14, 2014

BG Medicine, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Provides Earnings Guidance for the Full Year of 2014

BG Medicine, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported total revenues of $739,000 against $888,000 a year ago. Loss from operations was $1,947,000 against $4,801,000 a year ago. Net loss was $2,179,000 or $0.08 basic and diluted per share against $5,412,000 or $0.21 basic and diluted per share a year ago. The decrease in total revenues reflected an $81,000 decrease in product revenues and a $68,000 decrease in service revenues. The decrease in product revenues resulted from a decline in orders due to inclement weather in the Eastern half of the United States, where its clinical laboratory customers are concentrated, and in purchases relating to independent research studies which, typically, vary from quarter to quarter. The reduction in service revenues resulted from the planned completion of the High Risk Plaque initiative in 2013 and its decision to close its research facilities in 2013. Operating cash burn for the quarter decreased by $1.9 million, a 44% decrease to $2.4 million compared to an operating cash burn of $4.2 million in the first quarter of 2013. The company provided earnings guidance for the full year of 2014. For the year, the company expects to increase its revenues and decrease its operating cash burn as compared to 2013.

BG Medicine, Inc. to Report Q1, 2014 Results on May 14, 2014

BG Medicine, Inc. announced that they will report Q1, 2014 results on May 14, 2014

 

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