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As of 8:04 PM 10/24/14 All times are local (Market data is delayed by at least 15 minutes).

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06/2/14 - $5.00
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bovie medical corp (BVX) Details

Bovie Medical Corporation, an energy-based medical device company, develops, manufactures, and markets a range of electrosurgical products and technologies, and related medical products worldwide. The company’s electrosurgery products include desiccators, generators, electrodes, electrosurgical pencils, and various ancillary disposable products used during surgical procedures in gynecology, urology, plastic surgery, dermatology, veterinary, and other surgical markets for the cutting and coagulation of tissue. It also offers battery operated cauteries; and battery operated medical lights for use in ophthalmology, as well as for general surgery, hip replacement surgery, and the placement of endotracheal tubes in emergency and surgical procedures. In addition, the company manufactures physicians’ office use penlights; and a nerve locator stimulator used for identifying motor nerves in hand and facial reconstructive surgery. Further, Bovie Medical Corporation is developing Derm 101 and Derm 102 products, which are 10 watt high frequency desiccators for use in family practice, aesthetics, and dermatology settings; and Seal-N-Cut, a disposable endoscopic surgical handle. The company markets its products through medical distributors to hospitals, doctor’s offices, and other healthcare facilities. Bovie Medical Corporation was founded in 1982 and is based in Clearwater, Florida.

136 Employees
Last Reported Date: 05/8/14
Founded in 1982

bovie medical corp (BVX) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $56.7K
President, Chief Sales & Marketing Officer an...
Total Annual Compensation: $305.2K
Executive Chairman
Total Annual Compensation: $215.5K
Senior Vice President
Total Annual Compensation: $204.8K
Vice President of Sales & Marketing - Surgica...
Total Annual Compensation: $160.1K
Compensation as of Fiscal Year 2013.

bovie medical corp (BVX) Key Developments

Bovie Medical Corporation Announces Auditor Changes

On September 30, 2014, Bovie Medical Corporation announced that as a result of the acquisition of substantially all of the assets and business of its previous registered independent public accounting firm, Kingery & Crouse PA, by Frazier & Deeter, LLC, dismissed Kingery as its registered independent public accounting firm and engaged Frazier & Deeter. The decision to dismiss Kingery was approved by the audit committee of the company's board of directors. On October 1, 2014, the audit committee approved the appointment of Frazier & Deeter as its new registered independent public accountant, and the company formally engaged Frazier & Deeter as the company's independent public accountant on October 1, 2014.

Bovie Medical Announces Management Appointments

Bovie Medical announced that it has added two experienced sales executives to its direct sales force. Todd Hornsby joins the company as Vice President of Sales, effective August 25, 2014. Todd began his career in the field with Johnson & Johnson Ethicon Endo-Surgery and Medex before spending the last 10 years at Cryolife, where he held several sales positions before being named Senior Director of U.S. Sales in 2007. Todd brings a solid mix of sales success in the field and leadership experience to the J-Plasma(R) roll-out. Craig Roberson has come on board as Eastern Regional Sales Manager, effective August 18, 2014. Craig has 22 years of medical device sales experience. Most recently, he was District Sales Manager for a line of surgical products developed by the Bard Medical Division of CR Bard.

Bovie Medical Corporation Announces Unaudited Consolidated Financial Results for the Second Quarter and Half Year Ended June 30, 2014

Bovie Medical Corporation announced unaudited consolidated financial results for the second quarter and half year ended June 30, 2014. For the quarter, sales were $6,945,000 against $6,042,000 a year ago. Loss from operations was $1,746,000 against $1,650,000 a year ago. Pre-tax loss was $332,000 against $1,673,000 a year ago. Net income attributable to common shareholders was $29,000 or $0.07 per diluted share against net loss attributable to common shareholders of $1,119,000 or $0.06 per basic and diluted share a year ago. Adjusted non-GAAP net loss was $460,000 or $0.03 per basic and diluted share against $460,000 or $0.03 per basic and diluted share a year ago. The adjusted operating loss, which excludes the previously-mentioned inventory write-down and $383,000 related to CFO transition and other charges, was $520,000 compared to an adjusted operating loss of $609,000 in the prior year which excludes the $1.0 million impact of a legal award. For the half year, sales were $13,427,000 against $11,738,000 a year ago. Loss from operations was $1,687,000 against $2,315,000 a year ago. Pre-tax loss was $9,901,000 against $2,428,000 a year ago. Net loss attributable to common shareholders was $9,782,000 or $0.55 per basic and diluted share against $1,529,000 or $0.09 per basic and diluted share a year ago. Adjusted non-GAAP net loss was $536,000 or $0.03 per basic and diluted share against $836,000 or $0.05 per basic and diluted share a year ago.


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