Human Pheromone Sciences Announces First Quarter Results
May 16 2005 - 4:30PM
PR Newswire (US)
Human Pheromone Sciences Announces First Quarter Results SAN JOSE,
Calif., May 16 /PRNewswire-FirstCall/ -- Human Pheromone Sciences,
Inc. (OTC:EROX) (BULLETIN BOARD: EROX) ("HPS" or "the Company")
today announced results for the first quarter ended March 31, 2005.
Net sales from on-going operations of $126,000, represented a 51%
decrease from the sales of $259,000 in the prior year period, and
resulted in a net loss $281,000 ($.07 per share) as compared with a
net loss of $88,000 ($.02 per share) for the same period of 2004.
At March 31, 2005, the Company reflected cash balances of
$1,095,000 as compared with $1,201,000 at December 31, 2004,
representing a net $106,000 cash outflow during the three months.
There was no bank indebtedness outstanding at either date. "The
first quarter sales decline resulted from a large volume of orders
that were received the fourth quarter 2004 that the Company had
historically received and shipped in the first quarter of each
year. In order to bolster sales of the Company's Natural
Attraction(R) line of pheromone based products the Company has
recently undertaken a project to redesign the product's electronic
marketing program and the institution of a creative campaign to
attract more customers to a newly-developed website in the third
quarter of this year. Sales in the international markets increased
93% and represented 63% of the Company's current year revenues in
the quarter," a spokesperson indicated. The Company also noted that
it continues to invest in the future -- with new product
development programs, the expanded electronic marketing for its
Natural Attraction brand, and increased laboratory testing on male
and female volunteers with a series of compounds that have shown
promising early results in current human studies. "We have once
again seen extensive validation of our research on our patented
human pheromone technology by independent scientists at leading
institutions around the world. Headlines this week regarding our
pheromones, Androstadienone and Estratetraenol, have validated that
we are indeed the industry leader in human pheromone technology."
The Company spokesman was referring to the study conducted at the
prestigious Karolinska Institute, indicating that the two leading
compounds for which the Company has use patents elicit different
responses in heterosexual men and women as compared to homosexual
men. The spokesman continued, "these findings were first reported
by our scientists, and we are indeed honored to have their work
independently verified by such a highly regarded institution. We
will continue to invest in the development of new compounds that we
have already identified, reproduced and are currently being tested
in our laboratories." Human Pheromone Sciences, Inc. is a
technology-based company, which develops and markets mood enhancing
compounds for use in consumer products. The Company's proof-of
concept products included prestige-priced fragrances and toiletries
and consumer products sold under the Natural Attraction(R),
REALM(R), innerREALM(R) and EROX(R) trademarks. The Company also
licenses its proprietary technology to other companies for
inclusion in their products for direct sale to the consumer. These
products contain human pheromones, the use of which is covered
under United States and foreign patents. Scientific and consumer
studies have shown that the Company's human pheromones positively
impact on the moods, attitudes and emotions of wearers. Further
information is available on line at http://www.erox.com/. The
statements in this news release may contain forward-looking
statements that involve risks and uncertainties that could cause
results to differ from predicted results. Further information on
factors that could affect the Company's results is detailed in the
Company's annual report to shareholders on Form 10-KSB for the year
ended December 31, 2004 as filed with the Securities and Exchange
Commission. The Company undertakes no obligation to publicly
release the result of any revisions to these forward-looking
statements. HUMAN PHEROMONE SCIENCES, INC. Condensed Balance Sheets
(Unaudited) (Dollars in thousands) March 31, December 31, 2005 2004
Assets Cash and cash equivalents $1,095 $1,201 Accounts receivable,
net 72 259 Inventories 68 63 Other current assets 34 8 Property and
equipment, net 15 17 Total $1,284 $1,548 Liabilities and
shareholders' deficit Accounts payable $75 $41 Other current
liabilities 137 154 Common stock 20,809 20,809 Accumulated deficit
(19,737) (19,456) Total $1,284 $1,548 HUMAN PHEROMONE SCIENCES,
INC. Condensed Statements of Operations (Unaudited) (Dollars in
thousands, except per-share data) Three months ended March 31, 2005
2004 Net sales and revenues $126 $259 Cost of goods sold 41 40
Research and development 46 9 Selling, general and administrative
326 301 Loss from operations (287) (91) Other income 6 3 Net loss
$(281) $(88) Earnings (loss) per share, basic and fully diluted:
$(0.07) $(0.02) Weighted average number of shares outstanding -
Basic and fully diluted 4,152 4,105 Net income (loss) per share is
based on the weighted average number of common shares and common
equivalents outstanding during each period. Certain common stock
equivalents are excluded when their effect would be anti-dilutive.
DATASOURCE: Human Pheromone Sciences, Inc. CONTACT: William P.
Horgan, Chairman, CEO of Human Pheromone Sciences, Inc.,
+1-408-938-3030 Web site: http://www.erox.com/
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