AdvanSource Biomaterials said today it tapped Boston-based investment bank Mirus Securities to help provide guidance to the company. Wilmington, Mass.-based Advansource Biomaterials manufactures polymer materials used for the design and development of medical devices, specifically those designed to treat anatomical sites and disease states. The investment firm, which has in-depth experience with med-tech manufacturing, has […]
AdvanSource Biomaterials Corp.
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Here’s a quick rundown of a few releases over the past couple days:
AdvanSource Biomaterials Corp. (NYSE:ASB) is moving its stock out of the New York Stock Exchange effective Nov. 16, rather than be de-listed by the exchange after falling afoul of its equity and profitability requirements.
The Wilmington, Mass.-based advanced polymer maker also posted dismal results for its fiscal 2011 second quarter, notching sales and earnings reversals compared with the same period last year.
AdvanSource Biomaterials Corp. (NYSE:ASB) submitted a plan to the New York Stock Exchange detailing its attempt to regain compliance with the stock market’s listing requirements.
The Wilmington, Mass.-based company fell short of the exchange’s listing standards when its stockholders’ equity fell to $5.8 million, just shy of the NYSE’s $6 million threshold. In addition, the company had net losses and losses from continuing operations in its five most recent fiscal years.
AdvanSource Biomaterials Corp. (NYSE:ASB) patented a resin that combats MRSA infections.
Methicillin-resistant Staphylococcus aureus is responsible for thousands of hard-to-treat infections every year, but Wakefield, Mass.-based AdvanSource believes that incorporating its new antimicrobial polymer-based resin into medical devices would reduce those numbers.
The New York Stock Exchange warned AdvanSource Biomaterials Corp. (NYSE:ASB) that it faces de-listing from the market because it fell short of its equity and profitability requirements.
At the close of the AdvanSource’s fiscal quarter ending June 30, the company reported stockholders’ equity of $5.8 million, just shy of the NYSE’s $6 million threshold. In addition, the company had net losses and losses from continuing operations in its five most recent fiscal years.
AdvanSource Biomaterials Corp. (NYSE:ASB) trimmed its second-quarter losses by 5.4 percent on an 11.8 percent boost to its bottom line.
The Wilmington, Mass.-based medical device polymer supplier posted net losses of $642,000, or 3 cents per share, on sales of $503,000 during the three months ended June 30. That compares with net losses of $679,000, also 3 cents per share, on sales of $450,000 during the same period last year.
AdvanSource Biomaterials Corp. (AMEX:ASB) managed to pare its net losses during the third quarter, despite a decline in royalties from its medical device customers.
The Wilmington, Mass.-based polymer maker reported sales of $668,000 for the three months ended Dec. 31, 2009, down 2.9 percent compared with $688,000 during the third quarter of fiscal 2009. Net losses narrowed 45.8 percent to $542,000, compared with net losses of $1 million during Q3 2009.
AdvanSource Biomaterials Corp. (NYSE:ASB) is heeding Horace Greeley’s advice and heading west.
The Wilmington, Mass.-based advanced polymer maker hired Debbie Hauser to be its sales rep for western North America, in a bid to expand its geographic footprint to the Left Coast.
Hauser, principal and founder of Best Impressions, is an experienced plastics saleswoman with more than 20 years’ experience under her belt. She has Bay State roots, having earned plastics engineering degrees from UMass-Lowell. Hauser is based in Cardiff-by-the-Sea, Calif.