Analysis of Financial Situation and Operating Results
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Analysis of Financial Situation and Operating Results
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SUMMARY OF OPERATING RESULTS
Fiscal years ended December 31 (in thousands of dollars except loss/share)
| 2007 | 2006 | 2005 | |
| Sales | $ 1,731 | $ 1,070 | $ 172 |
| Operating Expenses | $ 1,892 | $ 1,643 | $ 994 |
| Marketing | $ 4,189 | $ 3,185 | $ 1,873 |
| Research and Development (before tax credits) | $ 1,782 | $ 1,682 | $ 1,878 |
| Administrative | $ 3,228 | $ 3,090 | $ 2,378 |
| Financial Fees | $ 17 | $ 18 | $ 14 |
| Other Revenues | $ 1,465 | $ 1,071 | $ 530 |
| Net Loss | $ 7,912 | $ 7,477 | $ 6,435 |
| Net Loss Per Share | $ 0.17 | $ 0.20 | $ 0.19 |
| Weighted Average Number of Shares Outstanding (in thousands) |
45,321 | 36,560 | 33,824 |
FINANCIAL POSITION
As at December 31 (in thousands of dollars)
| 2007 | 2006 | 2005 | |
| Liquid Assets (Cash, Cash Equivalents and Temporary Investments) |
$ 26,205 | $ 7,309 | $ 14,595 |
| Accounts Receivable | $ 975 | $ 811 | $ 344 |
| Inventories | $ 2,996 | $ 3,388 | $ 3,303 |
| Property, Plant and Equipment | $ 508 | $ 391 | $ 416 |
| Intangible Assets | $ 3,664 | $ 3,712 | $ 3,832 |
| Deferred Revenues | $ 146 | $ 76 | $ 962 |
| Share Capital and Contributed Surplus | $80,682 | $52,149 | $ 50,657 |
| Shareholders’ Equity | $33,041 | $14,624 | $ 20,610 |
For more information:
Marc Boisjoli, Vice President Finance and Chief Financial Officer
(418) 651-0003, Ext. 228 / mboisjoli@tso3.com
Caroline Côté, Director, Corporate Communications and Investor Relations
(418) 651-0003, Ext. 237 / ccote@tso3.com