-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Kx3fbWEEPdsurep/TCxEhl4HT4xwGYUbu4E8lkXDMWtnIPtK3vVsDkqsWQHquSrH kVqd0FoQ0l+o3OB2CPExJw== 0001275287-06-000395.txt : 20060126 0001275287-06-000395.hdr.sgml : 20060126 20060126105522 ACCESSION NUMBER: 0001275287-06-000395 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20060125 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060126 DATE AS OF CHANGE: 20060126 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ENCISION INC CENTRAL INDEX KEY: 0000930775 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] IRS NUMBER: 841162056 STATE OF INCORPORATION: CO FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11789 FILM NUMBER: 06552080 BUSINESS ADDRESS: STREET 1: 4828 STERLING DR CITY: BOULDER STATE: CO ZIP: 80302 BUSINESS PHONE: 3034442600 MAIL ADDRESS: STREET 1: 4828 STERLING DR CITY: BOULDER STATE: CO ZIP: 80301 FORMER COMPANY: FORMER CONFORMED NAME: ELECTROSCOPE INC DATE OF NAME CHANGE: 19960502 8-K 1 ei4583.htm FORM-8K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Message

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)   January 25, 2006

ENCISION, INC.


(Exact name of registrant as specified in its charter)

 

 

 

 

 

Colorado

 

0-28604

 

84-1162056


 


 


(State or other jurisdiction
 of incorporation)

 

(Commission
File Number)

 

(I.R.S. Employer
Identification No.)

 

 

 

 

 

6797 Winchester Circle, Boulder, Colorado

 

80301


 


(Address of principal executive offices)

 

(Zip Code)

 

 

 

Registrant’s telephone number, including area code     (303) 444-2600

 


(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 

o

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

o

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

o

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 



Item 2.02           Results of Operations and Financial Condition

                           The following information is furnished pursuant to Item 2.02, “Results of Operations and Financial Condition,” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.

                           On January 25, 2006, ENCISION, INC., issued a press release announcing its financial results for the second quarter ended December 31, 2005.  A copy of the press release is attached hereto as Exhibit 99.1.

                           The information contained in this Current Report, including the exhibit, shall not be incorporated by reference into any filing of ENCISION, INC., whether made before or after the date hereof, regardless of any general incorporation language in such filing.

Item 9.01           Financial Statements and Exhibits.

(d)     Exhibits.

99.1           Press Release issued by ENCISION, INC., January 25, 2005.



SIGNATURES

          Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

ENCISION, INC.

 


 

(Registrant)

 

 

 

 

Date January 25, 2006

 

 

/s/ Marcia K. McHaffie

 


 

Marcia K. McHaffie

 

Controller

 

Principal Accounting Officer



GRAPHIC 2 image001.jpg GRAPHIC begin 644 image001.jpg M_]C_X``02D9)1@`!`0$`8`!@``#__@`<4V]F='=AF)%MY"65A"@\D`YQG9@F,TO:5GS;?"2U)ISZ,XUFTI4,]&1 M!:FTBG4=M;=.DV95#BM926DX!/3`UGOOEG;.S;O\`.*8" M%`$$$':"(%YI4M0K2>D*D3UP"B-,S8F"\IG64@:N4YSMSNV0U1#[=_NLWW][ M_P!1<(%>.G2>@>X+HI5LLMN5)Y04Z2&VVTZRU8W[.B%SC=M[S:?]4GYH6],* MB;CD4YV"4R!_NKX0R6I9%MU&UJ=.3=*;=?>9"EK*UC6/^#`KVITTC[C=M[S: M?]4GYHV4S2=;M3G&Y0+F)9QU02@OMX22=PR"6EZ&:]8OYHGM;T>UA M=S32:)22W(H6DLJ+H2G&!N).=^8!ODDLT"+CN22MB1;G)Y#RVW'.#`:2"%4#2WDMC-;=S25T23LW(MO(0TYP:@ZD`YP# MS$],&(G^A[D[.][/@3%`@(>RFQ;K]^T.W9PR5'N9;C4@ZXEYM.LIIU&JK'2.D0)^B-&_W:1[0/FC-9 M=D2-*JQJ\M7&IU20I/!R^KJ`*YBTPTQ$-*G+5[N[?N,">2G,ZBTRDRB;2XD*WX(R,QW1@H7)^G= MU:\(CA<$ZN0H[SK9PXK"$'H)Y_?$-XM-%Y,=6NJ7D'%,2R/XAY.Q1SA*3V\\ M!A>-2U\\'+X^[JGXP`@I2:#,53[4G@99/E.J_;ICC^2Z?@OB0S4BYY>HN)EW MD<`^KR1G*5=A@Y"Y*N4^G@MTBG/3[FY3R1L/^YV?E!V4==>E4./L%AP^4V3G M5_S'3#>8RK,]9JK%#I+]2FDK4RP`5!L94W(>^"OT/Z0]3/\L[^!7N@:32I: MA8HU^4NYYU=+D$3;+ZVEE+CB``G`W[]^V,S-H5[N?M%L@5XZ=+6><:!2T5JNRE-<=4TB9:G918;?95K(40#@]AABXR[L])(]G1\(@YH<)?9%DD>SH^$/^C6XJI<,I/N528#R MF7$)00@)P"#G=$G1')+^J&2Y.3%4[F[X#$ST.?UV?[J/$(IER(0(KW0;O71JU4>$J5#0EJ;.5.2VY#O6.A7Z&%NT+]GK9?%*K"'7 M))"M0I6#PDL>K.\=7Y19X5[OL:1NADO(U9:H(&$/@;%=2QSCKWB!-0T^TDUM MMQMW2DRZRX'&USSJD+&Y0.L08N40JTZ?,TK2/(R$X@(?8?*5@*!'DGGBZP(X M?QD?TP.JZZ\L%]XE*`D#`)QV#F@'R[ZE M^!"D@C<1F$+2_P`FI3O8\*H?4@)2$CY.SO>SX$Q0(#C]4(ER6/0+CKRG6ZN)6H/CZ[+:DKU]4;]7>-D# MN)B6]..^S#XPJ520K5B7,]-RY0THK7P#XU5A2%'H/5TB.7&7=GI)'LZ/A`P= M1OV0T\3$MZ<=]F'QA>L,.4K20B19=)1PCS"SNUPD*WCM2#&?C+NSTDCV='P@ MMHXH52J%SIN"92D,-E;BG-896M0(P`-V\F("ZNEU17XB&E3EJ]W=OW&+?$0T MJI8*%R?IW=6O"(SW1++F:&[J#):(OTZ62):7:3-%O8$`X M:3CIZ8[:U2I_^"3+4HH;E0"5LI.JH\^\[QU0GB4?+_`!O[3.-7(CD>\:ZI%_ MTVOW%5'SLF2RD;DM#5`ATH:9@4AA4TXM;JQK$K.3MW?I`*C6FM+J9BHZN$G* M60-,*^AQ*5R=72H!22ML$$9!&%0T:0^0E M4_`CQIA8T-?RM6_Y&OZ>?[!S]HM<1;1BPY+7X9=Y.JXTRZA: EX-99.1 3 ei4583ex991.htm EXHIBIT 99.1

Exhibit 99.1

Encision Reports Third Fiscal Quarter Results

          BOULDER, Colo., Jan. 25 /PRNewswire-FirstCall/ -- Encision Inc. (Amex: ECI), a medical device company with patented surgical technology emerging as a standard of care in minimally-invasive surgery, reported its financial results for its third fiscal quarter ended December 31, 2005.

          Revenue for the third fiscal quarter ended December 31, 2005 of $2.117 million represented a one percent increase over prior fiscal year’s third fiscal quarter revenue of $2.098 million.  Net loss of $(154) thousand or $(.02) per share for the third fiscal quarter compares to a net loss of $(143) thousand or $(.02) per share for last year’s third fiscal quarter. Gross Profit Margin for the third quarter of fiscal year 2006 was 60 percent as compared to 56 percent for the third quarter of fiscal year 2005.

          Revenue for the nine months ended December 31, 2005 of $6.708 million represented a 13 percent increase over prior fiscal year’s nine months revenue of $5.927 million.  Net loss of $(297) thousand or $(.05) per share for this fiscal year’s nine months compares to a net loss of $(491) thousand or $(.08) per share for last fiscal year’s nine months.  Last year’s nine months included a one-time expense of approximately $201,000 (including attorney and arbitrator fees) for resolution of an arbitration dispute with one of Encision’s distributors.  Gross Profit Margin for the nine months of fiscal year 2006 was 60 percent as compared to 57 percent for the nine months of fiscal year 2005.

          “I am disappointed with our revenue growth for the quarter just ended. However, we made some changes to our sales force and distribution network during the third quarter and I believe that those changes may have been a short-term distraction to our revenue,” said Jack Serino, President and CEO of Encision.  “I trust that the changes we made will now enable us to continue our focus on renewed growth.”

          Encision Inc. designs and manufactures innovative surgical devices that allow surgeons to optimize technique and patient safety during a broad range of surgical procedures.  Based in Boulder, Colorado, the Company pioneered the development of patented AEM(R) Laparoscopic Instruments to improve electrosurgery and reduce the chance for patient injury in minimally invasive surgery.

          In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Company notes that statements in this press release and elsewhere that look forward in time, which include everything other than historical information, involve risks and uncertainties that may cause actual results to differ materially from those indicated by the forward-looking statements. Factors that could cause the Company’s actual results to differ materially include, among others, its ability to increase revenues through the Company’s distribution channels, insufficient quantity of new account conversions, insufficient cash to fund operations, difficulty in scaling up production to meet delivery obligations, delay in developing new products and receiving FDA approval for such new products and other factors discussed in the Company’s filings with the Securities and Exchange Commission.

 

CONTACT:

Marcia McHaffie, Encision Inc., 303-444-2600,

 

 

mmchaffie@encision.com




ENCISION INC.
Unaudited Condensed Balance Sheets
(In thousands)

 

 

December 31,
2005

 

March 31,
2005

 

 

 



 



 

Cash and Cash Equivalents

 

$

726

 

$

1,472

 

Current Assets

 

 

3,497

 

 

3,653

 

Total Assets

 

 

4,024

 

 

4,107

 

Current Liabilities

 

 

1,251

 

 

1,133

 

Shareholders’ Equity

 

 

2,773

 

 

2,974

 

Total Liabilities and Shareholders’ Equity

 

$

4,024

 

$

4,107

 

ENCISION INC.
Unaudited Condensed Statement of Operations
(In thousands, except per share amounts)

 

 

Three Months Ended
December 31,

 

 

 


 

 

 

2005

 

2004

 

 

 



 



 

Net Revenue

 

$

2,117

 

$

2,098

 

Cost of Revenue

 

 

852

 

 

914

 

Gross Profit

 

 

1,265

 

 

1,184

 

Operating Expenses

 

 

1,424

 

 

1,327

 

Operating (Loss)

 

 

(159

)

 

(143

)

Net (Loss)

 

$

(154

)

$

(143

)

Net (Loss) per Share

 

$

(.02

)

$

(.02

)

ENCISION INC.
Unaudited Condensed Statement of Operations
(In thousands, except per share amounts)

 

 

Nine Months Ended
December 31,

 

 

 


 

 

 

2005

 

2004

 

 

 



 



 

Net Revenue

 

$

6,708

 

$

5,927

 

Cost of Revenue

 

 

2,681

 

 

2,531

 

Gross Profit

 

 

4,027

 

 

3,396

 

Operating Expenses

 

 

4,332

 

 

3,887

 

Operating (Loss)

 

 

(305

)

 

(491

)

Net (Loss)

 

$

(297

)

$

(491

)

Net (Loss) per Share

 

$

(.05

)

$

(.08

)

SOURCE  Encision Inc.
           -0-                                                       01/25/2006
           /CONTACT:  Marcia McHaffie of Encision Inc., +1-303-444-2600, mmchaffie@encision.com   /
           /Web site:  http://www.encision.com /


-----END PRIVACY-ENHANCED MESSAGE-----