PSTX Patient Safety Technologies Inc. featured news, full reports, and detailed charts
Patient Safety Technologies Inc. (PSTX/PSTX.OB) Wrap Up:
Patient Safety Technologies, Inc., through its subsidiary, SurgiCount Medical, Inc., engages in the research and development of products and services focused primarily in the health care and medical products field. It develops and manufactures patient safety products and services. The company offers Safety-Sponge System, which reduces the number of retained sponges and towels in patients during surgical procedures, and allows for counting of surgical sponges. This system consists of a handheld scanner/imager/computer and bar coded surgical dressings. Patient Safety Technologies markets and sells its products in the United States. The company, formerly known as Franklin Capital Corporation, w...Founded in 1959
Patient Safety Technologies, Inc. (PSTX:OTC Bulletin Board Market)
LAST $1.85 USD
CHANGE TODAY +0.15 8.82%
VOLUME 62.1K
As of 3:59 PM 11/20/09 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of Patient Safety Technologies, Inc. (PSTX)
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OPEN
$1.92
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PREVIOUS CLOSE
$1.70
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DAY HIGH
$2.15
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DAY LOW
$1.75
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52 WEEK HIGH
10/23/09 - $2.25
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52 WEEK LOW
12/16/08 - $0.33
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MARKET CAP
43.4M
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AVERAGE VOLUME 3 mo
4.5K
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DILUTED EPS TTM
$-0.66
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SHARES OUTSTANDING
23.5M
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PSTX Does Not Pay Dividends
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P/E TTM
NM
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| K = Thousands M = Millions B = Billions | ||
PSTX Top Compensated Officers
Ms. Mary A. Lay
Interim Chief Financial Officer, Principal Ac...
Age: 52
Total Annual Compensation: $77.9K
Mr. William M. Adams
Consultant
Age: 53
Total Annual Compensation: $312.5K
Executives, Board Directors
Compensation as of Fiscal Year 2008.
Key developments for Patient Safety Technologies, Inc. (PSTX)
Patient Safety Technologies Signs Contract with Partners Healthcare to Implement the Safety-Sponge System at Brigham & Women's Hospital
09/10/2009
Patient Safety Technologies Inc. announced that it has signed a contract with Partners HealthCare System Inc. and will be implementing its Safety-Sponge(TM) System at Brigham & Women's Hospital.
Patient Safety Technologies Inc. Reports Earnings Results for the Second Quarter Ending June 30, 2009
08/17/2009
Patient Safety Technologies Inc. reported earnings results for the second quarter ending June 30, 2009. Net loss for the quarter was $3.93 million, down $2.40 million for the same quarter the previous year.
Patient Safety Technologies Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2009
08/6/2009
Patient Safety Technologies Inc. reported earnings results for the second quarter and six months ended June 30, 2009. Revenues for second quarter 2009 were $1.0 million, an increase of 85% over the $557,000 reported for second quarter 2008, and an increase over first quarter 2009 revenue of $936,000. Loss from operations before income taxes for second quarter 2009 was comprised of $1.8 million from direct operations plus $2.2 million in non-cash warrant expense, totaling $4.0 million. This compares to a loss before income taxes of $2.4 million for second quarter of 2008. Operating loss was $1.59 million against $2.18 million a year ago. Net loss was $3.9 million and net loss applicable to common shareholders was $3.95 million or $0.23 loss per basic and diluted share against net loss of $2.4 million and net loss applicable to common shareholders was $2.42 million or $0.19 loss per basic and diluted share a year ago. Revenues for the six months ended June 30, 2009 were $2.0 million, an increase of 86% over the $1.1 million for the six months ended June 30, 2008. Loss from operations before income taxes for the six months ended June 30, 2009 was $7.5 million compared to a loss of $4.0 million for the six months ended June 30, 2008. The increase in loss from operations was primarily the result of non-cash warrant expense. Operating loss was $3.22 million against $3.6 million a year ago. Net loss was $7.46 million and net loss applicable to common shareholders was $7.5 million or $0.44 loss per basic and diluted share against net loss of $3.97 million and net loss applicable to common shareholders was $4.01 million or $0.32 loss per basic and diluted share a year ago.
PSTX Competitors
| Company | Last | Change | |
| No competitor information is available for PSTX. | |||
| Market data is delayed at least 20 minutes. | |||
Industry Analysis
| Valuation | PSTX | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 8.6x |
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| Price/Book | NM | Not Meaningful |
| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | 10.7x |
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PSTX |
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PSTX transactions
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Private Placement
July 29, 2009 |
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More Recent News About Patient Safety Technologies Inc.
More news for PSTX
PATIENT SAFETY TECHNOLOGIES, INC Files SEC form 10-Q, Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our unaudited condensed consolidated interim financial statements and the related notes thereto appearing elsewhere in this Form 10-Q and our audited consolidated financial statements and related notes thereto and the description of our business appearing in the Form 10-K. This discussion contains forward-looking statements that involve risks and uncertainties. See "Cautionary Note Regarding Forward-Looking Statements." Known and unknown risks, uncertainties and other factors could cause our actual results to differ materially from those projected in any forward-looking statements. In evaluating these statements, you should specifically consider various factors, including, but not limited to, those set forth under the caption "Risk Factors" in the Form 10-K. Overview Patient Safety Technologies, Inc. is a Delaware corporation whose operations are conducted through its wholly-owned operating subsidiary, SurgiCount Medical, Inc., a California corporation. The use of the terms "we," "us," "our," and "our company" and other similar terms in this quarterly report on Form 10-Q means Patient Safety Technologies, Inc. and its consolidated subsidiary, SurgiCount Medical, Inc. unless the context requires otherwise. We focus on the development, marketing and sales of products and services in the medical patient safety markets. Our Safety-SpongeTM System is a patented system of bar-coded surgical sponges, SurgiCounter™ scanners, and software applications integrated to form a comprehensive counting and documentation system. This system is designed to reduce the number of retained surgical sponges unintentionally left inside of patients during surgical procedures by allowing faster and more accura...Click here to read the whole Article (external link)
Patient Safety Technologies Reports Third Quarter Results
TEMECULA, Calif., Nov. 17 /PRNewswire-FirstCall/ -- Patient Safety Technologies, Inc. (OTC Bulletin Board: PSTX - News) today announced third quarter 2009 results. "We are continuing to see strong year over year growth and healthy increases in our gross margins," stated Steven H. Kane, Chief Executive Officer of Patient Safety Technologies. "While third quarter revenues from sales of safety sponges were comparable with revenues in the second quarter, we expect that significantly increased marketing activity, coupled with the upcoming implementation of recently signed accounts, should have a significant impact on future revenues. During the last quarter, PSTX reached the major milestone of having had a cumulative total of 20 million sponges used in over 700,000 surgical procedures.""Additionally," said Kane, "our recently launched indemnification program, whereby hospitals using the Safety-Sponge(TM) System in conjunction with PSTX's proprietary data manager, 'Citadel(TM)' are insured for up to $1 million per retained foreign object ('RFO') event, has increased interest in and accelerated adoption of PSTX system." Kane added: "As hospitals continue to embrace the PSTX solution to RFOs, we are actively expanding our sales and clinical presence in the marketplace to keep pace with our growing customer base."Third Quarter ResultsRevenues for the third quarter 2009 were $978 thousand, an increase of 11% from the $880 thousand reported for third quarter 2008. Third quarter 2009 gross margin was 44%, an ...Click here to read the whole Article (external link)
PATIENT SAFETY TECHNOLOGIES, INC Financials
Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback Quotes delayed, except where indicated otherwise.Delay times are 15 mins for NASDAQ, 20 mins for NYSE and Amex. See also delay times for other exchanges.Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. Real-...Click here to read the whole Article (external link)
PATIENT SAFETY TECHNOLOGIES, INC Files SEC form 10-Q, Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our financial statements and the related notes thereto contained elsewhere in this Form 10-Q and the description of our business appearing in our Annual report on Form 10-K and amendments thereto. This discussion contains forward-looking statements that involve risks and uncertainties. All statements regarding future events, our future financial performance and operating results, our business strategy and our financing plans are forward-looking statements. In many cases, you can identify forward-looking statements by terminology, such as "may," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of such terms and other comparable terminology. These statements are only predictions. Known and unknown risks, uncertainties and other factors could cause our actual results to differ materially from those projected in any forward-looking statements. In evaluating these statements, you should specifically consider various factors, including, but not limited to, the risk factors set forth in Part I, Item 1A of our Form 10-K and elsewhere in this report on Form 10-Q. The following "Overview" section is a brief summary of the significant issues addressed in Management's Discussion and Analysis of Financial Condition and Results of Operations ("MD&A"). Investors should read the relevant sections of the MD&A for a complete discussion of the issues summarized below. The entire MD&A should be read in conjunction with Item 1 of Part I of this report, "Financial Statements." Overview Patient Safety Technologies, Inc. ("PST&q...Click here to read the whole Article (external link)
PATIENT SAFETY TECHNOLOGIES, INC Files SEC form 8-K, Other Events, Financial Statements and Exhibits
Show all filings for PATIENT SAFETY TECHNOLOGIES, INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for PATIENT SAFETY TECHNOLOGIES, INC 3-Aug-2009Other Events, Financial Statements and Exhibits Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "a...Click here to read the whole Article (external link)
PATIENT SAFETY TECHNOLOGIES, INC Files SEC form 10-K/A, Annual Report
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations. The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our financial statements and the related notes thereto contained elsewhere in this Form 10-K. This discussion contains forward-looking statements that involve risks and uncertainties. All statements regarding future events, our future financial performance and operating results, our business strategy and our financing plans are forward-looking statements. In many cases, you can identify forward-looking statements by terminology, such as "may," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of such terms and other comparable terminology. These statements are only predictions. Known and unknown risks, uncertainties and other factors could cause our actual results to differ materially from those projected in any forward-looking statements. In evaluating these statements, you should specifically consider various factors, including, but not limited to, those set forth under "Item 1A. Risk Factors" and elsewhere in this report on Form 10-K. The following "Overview" section is a brief summary of the significant issues addressed in Management's Discussion and Analysis of Financial Condition and Results of Operations ("MD&A"). Investors should read the relevant sections of the MD&A for a complete discussion of the issues summarized below. The entire MD&A should be read in conjunction with Item 6. Selected Financial Data and Item 8. Financial Statements and Supplementary Data appearing elsewhere in this Form 10-K. Overview Patient Safety Technologies, Inc. is a Delaware corporation. The Company's operations are c...Click here to read the whole Article (external link)
PATIENT SAFETY TECHNOLOGIES, INC Files SEC form 8-K, Change in Directors or Principal Officers
Show all filings for PATIENT SAFETY TECHNOLOGIES, INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for PATIENT SAFETY TECHNOLOGIES, INC 26-Jun-2009Change in Directors or Principal Officers Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for ...Click here to read the whole Article (external link)
PATIENT SAFETY TECHNOLOGIES, INC Files SEC form 10-Q, Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our financial statements and the related notes thereto contained elsewhere in this Form 10-Q and the description of our business appearing in our Form 10-K. This discussion contains forward-looking statements that involve risks and uncertainties. All statements regarding future events, our future financial performance and operating results, our business strategy and our financing plans are forward-looking statements. In many cases, you can identify forward-looking statements by terminology, such as "may," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of such terms and other comparable terminology. These statements are only predictions. Known and unknown risks, uncertainties and other factors could cause our actual results to differ materially from those projected in any forward-looking statements. In evaluating these statements, you should specifically consider various factors, including, but not limited to, the risk factors set forth in Part I, Item 1A.of our Form 10-K and elsewhere in this report on Form 10-Q. The following "Overview" section is a brief summary of the significant issues addressed in Management's Discussion and Analysis of Financial Condition and Results of Operations ("MD&A"). Investors should read the relevant sections of the MD&A for a complete discussion of the issues summarized below. The entire MD&A should be read in conjunction with Item 1 of Part I of this report, "Financial Statements." Overview Patient Safety Technologies, Inc. ("PST" or the "Company", "w...Click here to read the whole Article (external link)
PATIENT SAFETY TECHNOLOGIES, INC Files SEC form 8-K, Change in Directors or Principal Officers
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. (b) Effective May 7, 2009, David Bruce, has resigned as the President and Chief Executive Officer of Patient Safety Technologies, Inc. (the "Company"). Mr. Bruce also resigned from the Board of Directors, effective immediately. (c) On May 7, 2009, the Company's Board of Directors appointed Steven Kane as its President and Chief Executive Officer, effective immediately. Mr. Kane currently serves as Chairman of the Company's Board of Directors. In connection with this appointment, on May 7, 2009 the Company entered into an employment agreement with Mr. Kane (the "Agreement"). The Agreement has the following terms: Mr. Kane will receive an initial annual base salary of $325,000 and he is eligible to receive an incentive bonus each fiscal year in the amount of not less than 25% of his annual base salary for such year, with the payment of such bonus based on Mr. Kane's achievement of performance objectives established by the Company's Board of Directors each fiscal year. The Agreement also provides for certain severance arrangements for Mr. Kane, in the event that Mr. Kane's employment is terminated without cause the Company is required to pay Mr. Kane (1) all accrued but unpaid compensation; (2) severance payments based on his annual base salary for a period of twelve months; (3) a pro-rated bonus for the year in which termination occurred; and (4) payment of, or reimbursement for, the continuation of his health and welfare benefits coverage pursuant to COBRA for a twelve-month period following such termination or resignation date. Pursuant to the Agreement, the Company will also grant Mr. Kane incentive stock options to purchase 2,000,000 shares of the Company' common stock. The exercise price of the options will be the average trading price of the Company's common stock, on the effective date of the Agreement. Upon the six-month ...Click here to read the whole Article (external link)
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