Oculus Innovative Sciences, Inc. (OCLS) Updates Guidance: Faster Path to Positive EBITDAS as Result of Recent Partnership
9/20/2012 9:55:02 AM
PETALUMA, Calif., Sept. 20, 2012 (GLOBE NEWSWIRE) -- Oculus Innovative Sciences, Inc. (Nasdaq:OCLS), a commercial healthcare company that designs, produces and markets innovative, safe and effective healthcare products, today announced the finalization of transition of marketing and sales to More Pharma in Mexico, thus reducing Oculus' guidance for quarterly cash operating expenses 15% to the range of $2.5 million for the quarter beginning October 1, 2012. With the reduction of expenses effective in late August, operating expenses for the quarter ending September 30, 2012, will include some sales and marketing, severance and transition costs. The reduction of cash operating expenses shortens the company's projected timeline to achieve positive EBITDAS, which is anticipated once quarterly revenues are in the range of $3.7 million to $4 million.