Oryx Announces Q3 Results

Oryx Technology Corp. (Fremont, CA) recently announced a net loss attributable to common stock of $391,000, or $0.03 per share, on revenues of $415,000 for the third quarter ended November 30, 1999. This compares to a net loss attributable to common stock of $187,000, or $0.01 per share, on revenues from continuing operations of $148,000 for the third quarter of the previous year.For the nine months ended November 30, 1999, Oryx reported a net loss attributable to common stock of $1,554,000, or $0.10 per share, on revenues from continuing operations of $680,000. This compares to a net loss attributable to common stock of $479,000, or $0.04 per share, on revenues from continuing operations of $530,000 for the same nine-month period of the previous year."The third quarter results reflect costs of our development activities which have since been transferred to Cooper Electronic Technologies, the new CooperBussmann Technologies business unit," said Phil Micciche, president and CEO of Oryx. "In line with our strategic plan, we are also in discussion with Cooper Electronics Technologies to transfer the SurgX liquid manufacturing to them. It is my expectation that the technical and financial resources of the newly formed Cooper Electronic Technologies will accelerate the development of the SurgX technology."