ADAC announces preliminary first quarter results.MILPITAS, Calif.--(BUSINESS WIRE)--Jan. 10, 1995--ADAC Laboratories (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ADAC ADAC Allgemeiner Deutscher Automobil Club (German automobile club) ADAC Aboriginal Drug and Alcohol Council ADAC Art Directors and Artists Club (Sacramento, California) ADAC Alcohol and Drug Abuse Council ), a leading producer of diagnostic imaging and healthcare information systems, Tuesday announced preliminary revenues and earnings per share for its first fiscal quarter ended Jan. 2, 1995. The company stated that it expects to report complete financial information by the end of January. For the three month period ended Jan. 2, 1995, revenues are expected to be approximately $44 million compared to $46.5 million in the first quarter of fiscal 1994. Earnings per share are expected to be approximately 15 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . This compares to 23 cents per share in the first quarter of fiscal 1994, as restated to reflect a tax rate of 35%. Bookings for the quarter were approximately $44 million compared to $48 million in the first quarter of fiscal 1994. In making this announcement, David L. Lowe, president and chief executive officer, stated, "We are pleased to have met our expectations for the first quarter. Our financial results were on target, our nuclear medicine market share increased again, and we introduced three new products in December. The introduction of these new products, the EPIC digital detector, VANTAGE attenuation Loss of signal power in a transmission. Attenuation The reduction in level of a transmitted quantity as a function of a parameter, usually distance. It is applied mainly to acoustic or electromagnetic waves and is expressed as the ratio of power densities. correction and MacroVision programming tool, were received enthusiastically by the industry. We fully expect that these products will continue to increase our market share globally." Lowe continued, "In our Information Systems Division, we now have 10 orders from prestigious institutions for our QuadRIS radiology information system A Radiology Information System (RIS) is used by radiology departments to store, manipulate and distribute patient radiological data and imagery. The system generally consists of patient tracking and scheduling, result reporting and image tracking capabilities. . With regard to Community Health Computing Corp. (NASDAQ:CHCC CHCC Cooperative Health Care Clinic CHCC Coalition for Healthier Cities and Communities CHCC Chattahoochee Hills County Club (Georgia) ) of Houston, our negotiations are progressing favorably to acquire portions of the company, subject to approval by the U.S. Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. . The completion of this transaction represents another step forward in our strategic plan for the evolving clinical information systems market. CHCC has a large installed base of ancillary systems, especially in the Laboratory Information and Radiology Information Systems segments. CHCC is also developing a new, open architecture laboratory information system product, LabStat." ADAC Laboratories is recognized as the world leader in nuclear medicine and the leading supplier of radiology information systems in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . The company is celebrating its 25th year of health care innovation. ADAC was honored in 1994 as a Top Business 100 California Company by major California newspapers. The company headquarters are in Milpitas. CONTACT: ADAC Laboratories J. Embry, 310/355-0761 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion