Advanced NMR Systems reports first quarter results; Record backlog of $4.3 million will be recognized in 1995.WILMINGTON, Mass.--(BUSINESS WIRE)--May 12, 1995--Advanced NMR NMR: see magnetic resonance. Systems Inc.(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 :ANMR ANMR Acoustic Nuclear Magnetic Resonance ) today announced operating results for the first quarter ended March 31, 1995. Revenues for the 1995 first quarter amounted to $1.9 million as compared to revenues of $2.88 million recorded for the first quarter of 1994. Net income for the 1995 first quarter was $1,675 as compared to the $250,528, or $0.01 per share, in net income reported for the same period the year before. The 1995 quarter's net included a one time gain of $392,250 from the cancellation of options and a partial return of common stock issued to a public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most firm in 1993. The company noted that it had a record backlog of approximately $4.3 million at April 30, 1995. The backlog includes four InstaScan systems and two high field systems. ANMR expects to recognize from revenues these orders in 1995. The company further noted that first quarter results indicate a more consistent and systematic flow of orders as opposed to the sharp fluctuations in sales experienced in 1994. Advanced NMR Systems Inc. is a leader in the development and manufacture of sophisticated ultra-fast magnetic resonance imaging magnetic resonance imaging (MRI), noninvasive diagnostic technique that uses nuclear magnetic resonance to produce cross-sectional images of organs and other internal body structures. technology for clinical applications and advanced research. The company is developing other dedicated systems for emergency head trauma, functional neuro-imaging and orthopedic applications. On May 3, 1995, ANMR announced the signing of a definitive merger agreement with Medical Diagnostics Inc. (NASDAQ: MDIX MDIX Medium Dependent Interface, Crossover MDIX Media Dependent Interface Crossover ). Upon completion of the merger, MDI (1) (Multiple Document Interface) A Windows function that allows an application to display and lets the user work with more than one document at the same time. will operate as a wholly-owned subsidiary of Advanced NMR Systems. -0-
ADVANCED NMR SYSTEMS INC. AND SUBSIDIARY
Consolidated Statements of Operations
(unaudited)
For the three months ended March 31,
1995 1994
Revenues Systems sales $1,920,589 $2,868,292 Consulting -- 12,500 Total Revenues 1,920,589 2,880,792 Total operating expense 1,580,412 1,504,387 Income (loss) from operations (699,608) 54,510 Net income $ 1,675 $250,528 Earnings per share $0.00 $0.01 Weighted average number of shares outstanding 23,716,636 24,128,165 CONTACT: Advanced NMR Systems Charles Moche, 201/592-8838 or H.L. Lanzet Inc. Herbert L. Lanzet or Paul Holm holm n. Chiefly British An island in a river. [Middle English, from Old Norse h 212/687-0061 |
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