American Electromedics announces fiscal 1997 first quarter financial results.AMHERST, N.H.--(BUSINESS WIRE)--Dec. 17, 1996--American Electromedics Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : AMER AMER American AMER Asociación Mexicana de Estaciones Radiodifusoras ) reported today financial results for its fiscal 1997 first quarter ended Oct. 26, 1996. Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the three months ended Oct. 26, 1996 were $540,000 compared with net sales of $664,000 for the same period a year ago. There was a net loss for the three months ended Oct. 26, 1996 of $160,000, or seven 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. , on 2,456,064 weighted average shares outstanding, versus net income of $22,000, or one cent per share, on 2,439,127 weighted average shares outstanding for the three month period ended Oct. 28, 1995. Per share and shares outstanding reflect a 1-for-5 reverse stock split effective Nov. 8, 1996. Commenting on the results, Noel A. Wren wren, small, plump perching songbird of the family Troglodytidae. There are about 60 wren species, and all except one are restricted to the New World. The plumage is usually brown or reddish above and white, gray, or buff, often streaked, below. , president and chief executive officer, said: "As previously stated, the expected decrease in first quarter sales resulted primarily from a temporary regulatory delay of a single product in Germany by the company's German medical products distribution arm, Rosch GmbII. We expect that this delay will be resolved shortly and should not affect our overall revenue and profit expectations for the full 1997 fiscal year. In addition to our core pediatric pediatric /pe·di·at·ric/ (pe?de-at´rik) pertaining to the health of children. pe·di·at·ric adj. Of or relating to pediatrics. products, we have been actively expanding our product offerings to include other synergistic and promising medical products which address large markets both in the U.S. and abroad, such as our recently announced partnership with BioFlo Systems to exclusively manufacture and market its patented Plasma Viscometer viscometer Instrument for measuring the viscosity (resistance to internal flow) of a fluid. In one type, the time taken for a given volume of fluid to flow through an opening is recorded. on a worldwide basis." American Electromedics Corp. develops, manufactures and markets diagnostic medical products for physician offices and clinical laboratories in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and worldwide. The company's products include Tympanometers which detect middle ear diseases and Audiometers which are used to screen for hearing loss in children. American Electromedics has expanded its product line to include the Plasma Viscometer, a device that detects the presence of inflammation and has diagnostic utility in rheumatic disease Rheumatic disease A type of disease involving inflammation of muscles, joints, and other tissues. Mentioned in: Temporal Arteritis , certain blood disorders blood disorders, n.pl hematologic dyscrasias that affect the component cells and plasma elements of the blood. They are generally divided into two broad groups: those in which an increase in bulk occurs (e.g. and persons with serious but undiagnosed illness. Except for historical information contained herein, the matters discussed in this press release are forward looking statements that involve risks and uncertainties. Among the factors that could cause actual results to differ materially include failure of revenue on new products to develop as estimated, regulatory delays, loss of existing customers, general downward trends in the company's industry and other risk factors detailed from time to time in the company's reports filed with the SEC. -0-
AMERICAN ELECTROMEDICS CORP.
Condensed Statements of Income
($000 except per share data)
(unaudited)
Three Months Ended
Oct. 26, Oct. 28,
1996 1995
Sales $ 540 $ 664
Net income (loss) $(160) $ 22
Earnings (loss) per
common and common
equivalent share(a) $(.07) $ .01
Weighted Average number
of common and common
equivalent shares
outstanding(a) 2,456,064 2,439,127
-0-
(a) Reflects a 1-for-5 Reverse Stock Split effective Nov. 8, 1996.
CONTACT: American Electromedics Corp. Michael T. Pieniazek, 603/880-6300 |
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