American Electromedics announces results of operations for the fourth quarter and fiscal year ended July 29, 1995.AMHERST, N.H.--(BUSINESS WIRE)--Oct. 10, 1995--American Electromedics Corp. (OTC-AECO) announced today that 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 fourth quarter and year ended July 29, 1995 were $733,000 and $2,443,000, respectively, compared to $282,000 and $1,965,000, respectively for the same periods in 1994. The 160 percent increase in net sales is a result of the company's aggressive marketing efforts for its Pilot Audiometer au·di·om·e·ter n. An electrical instrument for measuring the threshold of hearing for pure tones of normally audible frequencies generally varying from 200 to 8000 hertz and recorded in decibels. , along with its current line of tympanometry tympanometry /tym·pa·nom·e·try/ (tim?pah-nom´e-tre) indirect measurement of the compliance (mobility) and impedance of the tympanic membrane and ossicles of the middle ear. products. Net income for the three-month period ended July 29,1995 was $16,000, or $.00 per share, compared to a net loss of $69,000, or $.00 per share, for the same period in 1994. As expected, net income for the fourth quarter of 1995 was minimal as a result of $140,000 of internally funded research and development costs associated with a new audiometric au·di·om·e·ter n. An instrument for measuring hearing activity for pure tones of normally audible frequencies. Also called sonometer. au product. The company plans to introduce this new product in the first quarter of 1996. Net income for fiscal 1995 was $172,000, or $.02 per share, compared to $57,000, or $.01 per share, for fiscal 1994. The overall increase in profits in 1995 was primarily the result of a 24 percent increase in net sales along with a more favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. sales mix sales mix See product mix. due to the successful introduction of the new Pilot Audiometer. 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 of American Electromedics Corp. said, "We have just completed a very successful year which resulted in significant increases in sales and profits. The future is bright as we pursue an aggressive growth strategy and introduce new products into the marketplace that provide solutions to current unmet un·met adj. Not satisfied or fulfilled: unmet demands. healthcare needs." American Electromedics Corporation currently manufactures and sells Tympanometers which detect middle ear diseases and Audiometers which are used in auditory auditory /au·di·to·ry/ (aw´di-tor?e) 1. aural or otic; pertaining to the ear. 2. pertaining to hearing. au·di·to·ry adj. screening. In 1995 the company began marketing the Pilot Audiometers which accurately and easily screens pre-school children for hearing loss. Because children enjoy the "game-like" quality of this system, the test is non-threatening and fun. The company's goal is to create, acquire and develop products and services which effectively eliminate anxiety of children in the medical setting.
American Electromedics Corp.
Condensed Financial Statements
For the Fourth Quarter and Fiscal Years Ended
July 30, 1994 and July 29, 1995
(000s)
Fourth Quarter Fiscal Year Ended
1994 1995 1994 1995
Net sales $282 $733 $1,965 $2,443 Gross profit 85 348 716 1,072 Net income (loss) (69) 16 57 172 Net income per share $.00 $.00 $ .01 $ .02 CONTACT: American Electromedics Corp., Amherst Michael T. Pieniazek, 603/880-6300 |
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