Arrhythmia Research Technology, Inc Announces Results First Quarter 2003.Business Editors FITCHBURG, Mass.--(BUSINESS WIRE)--May 2, 2003 Arrhythmia arrhythmia (ārĭth`mēə), disturbance in the rate or rhythm of the heartbeat. Various arrhythmias can be symptoms of serious heart disorders; however, they are usually of no medical significance except in the presence of Research Technology, Inc. (the "Company") and it's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Micron Products, Inc. (Micron) reported total revenue of $1,876,000 and net income of $279,000 for the first quarter of 2003 compared to total revenue of $1,915,000 and net income of $145,000 for the first quarter 2002. The 2002 results included a one time negative cumulative effect of a change in accounting principle of $57,000 (net of tax) or 2 cents a share related to goodwill.
First Quarter
2003 2002
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Revenues 1,875,568 1,915,097
Net Income 279,355 145,021
Net Income per share (basic and diluted) .10 .05
Weighted Average Shares Outstanding (basic) 2,687,841 2,920,540
The management believes on an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. basis, the Company is on track to meet its goals for sales and earnings for fiscal 2003. The Company continues to explore all opportunities for expansion and growth. Remarking about the increase in first quarter gross margin James E. Rouse, President and Chief Executive Officer, stated that, "process improvements and changes resulting in the more efficient use of raw materials and chemicals had a significant effect on the total cost to manufacture." Micron Products, Inc. produces silver plated sensors and distributes metal snaps for manufacturers of disposable ECG ECG electrocardiogram. ECG abbr. 1. electrocardiogram 2. electrocardiograph ECG Also called an electrocardiogram, it records the electrical activity of the heart. electrodes. The Company's products include proprietary signal-averaging electrocardiographic electrocardiographic emanating from or pertaining to electrocardiography. electrocardiographic monitoring maintenance of a more or less continuous surveillance of a patient's cardiac status by means of electrocardiography. (SAECG SAECG Signal-Averaged Electrocardiogram ) software used in the detection and treatment of potentially lethal heart arrhythmias. Forward-looking statements made herein are based on current expectations of the Company that involve a number of risks and uncertainties and should not be considered as guarantees of future performance. These statements are made under the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The factors that could cause actual results to differ materially include: interruptions or cancellation of existing contracts, impact of competitive products and pricing, product demand and market acceptance, risks, the presence of competitors with greater financial resources than the Company, product development and commercialization risks and an inability to arrange additional debt or equity financing. |
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