Arrhythmia Research Technology, Inc Announces Results Second Quarter 2003.Business Editors/Health/Medical Writers FITCHBURG, Mass.--(BUSINESS WIRE)--Aug. 5, 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")(AMEX AMEX See: American Stock Exchange : HRT HRT abbr. hormone replacement therapy Hormone replacement therapy (HRT) Also called estrogen replacement therapy, this controversial treatment is used to relieve the discomforts of menopause. ) 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 $1,940,000 and net income of $285,000 for the second quarter of 2003 compared to total revenue of $1,832,000 and net income of $101,000 for the second quarter 2002. The net income for the six months ended 2003 is 129% higher than the same period in 2002.
Three Months Ending Six Months Ending
June 30, June 30,
2003 2002 2003 2002
Revenues 1,939,635 1,832,237 3,815,203 3,747,334
Net Income 284,981 101,440 564,336 246,461
Net Income per share
(basic and diluted) 0.11 0.03 0.21 0.08
Weighted Average Shares
Outstanding (basic) 2,600,213 2,907,124 2,643,785 2,912,464
The management stated that in addition to being on track to surpass fiscal 2002 results, the Company continues to explore all opportunities for expansion and growth. The increase in net income is attributable to both the growing diversity of product mix and a larger unit volume of sales. The unit volume of sales increased greater than ten percent in the first six months of 2003 versus the same period in 2002. In our competitive market, this substantial increase in unit volume does not directly result in an equal increase in sales dollars. 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. 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 Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. . More information about factors that potentially could affect the Company's financial results is included in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2003. |
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