Arrhythmia Research Technology Inc. Announces 2001 First Quarter Results.Business Editors & Health/Medical Writers AUSTIN, Texas--(BUSINESS WIRE)--May 15, 2001 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. (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. ) (ART) reported first quarter revenue of $1,754,000 and net income of $34,000 for the first quarter of the year 2001 compared to revenue of $2,544,000 in revenue and a net income of $102,000 for the first quarter 2000.
First Quarter
2001 2000
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Revenue 1,753,974 2,543,826
Net Income 34,052 101,731
Net Income per share .01 .03
Weighted Average Shares 3,233,023 3,465,921
Revenues for the first quarter of 2001 were below the first quarter of 2000 as sales of Micron's ECG ECG electrocardiogram. ECG abbr. 1. electrocardiogram 2. electrocardiograph ECG Also called an electrocardiogram, it records the electrical activity of the heart. sensors were influenced by inventory balancing programs instituted by new management and ownership changes for two of its major customers. Sales of ECG sensors are expected to improve in the next quarter of 2001 and total sensor sales for the year 2001 should exceed those of 2000. Recent investments in technological improvements for Micron's new sensors and expanded sales programs are projected to have an impact in late 2001 or early 2002. Sales activity for ART's SAECG SAECG Signal-Averaged Electrocardiogram technology is also not expected to be significant until late 2001 when more of the products have been converted to Windows-based systems. Income from operations is also expected to improve throughout 2001 due to lower processing costs at Micron resulting from large expenditures in equipment and tooling, cost savings from the relocation of ART's Austin offices, and non-repetitive severances and legal costs incurred in 2000. ART is engaged in the sales and licensing of computerized medical instruments, which acquire data and analyze electrical impulses of the heart to detect and aid in the treatment of potentially lethal arrhythmias. ART's subsidiary, Micron Products Inc., is a manufacturer of silver-plated sensor elements and a distributor of metal snaps used in the production of disposable electrodes, which make up a key component of ECG diagnostic and monitoring instruments. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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 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. . |
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