BASE TEN ANNOUNCES THIRD QUARTER RESULTS; Over 20% of Sales Derived from Medical Products.TRENTON, N.J.--(BUSINESS WIRE)--Sept. 12, 1995--Base Ten Systems, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :NMS See NetWare Management System. :BASEA BASEA Boston Area Solar Energy Association ) today announced that for the quarter ended July 31, 1995, the Company's net income was $75,000 or $.01 per share on revenues of $5.0 million. This compares with net income of $4,000 or $.01 per share on revenues of $4.0 million in the third quarter of 1994. The earnings per share for the current quarter were affected by a significant increase in capital, resulting from the exercise of the outstanding Purchase Warrants which expired on April 30, 1995. Mike Kranzler, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. stated, "The Medical Technology Division of the company achieved signficant progress in all three principal product areas: "PHARMASYST(TM) prospects have improved much faster than expected and new contracts have been signed. (PHARMASYST(TM) is a safety critical Manufacturing Execution System – Manufacturing execution system (MES) describes a set of integrated functions within a packaged software system or it can also describe the accumulated functionality within the production management infrastructure of a manufacturing or production company. .) As of this writing uPACS(TM) (Ultrasound Picture Archiving and Communications System In telecommunication, a communications system is a collection of individual communications networks, transmission systems, relay stations, tributary stations, and data terminal equipment (DTE) usually capable of interconnection and interoperation to form an integrated whole. ) design has been completed and both distributor and OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and agreements are currently being negotiated. In June we were informally advised that PRENVAL(TM) I is to be cleared by the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. as a Class 1 Tier 3 Medical Device and we are awaiting the final notification. All of these events support our overall strategy and advance the transition from development to the initiation of significant growth in Medical Technology revenues. "The Government Technology Market, the revenue which it produces, and the technology which it stimulates remains a component to our long term success. The transition, however, from Government to Medical has now accelerated. In fact, of the $5.0 million in revenue during the third quarter, in excess of 20%, over $1.0 million was derived from the sales of Medical products." -0-
Three Months Nine Months
Ended July 31, Ended July 31,
1995 1994 1995 1994
Revenue $5,001,000 $3,959,000 $13,135,000 $14,972,000 Net Earnings (Loss) $ 75,000 $ 4,000 $ (898,000) $ 108,000 Net Earnings (Loss) Per Share $ 0.01 $ 0.01 $ (0.13) $ 0.04 Fully Diluted Common Shares Outstanding 7,511,023 7,813,415 6,684,017 7,870,471 Base Ten Systems, Inc. is a diversified technology company concentrating on safely critical products in the fields of medical software, manufacturing execution systems and weapons control products. CONTACT: Base Ten Systems, Inc. Edward J. Klinsport (609) 586-7010 or Strategic Growth International Inc. Richard E. Cooper (516) 829-7111 |
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