CLIX Announces Five Months Earnings of $171,487 With Expected Annualized Revenues of Over $5 Million in its Core Business.WAYNE, Pa.--(BW HealthWire)--June 22, 1998--Cardiovascular Laboratories Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CLIX) announced its unaudited financial results for the five months ended 5-31-98. CLIX's net income for the five month period was $171,487, or $.023 per share. CLIX Chairman, Timothy W. Cunningham, stated: "Our core business is on target to reach 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. revenues of over $5 million during 1998, generating estimated annualized net income of $550,000, which would amount to $.073 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . Additionally, management expects to be able to open several additional diagnostic imaging centers before the end of the year, bringing revenues and earnings in the core business even higher." CLIX currently operates nine fixed site diagnostic imaging centers in Pennsylvania, New Jersey and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , and will open its tenth center before the end of June. These imaging centers focus on diagnostic vascular ultrasound, and CLIX is responsible for operating each site on a turnkey basis. The imaging labs are usually located within hospitals and physician offices. The company has another division, CLIX Information Services See Information Systems. , that focuses on medical records management. Additionally, CLIX expects to acquire at least one medical billing and collection company before the end of 1998. 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. for Forward-Looking Statements: Except for historical information contained herein, the statements in the Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties which may cause the company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the company's domestic and international operations, and the company's ability to expand its operations. CONTACT: Investor Relations Investor relations The process by which the corporation communicates with its investors. : Venture Capital & Marketing Consultants Inc. 888/302-9994 email: nsi@worldramp.net |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion