CSI Reports Second Quarter Results.Business Editors/Health Writers MILWAUKEE--(BUSINESS WIRE)--Feb. 9, 2001 CRITICARE SYSTEMS, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (NASDAQ-NMS: CXIM) today reported fiscal second quarter revenues of $6,564,123 with operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. of $133,543. This compares to revenues of $6,900,700 and an operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of $214,963 in the same quarter in fiscal 2000. The current quarter revenue was reduced by $324,000 for the retrieval of product, previously reserved for as an at-risk receivable. Also transacted this quarter was an equity investment of $4,000,000 from Oxford Bioscience bioscience /bio·sci·ence/ (-si´ens) the study of biology wherein all the applicable sciences (physics, chemistry, etc.) are applied. bi·o·sci·ence n. See life science. Partners, which is carried on the balance sheet. Revenue for six months ended December 31, 2000 was $12,794,000 compared to $13,504,037 for the same period last year. Operating income was $25,961 compared to an operating loss of $57,987 for the same period last year. Both the sales level and break even operating income reflect aggressive one-time product promotions. These involved a trade-in campaign to accelerate the introduction for the new POET(R) monitors, and the heavily discounted sale of remaining obsolete products to avoid a significant inventory write down. As the new POET(R) line of monitors is introduced, the company has adjusted its pricing and credit policies worldwide with the goal of increasing margins and reducing receivables. In addition, offshore manufacturing of certain products began this quarter, as scheduled, with full implementation over the last next nine months. As a result of this program, the company plans to move to a smaller facility by calendar year-end. Criticare Systems, Inc. (www.csiusa.com) designs, manufactures, and markets cost-effective patient monitoring systems and noninvasive non·in·va·sive adj. 1. Not penetrating the body, as by incision. Used especially of a diagnostic procedure. 2. Not invading healthy tissue. sensors
This press release contains 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. . Such statements refer to the company's beliefs and expectations. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those described. Such uncertainties include, but are not limited to, the timely completion of new products, regulatory approvals for new products, revenue from the company's new Poet(R) monitors, the risk of new and better technologies, risks relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc international markets, as well as general conditions and competition in the company's markets. Other risks are set forth in CSI's reports and documents filed from time to time with the Securities and Exchange Commission. |
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