Printer Friendly
The Free Library
19,595,263 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Cardiac Science Announces 1999 Year End Results.


Business Editors/Health & Medical Writers

BIOWIRE2K

IRVINE, Calif.--(BW HealthWire)--March 30, 2000

Cardiac Science Inc. (OTC Bulletin Board OTC Bulletin Board

An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system.
:DFIB), the developer of Powerheart(R) ECD ECD Early Childhood Development
ECD Electron Capture Detector
ECD Energy Citations Database
ECD Executive Creative Director (advertising)
ECD Ethyl Cysteinate Dimer
ECD Electron Capture Dissociation
ECD Electronic Civil Disobedience
(TM), the only hospital monitor that provides life-saving defibrillation Defibrillation Definition

Defibrillation is a process in which an electronic device sends an electric shock to the heart to stop an extremely rapid, irregular heartbeat, and restore the normal heart rhythm.
 within seconds and without the aid of hospital staff, reported revenues of $102,900 and a net loss of $7,719,759, or 85 cents a share, for the year ended December 31, 1999 as compared to no revenues and a net loss of $4,438,734, or 81 cents a share for the year ended December 31, 1998. R&D expenses relating to relating to relate prepconcernant

relating to relate prepbezüglich +gen, mit Bezug auf +acc 
 the development of the commercial version of the Powerheart defibrillator-monitor totaled approximately $4,000,000 or 52 percent of the loss from continuing operations continuing operations

Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the
 for the year ending December 31, 1999.

For the quarter ended December 31, 1999, the company reported revenues of $102,900 and a net loss of $2,890,867, or 25 cents a share, as compared to no revenues and a net loss of $1,840,887, or 31 cents a share for the quarter ended December 31, 1998.

"Through the strong financial support of our stockholders and the collective efforts of our tenacious te·na·cious
adj.
1. Clinging to another object or surface; adhesive.

2. Holding together firmly; cohesive.



tenacious

viscid; adhesive.
 employees, Cardiac Science achieved its objectives in 1999. We completed the development of our initial product, received U.S and European regulatory clearances and made our first commercial shipment of Powerhearts. We also expanded our strategic partnership with Medtronic Physio-Control and established a strong independent distribution network, which now encompasses over 40 countries worldwide," said Raymond W. Cohen cohen
 or kohen

(Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male.
, president and chief executive officer. "Cardiac Science is a company with clear vision and a focused business plan. Our near term strategy is to actively encourage the marketplace to adopt the Powerheart, grow revenues and drive utilization of our proprietary disposable defibrillation electrodes. To realize the full potential of our vision, we are investing significant resources to market the Powerheart and to develop new embodiments of fully automatic defibrillation products which utilize our core technology. To that end, we will continue to pursue discussions with manufacturers interested in integrating and licensing our proprietary RHYTHMx ECD(TM) cardiac arrest cardiac arrest
n.
Abbr. CA A sudden cessation of cardiac function, resulting in loss of effective circulation.


Cardiac arrest
A condition in which the heart stops functioning.
 detection and defibrillation module into their patient monitoring systems."

About Cardiac Science

Cardiac Science develops and markets life-saving external cardiac defibrillator defibrillator, device that delivers an electrical shock to the heart in order to stop certain forms of rapid heart rhythm disturbances (arrhythmias). The shock changes a fibrillation to an organized rhythm or changes a very rapid and ineffective cardiac rhythm to a  devices and proprietary tachyarrhythmia tachyarrhythmia /tachy·ar·rhyth·mia/ (tak?e-ah-rith´me-ah) any disturbance of the heart rhythm in which the heart rate is abnormally increased.

tach·y·ar·rhyth·mi·a
n.
 detection software that monitor and automatically treat cardiac arrest patients. Cardiac Science began shipments of its initial commercial product, the Powerheart, on Dec. 31, 1999.

Powerheart, a bedside defibrillator, continuously monitors in-hospital patients at risk of sudden cardiac arrest, instantly detects the onset of a life-threatening heart rhythm Noun 1. heart rhythm - the rhythm of a beating heart
cardiac rhythm

regular recurrence, rhythm - recurring at regular intervals

atrioventricular nodal rhythm, nodal rhythm - the normal cardiac rhythm when the heart is controlled by the
, and, when appropriate, automatically delivers defibrillation shocks within seconds and without human intervention to re-establish the heart's normal rhythm. RHYTHMx ECD(TM) detection and defibrillation technology, a primary component of the Powerheart, has multiple applications, including use in existing standard bedside patient monitors widely used in hospitals throughout the world and in external defibrillators.

Cardiac Science has a strategic partnership with Medtronic Physio-Control, a division of Medtronic, Inc., the worldwide market leader in external defibrillator products, to distribute the Powerheart in the U.S., Canada, and nine European countries. Cardiac Science's global network consists of prominent distributors in 41 countries encompassing Asia, the Middle East, Europe, South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere.  and North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . For more information, visit www.cardiacscience.com. Cardiac Science Inc. Consolidated Condensed con·dense  
v. con·densed, con·dens·ing, con·dens·es

v.tr.
1. To reduce the volume or compass of.

2. To make more concise; abridge or shorten.

3. Physics
a.
 Summary of Operations


                                      Three Months Ended December 31,
                                     ---------------------------------
                                           1999             1998
                                     -------------      --------------
Net loss from continuing operations  $ (2,890,867)      $ (1,278,167)
Net loss from discontinued
 operations                          $      ---         $   (562,720)
Net loss                             $ (2,890,867)      $ (1,840,887)
Net loss per share from continuing
 operations                          $      (0.25)      $      (0.22)
Net loss per share from discontinued
 operations                          $      ---         $       (0.9)
Net loss per share                   $      (0.25)      $      (0.31)
Weighted average number of shares
 used in the computation of net loss
 per share                             11,645,742          6,003,434


                                            Year Ended December 31,
                                     ---------------------------------
                                           1999             1998
                                     -------------      --------------
Net loss from continuing operations  $ (7,719,759)       $(3,787,704)
Net loss from discontinued
 operations                          $     ---           $  (651,030)
Net loss                             $ (7,719,759)       $(4,438,734)
Net loss per share from continuing
 operations                          $      (0.85)       $     (0.69)
Net loss per share from discontinued
 operations                          $     ---           $     (0.12)
Net loss per share                   $      (0.85)       $     (0.81)
Weighted average number of shares
 used in the computation of net loss
 per share                              9,112,564          5,459,793


This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. Cardiac Science cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements. Such forward looking statements include, but are not limited to the Powerheart's life-saving potential and the Company's ability to: improve patient-care; increase survival rates for in-hospital cardiac arrest victims; decrease patient recovery time; lessen patient debilitation debilitation

being in a state of debility.
 and reduce patient-care costs. Other factors include, but are not limited to: hospital operations; market and clinical users' acceptance of new and existing products; impact of competitive products and pricing; and changing market conditions. Information on these and other factors is detailed in the Company's Form 10-K Form 10-K

A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.


Form 10-K

See 10-K.
 for the year ending December 31, 1999 and other documents filed with the Securities and Exchange Commission. The Powerheart, ECD and RHYTHMx ECD are trademarks of Cardiac Science Inc.
COPYRIGHT 2000 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2000, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1USA
Date:Mar 30, 2000
Words:878
Previous Article:Register.com Announces Strategic Marketing Agreement With Stamps.com to Expand Online B2B Offerings.
Next Article:Digi DataFire RAS Communications Adapters Named Product of the Year by Communications Solutions Magazine.
Topics:



Related Articles
Cardiac Science Announces First Quarter 2000 Results; $625,000 of Powerheart Hospital Bedside Defibrillator-Monitors Sold.
Cardiac Science Revenue Increases by 48 Percent; Second Quarter Revenue Totals $926,000.
Cardiac Science to List On Nasdaq National Market Under Symbol `'DFIB''.
Cardiac Science Announces Record Revenue of $1.2 Million in Third Quarter.
Cardiac Science Announces Third Quarter 2000 Results; Revenue Increases 31 Percent Over Second Quarter to $1,209,000.
AUSTRALIA APPROVES CARDIAC SCIENCES' POWERHEART.
Cardiac Science Announces 2000 Year- End Results; Record Revenue of $4.2 Million and Fourth Consecutive Quarter of Revenue Growth.
Plasma elimination of cardiac troponin i in end-stage renal disease.

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles