Cardiac Science Announces First Quarter Results.IRVINE, Calif.--(BW HealthWire)--May 18, 1998--Cardiac Science Inc. (OTC/BB:DFIB), the developer of the recent FDA-cleared fully automatic hospital bedside defibrillator-monitor, reported revenues of $446,712 and a net loss of $711,506, or 14 cents a share, for the three months and year to date ended March 31, 1998 compared with no revenues and a net loss of $168,475, or 5 cents a share for the three months and year to date ended March 31, 1997. "Revenue in the quarter is attributed to strong international demand for our subsidiary's Holter ECG ECG electrocardiogram. ECG abbr. 1. electrocardiogram 2. electrocardiograph ECG Also called an electrocardiogram, it records the electrical activity of the heart. products. We are pleased this business continues its pattern of growth, while we devote substantial financial and human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. to completing the commercial model of the Powerheart(R) automatic defibrillator-monitor," 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. The Powerheart(R) Automatic External Cardioverter 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 , a non-invasive bedside defibrillator used to continuously monitor hospitalized cardiac patients for life-threatening heart rhythms 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 , delivers 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. shocks within seconds and without human intervention should a patient suffer 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. . Cardiac Science is committed to developing propriety devices that increase the survival rates of cardiac arrest victims. The Powerheart AECD AECD Automatic external cardioverter-defibrillator A device that monitors cardiac rhythm and automatically defibrillates (R), in controlled multicenter clinical studies, demonstrated a sensitivity of 100 percent (correctly identifying shockable episodes), a specificity of 99.4 percent (not allowing a non-shockable rhythm to be shocked), first shock efficacy of 96.2 percent with energy levels as low as 50 joules and an average response time of 21 seconds, indicating that it is an accurate and reliable tool in helping to save people from in-hospital cardiac arrest. Cardiac Science, through its subsidiary Diagnostic Monitoring, manufactures Ambulatory Holter ECG recorders and PC-based Holter systems and distributes these products in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and in over 40 countries. For more information, visit the company's Web sites at www.cardiacscience.com and www.diagnosticmonitoring.com. -0-
Cardiac Science Inc.
Consolidated Condensed Summary of Operations
3 Months Ended March 31
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1998 1997
-------------- --------------
Total Revenues $ 446,712 $ ---
Net Loss $ (711,506) $ (168,475)
Basic and diluted loss per share $ (0.14) $ (0.05)
Number of shares used in the
computation of loss per share 4,984,560 3,424,561
This news 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. , including but not limited to those regarding Cardiac Science's ability to improve patient-care, increase survival rates for in-hospital cardiac arrest victims, and reduce patient care costs. Actual results could vary materially from the description contained herein due to many factors, including hospital operations, market and clinical users' acceptance of new and existing products, impact of competitive products and pricing, changing market conditions, and risks detailed in the company's Form 10-KSB for the year ending Dec. 31, 1997 and other documents filed with the Securities and Exchange Commission. The company does not undertake any obligation to update the information contained herein, which speaks only as of this date. -0- The Powerheart(R) and AECD(R) are registered trademarks of Cardiac Science Inc. CONTACT: Cardiac Science Inc., Irvine Brett L. Scott, 949/587-0357 |
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