Colorado MEDtech Inc. announces record fourth quarter results - supplemental release.BOULDER Boulder, city, United States Boulder, city (1990 pop. 83,312), seat of Boulder co., N central Colo.; inc. 1871. A Rocky Mountain resort and a suburb of Denver, it is the seat of the Univ. of Colorado (1876). , Colo.--(HealthWire)--Sept. 16, 1996--On Sept. 10, 1996, Colorado MEDtech 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 :CMED CMED Coordinated Medical Emergency Direction CMED Central Massachusetts Emergency Dispatch ), a Boulder-based custom medical products and services company, announced record earnings for the year ended June 30, 1996. That announcement did not break out the company's record results in the fourth quarter ended June 30, 1996. Inquiries and requests since the September 10th announcement regarding fourth quarter information indicated a need for this supplemental announcement of fourth quarter and year end results. Net income in the fourth quarter increased to $575,885 compared to $311,507 in the fourth quarter last year, an increase of 85%, and earnings per share increased to 6 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. after an approximate 50% increase in the number of fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. equivalent shares outstanding. This is the highest quarterly profit ever reported by the company. Net income for the year increased to $1.6 million compared to $1.0 million for fiscal 1995, an increase of 54%, on sales of $19.1 million compared to sales of $19.8 million in the prior year. Earnings per share rose to 17 cents per share, compared to 15 cents in the prior year with an approximate 50% increase in weighted average common shares outstanding, on a fully-diluted basis. RELA Inc. is an integrated, custom product development and manufacturing service company specializing in the design, development and manufacture of electronic and electro-mechanical medical products and software systems. Its parent, Colorado MEDtech Inc., develops, manufactures, markets and services computerized computerized adapted for analysis, storage and retrieval on a computer. computerized axial tomography see computed tomography. diagnostic and testing instrumentation instrumentation, in music: see orchestra and orchestration. instrumentation In technology, the development and use of precise measuring, analysis, and control equipment. , primarily in the respiratory markets. -0-
Colorado MEDtech Inc.
Earnings Recap
Three Months Ended Fiscal Year Ended
June 30 June 30
1996 1995 1996 1995
(unaudited)
Sales & service $ 5,168,625 $ 5,451,774 $19,130,979 $19,820,512 Net income $ 575,885 $ 311,507 $ 1,596,602 $ 1,036,611 Net income per common and common equivalent share Primary $ .06 $ .04 $ .21 $ .15 Fully Diluted $ .06 $ .04 $ .17 $ .15 Weighted average common and common equivalent shares outstanding Primary 10,918,084 6,957,134 7,766,805 6,948,301 Fully diluted 10,918,084 7,124,587 10,692,702 7,124,587 CONTACT: Colorado MEDtech Inc., Boulder John V. Atanasoff or Bruce Bruce, Scottish royal family descended from an 11th-century Norman duke, Robert de Brus. He aided William I in his conquest of England (1066) and was given lands in England. L. Arfmann, 303/530-2660 bla@rela.uucp.netcom.com |
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