Colorado MEDtech announces second quarter and six-month results with improved profits.BOULDER, Colo.--(HealthWire)--Feb. 13, 1995--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 medical products/service company, Monday announced results for its second quarter and six-month period ended Dec. 31, 1994. Net income in the second quarter increased to $250,578 compared to $185,397 in the second quarter last year and earnings per share remained at 4 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 a 33 percent increase in the number of equivalent shares outstanding. Sales in the second quarter increased 7 percent over the first quarter of fiscal 1995 although they were lower than the same quarter last year ($4.6 million compared to $5.1 million in the second quarter last year). Net income through the six-months ended Dec. 31, 1994, increased to $447,671 compared to $310,416 for the same period last year on sales of $8.9 million compared to $10.2 million in the prior year. Earnings per share remained at 6 cents per share on a 19 percent increased number of equivalent shares outstanding. "We are extremely pleased with our earnings improvement," said John V. Atanasoff, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We believe the market uncertainty caused by health care reform is behind us and we are encouraged by the 7 percent revenue increase over the first quarter and an approximately 45 percent improvement in order backlog from the beginning of the fiscal year." Colorado MEDtech is a medical products/service company that operates two business units: its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , RELA Inc., and the Cybermedic Division. RELA is a custom product developer and manufacturer of diagnostic and therapeutic devices for the healthcare industry. Cybermedic develops, manufactures and markets computerized computerized adapted for analysis, storage and retrieval on a computer. computerized axial tomography see computed tomography. diagnostic testing Diagnostic testing Testing performed to determine if someone is affected with a particular disease. Mentioned in: Von Willebrand Disease equipment for use in cardiopulmonary cardiopulmonary /car·dio·pul·mo·nary/ (kahr?de-o-pool´mah-nar-e) pertaining to the heart and lungs. car·di·o·pul·mo·nar·y adj. Of, relating to, or involving both the heart and the lungs. medicine. -0-
Colorado MEDtech Inc.
Earnings Recap
Three Months Ended Six Months Ended
12/31/94 12/31/93 12/31/94 12/31/93
(Unaudited) (Unaudited)
Sales and Service $4,605,753 $5,087,391 $8,916,258 $10,231,493 Net income 250,578 185,397 447,671 310,416 Net income per share .04 .04 .06 .06 Wgt. Avg. shares outstanding 6,930,040 5,192,337 7,037,619 5,901,532 CONTACT: Colorado MEDtech Inc., Boulder John V. Atanasoff or Bruce L. Arfmann, 303/530-2660 or fax, 303/581-1010 |
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