CompuMed announces results for first quarter of fiscal year.MANHATTAN BEACH Manhattan Beach, city (1990 pop. 32,063), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1912. It is a residential and beach community with an oil refinery and nearby factories that produce transportation and electrical equipment, computers, and pottery. , Calif.--(BUSINESS WIRE)--Feb. 16, 1996--CompuMed Inc. (Nasdaq Small Cap: CMPD CMPD Charlotte-Mecklenburg Police Department (Charlotte, NC) CMPD Compound CMPD Chronic Myeloproliferative Disorder CMPD Campomelic Dysplasia CMPD Custom Microcomputer Program Design ) today announced its results for the first quarter of its fiscal year ended Dec. 31, 1995. Total revenues for the first quarter ended Dec. 31, 1995 were $652,000, as compared to $763,000 for the same period the previous year. Net loss for the first quarter was $649,000, or $0.08 per share (based on 8,334,300 average shares outstanding), compared to $329,000, or $0.07 per share (based on 4,809,000 average shares outstanding), for the same period last year. The cash and marketable securities Marketable Securities Very liquid securities that can be converted into cash quickly at a reasonable price. Notes: Marketable securities are very liquid as they tend to have maturities less than one year, and the rate at which these securities can be bought or sold has balance as of Dec. 31, 1995 was $5,049,000. Revenues for the first quarter did not include CompuMed's osteoporosis osteoporosis (ŏs'tēō'pərō`sĭs), disorder in which the normal replenishment of old bone tissue is severely disrupted, resulting in weakened bones and increased risk of fracture; osteopenia diagnostic services diagnostic services, n.pl the imaging and laboratory capabilities available for determining the cause of an illness. revenues, which were $174,000 for the same period the previous year. Beginning Jan. 1, 1996, CompuMed will begin receiving royalties on service revenues generated by Merck Merck may refer to:
"These results were consistent with our expectations, particularly as CompuMed continued its increased research and development efforts in the first quarter," said Rod N. Raynovich, president and chief executive officer of CompuMed. "CompuMed is well-positioned in the high-growth areas of osteoporosis detection and cardiac cardiac /car·di·ac/ (-ak) 1. pertaining to the heart. 2. pertaining to the cardia. car·di·ac adj. 1. Of, near, or relating to the heart. 2. telemedicine ("long distance" medicine) Using a videoconferencing link to a large medical center in order that rural health care facilities can perform diagnosis and treatment. A specialist can monitor the patient remotely taking cues from the general practitioner or nurse who is actually examining , and we are focusing our strategic efforts on optimizing the strengths and competitive advantages of our technologies." CompuMed, based in Manhattan Beach, develops solutions to important medical problems through the use of computer technology. In addition to the OsteoGram(R), for osteoporosis detection, CompuMed is focused on telemedicine services for cardiology cardiology Medical specialty dealing with heart diseases and disorders. It began with the 1749 publication by Jean Baptiste de Sénac of contemporary knowledge of the heart. Diagnostic methods improved in the 19th century, and in 1905 the electrocardiograph was invented. and currently provides on-line computer interpretation of medical tests, such as electrocardiograms (ECGs), to physicians and healthcare providers. -0-
COMPUMED, INC.
SELECTED FINANCIAL DATA
$ in thousands (except share data)
For the Three Months
Ended December 31,
1995 1994
Revenues: ECG $ 479 $ 456 OsteoGram(R) $ --(a) $ 174(a) Real estate leases $ 99 $ 132 Other $ 74 $ 1 Total revenues $ 652(a) $ 763(a) Net loss $ (649) $ (329) Net loss per share $(0.08) $(0.07) Average shares outstanding 8,344,300 4,809,200 (a) Revenues for the first quarter did not include CompuMed's osteoporosis diagnostic services revenues, which were $174,000 for the same period the previous year. Beginning January 1, 1996, CompuMed will begin receiving royalties on service revenues generated by Merck, as per the OsteoGram(R) licensing agreement signed September 27, 1995. CONTACT: CompuMed Inc. Rod N. Raynovich, 310/643-5106 ext. 119 or Noonan/Russo Communications Inc. 212/696-4455 Investor: Jonathan Jonathan (jŏn`əthən) [short for Jehonathan, Heb.,=Yahweh has given]. 1 In the Bible, Saul's son and David's friend, both killed at the battle of Mt. Gilboa. David showed kindness to his son Mephibosheth. Fassberg, ext. 248 Media: Rich Tammero, ext. 222 e-mail: news@noonanrusso.com |
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