Contour Medical, Inc. announces first-quarter results; company reports 44% sales increase, return to profitability.ST. PETERSBURG, Fla.--(BUSINESS WIRE)--April 27, 1995--Contour Medical, 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. : CMII), a manufacturer and distributor of medical products, today announced results for its first quarter ended March 31, 1995. Sales for the quarter increased 44% to $1,358,462 compared to sales of $942,243 in the first quarter of fiscal 1994. The company also reported a return to profitability with net income of $62,715, or 1 cent per share, versus a net loss of $99,586, or 5 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. , in the same period last year. Management said that approximately $180,000 of the sales increase was the result of greater sales of Contour's traditional product lines such as positioning aids and orthopedic orthopedic /or·tho·pe·dic/ (-pe´dik) pertaining to the correction of deformities of the musculoskeletal system; pertaining to orthopedics. devices, while the remaining $236,000 was due to demand from nursing homes for bulk medical supplies and pre-packaged kits such as the company's new REDI NURSE SYSTEM(TM). "We are pleased with the improved financial performance of Contour Medical in the short time since Retirement Care gained control of the company in September," said Chris Brogdon, chairman. "We are projecting $8 million to $10 million in sales for the year compared to approximately $4 million in fiscal 1994." He added that Contour continues to focus on expanding both its manufacturing and medical supply distribution business. Contour Medical, which operates facilities in St. Petersburg and Grand Blanc, Michigan Grand Blanc is a suburb of Flint in Genesee County in the U.S. state of Michigan. The population was 8,242 at the 2000 census. The city is situated within Grand Blanc Charter Township, but is politically independent. , manufactures orthopedic and rehabilitative re·ha·bil·i·tate tr.v. re·ha·bil·i·tat·ed, re·ha·bil·i·tat·ing, re·ha·bil·i·tates 1. To restore to good health or useful life, as through therapy and education. 2. products. The company also distributes a full line of disposable disposable Nursing adjective Referring to that which is discarded or disposed of noun An item used in health care-related Pt contact which is discarded after use–eg masks, gloves, gowns, needles, paper products, syringes, wipes. See Biohazardous waste. medical products for use in the nursing home and home health care industries as well as in clinics and retirement centers. -0- FINANCIAL RECAP Three Months Ended March 31, (Unaudited) 1995 1994 Sales $ 1,358,462 $ 942,243 Net Income (Loss) $ 62,715 $ (99,586) Net Income (Loss) Per Common Share, Primary $ .01 $ (.05) Weighted Average Number of Common Shares 4,972,190 2,090,492 CONTACT: Contour Medical, Inc. Connie Brogdon (Investor Relations Investor relations The process by which the corporation communicates with its investors. ), 404/255-7500 |
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