Contour Medical Inc. announces fiscal 1995 results.ST. PETERSBURG Petersburg, city (1990 pop. 38,386), politically independent and in no county, SE Va., on the Appomattox River; inc. 1850. A port of entry and an important tobacco market, it has industries producing chemicals, pharmaceuticals, furniture, structural steel, lumber, , Fla.--(BUSINESS WIRE)--Oct. 4, 1995--Contour Medical, Inc. (Nasdaq SmallCap Market-CTMI), a manufacturer and distributor of medical products, today announced results for its fiscal year ended June June: see month. 30, 1995. In June, Contour changed its fiscal year end to June 30 from Dec. 31 to coincide with the year end of its majority owner, Retirement Care Associates, Inc. (Nasdaq National Market-RCRE). As a result, fiscal 1995 results include only the six-month period from Jan. 1, 1995, through June 30, 1995, while fiscal 1994 results include the twelve-month period from Jan. 1, 1994, through Dec. 31, 1994. Sales for fiscal 1995 were $3,568,459 versus $3,945,745 in fiscal 1994. Compared with the six-month period ended June 30, 1994, sales increased 85% from $1,929,000. Net income for the year ended June 30, 1995, was $111,373, or 2 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. , versus a net loss of $529,182, or 21 cents per share, in fiscal 1994. The Company primarily attributed the sales increase to enhanced marketing efforts for each of Contour's product lines and the addition of bulk medical supply sales. "It is very rewarding to witness the substantial growth of Contour Medical," said Gerald Gerald - ["Gerald: An Exceptional Lazy Functional Programming Language", A.C. Reeves et al, in Functional Programming, Glasgow 1989, K. Davis et al eds, Springer 1990]. Flanagan, president of Contour. "I am especially pleased to announce that the Company and its employees are meeting the challenges of this rapid growth in a profitable manner." He added that management expects continued sales and earnings increases in fiscal 1996. Contour Medical, which operates facilities in St. Petersburg and Grand Blanc, Mich., manufactures orthopedic orthopedic /or·tho·pe·dic/ (-pe´dik) pertaining to the correction of deformities of the musculoskeletal system; pertaining to orthopedics. 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 Six months ended Year ended (Unaudited) June 30, 1995 Dec. 31, 1994 Sales $ 3,568,459 $ 3,945,745 Net Income (Loss) $ 111,373 $ (529,182) Net Income (Loss) Per Common Share, Primary $ .02 $ (.21) Weighted Average Number of Common Shares 4,558,215 2,560,883 CONTACT: Contour Medical Inc. Chris Brogdon, 404/255-7500 |
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