Contour Medical announces record first quarter results.ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Nov. 8, 1995--Contour Medical, Inc. (Nasdaq SmallCap Market:CTMI CTMI Current Topics in Microbiology and Immunology CTMI Church Team Ministries International CTMI Classroom Technology Migration Initiative (Canada) CTMI Charles Tucker Ministries International (Pasadena, CA) ), a manufacturer of orthopedic orthopedic /or·tho·pe·dic/ (-pe´dik) pertaining to the correction of deformities of the musculoskeletal system; pertaining to orthopedics. care and rehabilitation rehabilitation: see physical therapy. products and a distributor 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, Wednesday announced record results for its first quarter ended Sept. 30, 1995. The Company reported a 500% increase in net income to $107,279, 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. , on revenue that advanced 124% to $2,238,129 for the quarter versus net income of $17,799, or 1 cent per share, on revenue of $1,000,062 in the same quarter a year ago. Earnings per share growth was impacted by an increase in the number of weighted average shares outstanding from 2,758,436 to 4,571,677 for the comparative periods. "The growth in revenue resulted from increased sales across the board," said Chris Brogdon, Chairman. "We feel our business plan is progressing nicely, and we are looking forward to a very rewarding year end at June 30, 1996." 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 RCRE Radio Control Racers Edmonton (Canada) ). Contour Medical, which operates facilities in St. Petersburg and Grand Blanc, Mich., 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 medical products for use in the nursing home and home health care industries as well as in clinics and retirement centers. -0-
EARNINGS RECAP Three months Ended
(Unaudited) September 30, 1995
1995 1994
Sales $ 2,238,129 $ 1,000,062 Pretax Income $ 162,544 $ 17,799 Income Tax Expense $ 52,265 $ - Net Income $ 107,279 $ 17,799 Net Income Per Share $ .02 $ .01 Weighted Average Shares Outstanding 4,571,677 2,758,436 CONTACT: Contour Medical Inc., Atlanta Chris Brogdon, 404/255-7500 |
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