Creative Computer Applications, Inc. Reports Sales and Earnings for the Second Fiscal Quarter and Six Months Ended February 28, 2003.Business Editors CALABASAS, Calif.--(BUSINESS WIRE)--April 11, 2003 Creative Computer Applications, Inc. or CCA (1) (Common Cryptographic Architecture) Cryptography software from IBM for MVS and DOS applications. (2) (Compatible Communications A (AMEX AMEX See: American Stock Exchange :CAP), a leading provider of Clinical Information Systems (CIS Cis (sĭs), same as Kish (1.) (1) (CompuServe Information Service) See CompuServe. (2) (Card Information S ) for hospital and clinic-based laboratories, pharmacies This article is a list of major pharmacies (also known as chemists and drugstores) by country. Australia Pharmacies in Australia are mostly independently-owned by pharmacists, often operated as franchises of retail brands offered by the three major , and radiology radiology, branch of medicine specializing in the use of X rays, gamma rays, radioactive isotopes, and other forms of radiation in the diagnosis and treatment of disease. departments, announced today its sales and earnings for its second fiscal quarter and six-month period ended February February: see month. 28, 2003. Sales for the second fiscal quarter ended February 28, 2003 were $1,854,785 compared to sales of $1,814,423 for the comparable quarter ended February 28, 2002. The Company earned net income of $16,863 or $.01 basic and diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of , for the current fiscal quarter, compared to net income of $58,674, or $.02 basic and diluted earnings per share, for the comparable quarter one year ago. Sales for the six-month period ended February 28, 2003 were $3,736,946, compared to sales of $3,541,738 for the comparable six-month period one year ago. The Company earned net income of $64,846 or $.02 basic and diluted earnings per share, for the current six-month period, compared to net income of $88,651 or $.03 basic and diluted earnings per share, for the comparable six-month period one year ago. Steven Ste´ven n. 1. Voice; speech; language. Ye have as merry a steven As any angel hath that is in heaven. - Chaucer. 2. An outcry; a loud call; a clamor. To set steven to make an appointment. M. Besbeck, 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. , stated, "We are pleased with the results of operations for our second quarter and six month period, considering the difficult business conditions associated with the economy and war in Iraq. We also experienced delays in the timely completion of installations and the concurrent recognition of revenues from sales of our CIS products that were impacted by third-party issues and severe winter weather conditions. Such delays are a factor in our business and occur from time to time. During the second quarter we closed new sales of laboratory and radiology systems and received significant orders from our existing clients for upgrades, software, and services associated with HIPAA (Health Insurance Portability & Accountability Act of 1996, Public Law 104-191) Also known as the "Kennedy-Kassebaum Act," this U.S. law protects employees' health insurance coverage when they change or lose their jobs (Title I) and provides standards for patient health, compliance issues. Our profitability was impacted by the delays we experienced in implementations and increased marketing expenses that were incurred in the quarter. During the quarter we completed the development and release of new software versions that assist our clients in meeting HIPAA compliance and address patient care and safety concerns. We believe the investment that we are making in product development will position CCA for future growth. We are pleased with the market's increasing awareness of our CIS products. Many of our new clients are replacing older system technology that they previously acquired from other vendors." CCA is a healthcare information technology and service provider that provides software and browser-based solutions, specializing in Clinical Information Systems (CIS) for hospital and clinic-based laboratories, pharmacies, and radiology departments. Its primary products, CyberLAB(R), CyberMED(R) and CyberRAD(R), are highly functional, scalable, and can be deployed in a variety of healthcare settings. CCA's systems are deployed in more than 500 sites. For more information about CCA, its products and services, visit http://www.ccainc.com/.
Creative Computer Applications, Inc.
Operating Results (Unaudited)
Three Months Ended Six Months Ended
February 28, February 28,
2003 2002 2003 2002
Net Sales and
Service Revenues $1,854,785 $1,814,423 $3,736,946 $3,541,738
Gross Margin 967,918 929,209 1,914,219 1,819,962
Operating Income 26,693 102,517 108,044 154,571
Net Income 16,863 58,674 64,846 88,651
Basic Earnings Per Share .01 .02 .02 .03
Diluted Earnings Per Share .01 .02 .02 .03
Average Shares Outstanding
(Basic) 3,272,233 3,231,025 3,269,317 3,227,692
(Diluted) 3,540,303 3,231,025 3,461,395 3,227,692
This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. made in reliance upon the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statement. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. The Company refers interested persons to its most recent Annual Report on Form 10-KSB and its other SEC filings for a description of additional uncertainties and factors, which may affect forward-looking statements. The Company assumes no duty to update its forward-looking statements. |
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