Criticare Systems, Inc. Reports Results for the Fourth Quarter and Fiscal 2006 Year End.MILWAUKEE -- CRITICARE SYSTEMS, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (AMEX AMEX See: American Stock Exchange :CMD CMD cerebromacular degeneration. ). Criticare Systems, Inc. today announced financial results for the fiscal 2006 year ended June 30, 2006 and the quarterly conference call details For the fiscal year ended June 30, 2006, the company had net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of $31,350,919 and net income of $212,118 as compared to net sales of $26,781,627 and a net loss of $(422,245) in fiscal 2005. The revenue is the second largest in the company's history and the net income is the first annual profit for the company in 11 years. Criticare's businesses reflecting gains were Acute Care, OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and and International sales. Monitor placements in our Oral Surgery business also increased slightly but overall revenue declined primarily due to the company exiting the defibrillator defibrillator, device that delivers an electrical shock to the heart in order to stop certain forms of rapid heart rhythm disturbances (arrhythmias). The shock changes a fibrillation to an organized rhythm or changes a very rapid and ineffective cardiac rhythm to a market. Fourth quarter net sales for fiscal 2006 of $7,095,962 were 11.5% lower than the $8,020,894 in net sales for the same period of fiscal 2005, principally due to the strong introductory requirement for MR monitors in fiscal 2005. The company had a net loss of $(524,220) for the fourth quarter of fiscal 2006 that included a charge of $529,700 to reserve a portion of an international receivable. This compares to net income of $371,271 for the fourth quarter of fiscal 2005. Criticare will hold a quarterly conference call on Monday, October 2, 2006 at 10:00 am central daylight time to discuss the year end results of fiscal 2006. The call can be accessed by dialing 1-877-407-0782. CSI CSI Crime Scene Investigator CSI CompuServe, Inc. CSI Commodity Systems, Inc. CSI Commodity Systems Inc. (Boca Raton, FL) CSI Crime Scene Investigation (CBS TV show) CSI Christian Schools International (www.csiusa.com) designs, manufactures, and markets cost-effective patient monitoring systems and noninvasive sensors for a wide range of hospitals and alternate health care environments throughout the world. This press release contains forward-looking statements. Such statements refer to the Company's beliefs and expectations. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those described. Such uncertainties include, but are not limited to, the timely completion of new products, regulatory approvals for new products, the risk of new and better technologies, risks relating to international markets, as well as general conditions and competition in the company's markets. Other risks are set forth in CSI's reports and documents filed from time to time with the Securities and Exchange Commission. [TABLE OMITTED] [TABLE OMITTED] [TABLE OMITTED] |
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