Data Critical Reports Record Quarter Results.Business Editors, Health/Medical Writers BOTHELL, Wash.--(BW HealthWire)--April 19, 2001 Data Critical Corporation (Nasdaq:DCCA DCCA Department of Commerce and Community Affairs DCCA Department of Commerce and Consumer Affairs DCCA Dependable Computing for Critical Applications (Conference) DCCA Debian Common Core Alliance DCCA Dupont Circle Citizens Association ), a wireless communication technology company serving the health care market, announced its results for the first quarter ended March 31, 2001. Revenue in the first quarter of 2001 increased to $5.7 million, compared to $3.7 million for the same period in 2000. The company reported a first quarter 2001 net loss of ($1.4) million, or ($0.12) per basic and diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share, excluding $0.8 million for depreciation and amortization. That compares to a net loss of ($1.8) million, or ($0.17) per basic and diluted share for the same period in 2000. Including depreciation and amortization, the Company reported a first quarter net loss of $2.2 million, or ($0.18) per basic and diluted share, compared to $2.0 million, or ($0.19) per share for the same period in 2000. "We achieved a record quarter of revenue and at the same time smoothly transitioned to our new distribution model," said Richard Ri·chard , Joseph Henri Maurice Known as "Rocket." 1921-2000. Canadian hockey player. A right wing for the Montreal Canadiens (1942-1960), he led his team to eight Stanley Cup championships and was the first player to score 50 goals in a Earnest EARNEST, contracts. The payment of a part of the price of goods sold, or the delivery of part of such goods, for the purpose of binding the contract. 2. , 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. of Data Critical. "Sequentially se·quen·tial adj. 1. Forming or characterized by a sequence, as of units or musical notes. 2. Sequent. se·quen , we experienced a 36 percent revenue increase while also demonstrating expense reduction as evidenced by a 58 percent decrease in total operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. , excluding depreciation and amortization, as compared to the prior quarter. We are very pleased with our new business model that has already resulted in a substantial reduction in expenses and a record quarter of revenue." Compared to Q4 2000, the company reduced its net loss, including depreciation and amortization, by 55% from ($4.8) million in the fourth quarter. The company reported a first quarter 2001 loss from operations, before depreciation, amortization and net interest, of ($1.4) million compared to the prior quarter loss from operations of ($4.2) million. Earnest continued, "The first quarter was a busy one for Data Critical, particularly with the announcement of the VitalCom acquisition. We are working closely with VitalCom's management team on potential transition plans and expect the transaction to close at the end of the second quarter or early in the third quarter. The result will be the delivery of the most exciting wireless technology offerings available for caregivers today." About Data Critical: Data Critical Corporation develops and distributes wireless and Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the systems for communicating critical healthcare data. The company offers StatView(TM), AlarmView(TM) and FlexView(TM), a line of wireless alarm notification products for hospitals. It also provides MobileView(TM) and ECGStat(TM), a line of wireless products for physicians as well as WebChart(TM) and PocketChart(TM). Data Critical's Paceart division is the established leader in PC-based software for managing the care of cardiac patients with implanted im·plant v. im·plant·ed, im·plant·ing, im·plants v.tr. 1. To set in firmly, as into the ground: implant fence posts. 2. devices. Paceart systems are used by more than 2,500 cardiologists across the U.S. The company has twenty-five partnerships with such industry leaders as Aether aether: see ether, in physics and astronomy. Aether god of whole atmosphere. [Gk. Myth.: Jobes, 42] See : Air Systems, Agilent Technologies This article needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. , CRITIKON, General Electric, LabCorp Laboratory Corporation of America Holdings (NYSE: LH), more commonly known as LabCorp, is an S&P 500 company in Burlington, North Carolina, and one of the largest clinical laboratory networks in the world, with a United States network of 36 primary laboratories. , Medtronic Medtronic Cardiology A major manufacturer of pacemakers, defibrillators, and other cardiac devices , Siemens, Tyco and Welch Allyn Welch Allyn, Inc. was founded in 1915 and is today a leading manufacturer of innovative medical diagnostic and therapeutic devices, cardiac defibrillators, patient monitoring systems, and miniature precision lamps. . Additional information about Data Critical is available at www.datacritical.com. Data Critical Corporation will hold its quarterly investor conference call on Thursday Thursday: see week. April 19, 2001 at 1:45 p.m. (PST PST Paroxysmal supraventricular tachycardia, see there ). The call in telephone number is 800/218-4007. Investors can also listen (only) to the conference call in real time or by recording, by visiting www.datacritical.com and clicking on investor relations Investor relations The process by which the corporation communicates with its investors. . A recorded playback Playback could mean:
This release may contain 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. that involve risks and uncertainties. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. Important factors, which could cause actual results to differ materially from those in the forward-looking statements, are detailed in filings with the Securities and Exchange Commission made from time to time by Data Critical Corporation, including its annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for fiscal year ended December December: see month. 31, 2000 and other periodic filings. Data Critical Corporation undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or after the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" or to reflect the occurrence of unanticipated events. Copies of Data Critical's public disclosure filings with the SEC are available from its investor relations department.
Data Critical Corporation
Statements of Operations
(In thousands, except per share amounts)
For the Three Months
Ended March 31,
--------------------
2001 2000
-------- --------
Revenue $ 5,727 $ 3,705
Cost of revenue 2,306 1,472
-------- --------
Gross margin 3,421 2,233
-------- --------
Operating expenses:
Research and development 1,547 1,278
Sales and marketing 1,587 1,557
General and administrative 1,871 1,463
Depreciation and amortization 809 233
-------- --------
Total operating expenses 5,814 4,531
-------- --------
Loss from operations (2,393) (2,298)
Interest income (expense), net 205 277
-------- --------
Net loss attributable to common stock $ (2,188) $ (2,021)
======== ========
Net loss attributable to common stockholders
before depreciation and amortization $ (1,379) $ (1,788)
======== ========
Per share data-basic and diluted:
Basic and diluted net loss per share $ (0.18) $ (0.19)
======== ========
Net loss before depreciation and
amortization $ (0.12) $ (0.17)
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Weighted average shares used to calculate
basic and diluted loss per common share 11,942 10,569
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Data Critical Corporation
Balance Sheets
(In thousands, except share amounts)
March 31, December 31,
2001 2000
-------- --------
Assets
Current Assets:
Cash and cash equivalents $ 17,264 $ 19,948
Accounts receivable, net 3,336 2,785
Inventories, net 2,392 2,113
Prepaid expenses and other 718 742
-------- --------
Total current assets 23,710 25,588
Note receivable from officer 129 171
Investment in, and advances to
unconsolidated affiliate 3,290 3,274
Property, equipment and software, net 2,274 2,463
Goodwill and intangibles, net 11,453 11,487
Other assets, net 768 687
-------- --------
Total assets $ 41,624 $ 43,670
======== ========
Liabilities and Stockholders' Equity
Current Liabilities:
Current portion of notes payable
and capital leases $ 150 $ 147
Accounts payable 1,621 1,413
Deferred revenues 2,320 1,806
Other current liabilities 3,519 4,356
-------- --------
Total current liabilities 7,610 7,722
Notes payable and capital leases, net
of current portion 45 70
-------- --------
Total liabilities 7,655 7,792
Commitments and contingencies
Stockholders' Equity
Undesignated preferred stock, $0.001
par value; 3,000,000 authorized,
0 issued and outstanding, respectively -- --
Common stock and additional paid-in
capital, $.001 par value, 25,000,000
shares authorized; 12,019,695 and
11,949,323 shares issued and outstanding,
respectively 78,636 77,823
Treasury stock at cost; 707,167 and
811,217 shares, respectively (2,152) (1,909)
Deferred compensation (1,320) (1,029)
Accumulated deficit (41,195) (39,007)
-------- --------
Total stockholders' equity 33,969 35,878
-------- --------
Total liabilities, mandatorily redeemable
preferred stock and stockholders'
(deficit) equity $ 41,624 $ 43,670
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