Daxor Corporation Announces First Quarter 2004 Earnings.Business Editors/Health/Medical Writers NEW YORK--(BUSINESS WIRE)--May 13, 2004 Daxor Corporation, (AMEX AMEX See: American Stock Exchange : DXR DXR Danbury Municipal Airport, Danbury CT (airport code) DXR Data Extraction and Recording DXR X-Director DXR Dynamic Extended Resolution )
THREE MONTHS ENDED MARCH 31
2004 2003
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Total Revenues $ 1,130,526 $ 737,617
Operating Revenues $ 408,248 $ 218,683
Net Income (loss) $ 19,764 $(274,585)
Weighted Average Number of Shares
Outstanding 4,633,659 4,656,584
Equivalent Share $ 0.00 $ (0.06)
Daxor Corporation, (AMEX: DXR), a medical instrumentation and biotechnology company, today announced first quarter earnings for 2004. For the three months ended March 31, 2004 total revenues increased by 53% to $1,130,526 from $737,617 in 2003. Operating revenues increased by 87% to $408,248 in 2004 from $218,683 in 2003. Total Cost and Expenses increased by 10% in 2004 to $1,091,757 vs. $990,652 in 2003. This was related to increased marketing efforts and research and development expenses. The Company anticipates that the sales of the BVA-100 Blood Volume Analyzers and kits will become the major source of income for the Company. The Company plans to continue expanding its sales and marketing force, which currently consists of 12 salesmen and 4 support personnel. At March 31, 2004 the Company had total assets of $50,130,886 with shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. of $37,537,441 as compared to total assets of $39,272,928 with shareholders' equity of $31,529,228 at March 31, 2003. Despite increasing its expenses, the Company has significantly increased its financial base as compared to one year ago. Daxor Corporation manufactures and markets the BVA-100, a semi-automated Blood Volume Analyzer. The BVA-100 is used in conjunction with a single use diagnostic kit. Among nationally renowned hospitals and other major medical institutions which have purchased the BVA-100 Blood Volume Analyzer are the Mayo Clinic Mayo Clinic: see Mayo, Charles Horace. Mayo Clinic voluntary association of more than 500 physicians in Rochester, Minnesota. [Am. Hist.: EB, 11: 723] See : Medicine , the Cleveland Clinic Cleveland Clinic (formally known as the Cleveland Clinic Foundation) is a multispecialty academic medical center located in Cleveland, Ohio, USA. Cleveland Clinic was established in 1921 by four physicians for the purpose of providing patient care, research, and medical , NIH "Not invented here." See digispeak. NIH - The United States National Institutes of Health. , and New York University New York University, mainly in New York City; coeducational; chartered 1831, opened 1832 as the Univ. of the City of New York, renamed 1896. It comprises 13 schools and colleges, maintaining 4 main centers (including the Medical Center) in the city, as well as the Medical Center. The BVA-100 measures blood volume to within a 98% accuracy. More information about the BVA-100 and other Daxor products and services can be found at www.daxor.com. |
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