DiaSys Reports Record Annual Sales, Marking Third Consecutive Year Of High Double Digit Growth; Retains H.L. Lanzet, Inc. & Jerome Sidel For Financial Public Relations.Business/Medical Editors WATERBURY, Conn.--(BW HealthWire)--Oct. 1, 2001 DiaSys Corporation (AMEX AMEX See: American Stock Exchange :DYX DYX Dyslexia ) today reported results of operations for the fiscal year ended June 30, 2001. Total revenue for the twelve-month period was $1,776,303, an increase of 89% over $940,830 recorded for the same period in 2000. Net loss for the twelve month period ended June 30, 2001 was $(1,770,065) (inclusive of inclusive of prep. Taking into consideration or account; including. $311,133 in parent/subsidiary expense consolidation, one-time costs associated with the Company's acquisition plan; a doubling in reserve against receivables as a conservative measure; and, a $198,592 increase in asset depreciation in connection with the purchase of Intersep Limited in September, 2000) compared to $824,299 for the same time period in 2000. Todd M. DeMatteo, President/CEO, said that the Company remains focused on achieving sustainable sales, earnings and fundamentals, and expects to report developments in that connection over the next several months. He said in order to facilitate its communication efforts, the Company has retained the services of H.L. Lanzet, Inc. and Jerome Sidel, long established and respected professionals who are exceptionally qualified in communications with the financial and investment community. DiaSys Corporation designs, develops, manufactures and distributes medical laboratory instrumentation, consumables, reagents and test kits with applications in urinalysis urinalysis (y  r'ənăl`ĭsĭs), clinical examination of urine for the purpose of medical diagnosis. , microbiology and cytology cytology (sītŏl`əjē), in biology, the study of the structure of all normal and abnormal components of cells and the changes, movements, and transformations of such components. . DiaSys is a
registered trademark of DiaSys Corporation.
Year Ended June 30,
2001 2000
---- ----
Revenue $1,776,303 $940,830
Net Loss (1,770,065) (945,766)
Weighted Average
Shares Outstanding 6,458,698 6,210,094
Net loss is inclusive of $311,133 in parent/subsidiary expense consolidation, one-time costs associated with the Company's acquisition plan; a doubling in reserve against receivables as a conservative measure; and, a $198,592 increase in asset depreciation in connection with the purchase of Intersep Limited. The foregoing press release includes "forward looking statements" within the meaning of, and made pursuant to, 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. Such forward looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company or events, or timing of events, relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Company to materially differ from those expressed or implied by such forward looking statements. DiaSys refers interested parties to its most recent Annual Report on form 10-KSB and other SEC filings for a complete description of, and discussions about, the Company. |
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