Digital Dictation, Inc. announces the filing of form 10-KSB for fiscal year ended Dec. 31, 1996.VIENNA, Va.--(BUSINESS WIRE)--April 9, 1997--Digital Dictation Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : DGDT DGDT Double-Gate Dynamic Threshold ) announced today that it filed Form 10-KSB for the year ended Dec. 31, 1996. -0-
DIGITAL DICTATION INC.
Summary Consolidated Financial Information
(Unaudited)
(in thousands, except share information)
Year Ended
Dec. 31,
1996 1995
Income statement data:
Revenues $ 6,937 $ 5,058
Cost of services 4,490 3,443
Gross profit 2,446 1,615
G&A expenses 1,717 1,284
Operating income 730 331
Other income (expense) (37) (24)
Pre-tax income 693 306
Provision for income taxes
(Note 1) 253 202
Net income $ 440 $ 104
Net income per share $ .07 $ .03
Weighted average shares
outstanding 6,257 6,257
Year Ended
Dec. 31,
1996 1995
Balance sheet data
Cash and cash equivalents $ 89 $ 33
Receivables 1,160 737
Other assets 908 870
Total assets 2,157 1,640
Working capital 259 (138)
Long term debt 7 --
Shareholder's equity 1,044 605
Note 1: In 1995, the company was an S-Corporation and incurred no
corporate tax liability. Provisions for income tax, net income and
income per share for 1995 are on a pro-forma basis.
Digital Dictation Digital dictation is a method of recording and editing the spoken word in real-time within a digital audio format. Digital dictation offers several advantages over traditional cassette tape based dictation: v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. medical transcription
information processing Acquisition, recording, organization, retrieval, display, and dissemination of information. Today the term usually refers to computer-based operations. services for the health care information market. Formed in 1989, Digital Dictation Inc. has grown at an annual rate in excess of 31% over the past seven years. For 1996, the company's revenues grew by 37% to $6.9 million and net income increased 321% to $439,000. Digital Dictation utilizes proprietary telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. and computer technologies to link a network of over 200 independent, home-based medical transcriptionists medical tran·scrip·tion·ist n. A person who transcribes medical reports dictated by a physician concerning a patient's health care. in 36 states with major hospital clients located throughout the U.S. from California to Virginia. By utilizing the company's turnkey See turnkey system. medical transcription services, hospital clients are able to eliminate costly in-house staff personnel and improve the level of service to its physicians and patients. The trend to outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. of medical transcription services is expanding rapidly. Health care facilities spend an estimated $6 billion per year on medical transcription, and with all segments of the health care industry under severe cost cutting pressures contracting out non-health care functions such as medical transcription is becoming a standard process. Thus, Digital Dictation expects to continue to benefit from a rapidly growing marketplace. For additional information, call Digital Dictation at 1-800-888-5295. CONTACT: Digital Dictation Inc., Vienna Richard D. Cameron, President, 800/888-5295 |
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