MEDIWARE REVENUE AND NET UP FOR FIRST QUARTER
MEDIWARE REVENUE AND NET UP FOR FIRST QUARTER MELVILLE, N.Y., Nov. 15 /PRNewswire/ -- Mediware Information
Systems, Inc. (NASDAQ: MEDW; PSE: MIS) today reported revenue for the period ended Sept. 30 of $1,657,643, up 27 percent from $1,288,891 a year ago.
Net income for the period was $65,591, essentially unchanged from $64,012 a year ago. But an increase in average weighted shares outstanding from 1,512,954 to 2,077,769 dropped per-share earnings to 3 cents from 4 cents a year ago. Cost of sales during the period decreased as a percentage of revenue, reflecting a higher mix of software vs. hardware sales. Gross margins were 54 percent of sales for the period just ended, vs. 48 percent a year ago. SG&A, however, increased by $254,000, or 45 percent, over last year, due mainly to certain of the start-up costs associated with the company's new management system for hospital surgical suites, Surgiware. In August 1991 the company completed an initial public offering of 985,300 shares of its common stock at $5.25 per share. As a result of the offering working capital increased from $255,281 deficit at June 30, 1991, to $3,346,255 at Sept. 30, 1991. -0- 11/15/91 /CONTACT: Thomas Redington of Redington, Inc., 203-222-7399 or 212-926-1733, for Mediware Information Systems/ (MEDW) CO: Mediware Information Systems, Inc. ST: New York IN: SU: ERN FC-CK -- NY088 -- 1710 11/15/91 16:29 EST
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|Date:||Nov 15, 1991|
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