MESA MEDICAL REPORTS RECORD ANNUAL SALES AND EARNINGS
MESA MEDICAL REPORTS RECORD ANNUAL SALES AND EARNINGS WHEAT RIDGE, Colo., May 13 /PRNewswire/ -- Mesa Medical Inc.
(NASDAQ: MSMD) today reported record sales and net income for the fiscal year ended March 31, 1992.
For the year ended March 31, 1992, net sales rose 8 percent to a record $3,785,000 from $3,516,000 for the prior year. Net income for the year rose 7 percent to a record $910,000 or 21 cents per share from $850,000 or 20 cents per share in the prior year. During the fiscal fourth quarter, net sales decreased 4 percent to $1,035,000 from $1,076,000 for the like quarter last year. Net income for the quarter remained unchanged at $344,000 or 8 cents per share. Luke Schmieder, president, reports that fiscal 1992 was the fifth consecutive year of record profitability for Mesa Medical. This year's record net income was achieved despite an increase in income tax expense to $353,000 from $63,000 in the prior year when Mesa Medical's income taxes were reduced by the carryforward of net operating losses from prior years. Mesa Medical develops, acquires, manufactures and markets medical products used in kidney dialysis and sensor products for industrial, transportation and storage facility applications. MESA MEDICAL INC. Financial Summary Three Months Ended March 31, 1992 1991 Net sales $1,035,000 $1,076,000 Net income $344,000 $344,000 Earnings per share $.08 $.08 Average shares 4,440,000 4,287,000 For The Year Ended March 31, 1992 1991 Net sales $3,785,000 $3,516,000 Net income $910,000 $850,000 Earnings per share $.21 $.20 Average shares 4,429,000 4,284,000 -0- 5/13/92 /CONTACT: Luke R. Schmieder of Mesa Medical, 303-431-4474/ (MSMD) CO: Mesa Medical Inc. ST: Colorado IN: MTC SU: ERN
BB-MC -- DV002 -- 9526 05/13/92 09:31 EDT
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|Date:||May 13, 1992|
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