Printer Friendly

VITAL HEART SYSTEMS ANNOUNCES THIRD CONSECUTIVE QUARTER OF INCREASED REVENUES

 VITAL HEART SYSTEMS ANNOUNCES THIRD CONSECUTIVE
 QUARTER OF INCREASED REVENUES
 BOSTON/MINNEAPOLIS, Oct. 29 /PRNewswire/ -- Vital Heart Systems, Inc. (NASDAQ: VHRT) today announced third quarter revenues of $280,098 compared to $15,848 for the same period one year ago. Revenues for the first 9 months of 1992 are $519,422 compared to $85,552 for the first 9 months of 1991.
 The company recorded a net loss of $519,304 for the third quarter 1992, or $0.03 per share compared to a net loss of $453,060 or $0.03 per share for the same period one year ago. The net loss for the first 9 months of 1992 is $1,548,444 or $0.08 compared to a net loss of $1,483,925 or $0.08 per share for the same period one year ago. The first 9 months of 1991 included an extraordinary item of $112,003 of revenue.
 "We are pleased with the company's continued trend of increasing revenues for 1992. During this period of revenue growth, Vital Heart Systems has raised $2.7 million in new equity which will be focused on the acceleration of marketing and sales activities with our national distributor network and new European distributor," said David L. Printy, chairman, president and CEO.
 Vital Heart Systems, Inc. with offices in Beverly, Mass. and Minneapolis, manufactures and markets the variance cardiograph, a non- invasive, stress-free, diagnostic instrument to aid physicians in the diagnosis of coronary artery disease. The stock of Vital Heart Systems, Inc. is traded on the over-the-counter market under the NASDAQ symbol VHRT.
 VITAL HEART SYSTEMS, INC.
 CONDENSED STATEMENT OF OPERATIONS
 Third Quarter Nine Months
 9/30/92 9/30/91 9/30/92 9/30/91
 Sales $280,098 $15,848 $519,422 $85,552
 Cost of sales
 and expenses (782,395) (439,176) (1,991,820) (1,601,980)
 Operating income
 (loss) (502,297) (423,328) (1,472,398) (1,516,428)
 Interest and
 misc. expenses (17,007) (29,732) (76,046) (79,500)
 Unusual item-pipeline
 earnout -- -- -- 112,003
 Net income (loss) $(519,304) $(453,060) $(1,548,444) $(1,483,925)
 Net income (loss)
 per common share $(0.03) $(0.03) $(0.08) $(0.08)
 Average shares
 outstanding 20,081,271 17,623,899 19,539,336 17,613,640
 -0- 10/29/92
 /CONTACT: David L. Printy, chairman, president & CEO, or Deborah Meacock, director, investor relations, 800-966-2838, both of Vital Heart Systems/
 (VHRT) CO: Vital Heart Systems, Inc. ST: Minnesota IN: MTC SU: ERN


AL -- MN020 -- 6760 10/29/92 16:21 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 29, 1992
Words:428
Previous Article:BALDWIN & LYONS, INC. UNAUDITED THIRD QUARTER REPORT
Next Article:SUPERVALU COMPLETES THE ACQUISITION OF WETTERAU
Topics:


Related Articles
VITAL HEART SYSTEMS ANNOUNCES INCREASED REVENUES FOR THE SECOND QUARTER AND FIRST SIX MONTHS OF 1992
VITAL HEART SYSTEMS ANNOUNCES THIRD QUARTER REVENUE ADJUSTMENT AND FOURTH QUARTER SALES
VITAL HEART SYSTEMS, INC. ANNOUNCES FINANCING AND FOURTH QUARTER RESULTS
VITAL HEART SYSTEMS ANNOUNCES SECOND QUARTER AND SIX MONTH FINANCIALS
/ C O R R E C T I O N -- MEDICAL DEVICES, INC./ (Correction Notice)
PLC SHOWS FIRST PROFITABLE QUARTER WITH 111% INCREASE IN REVENUES; FIVE HEART LASERS SHIPPED INTERNATIONALLY
Spectranetics Reports Fifth Straight Quarter of Record Revenues.
PLC SYSTEMS Reports Third Quarter and Nine Month Financial Results.
CardioDynamics (CDIC) Reports Eleventh Consecutive Quarterly Sales Increase and 72% Growth for Third Quarter 2000.
CardioDynamics (CDIC) Reports First Profitable Quarter, Record Sales, And 15th Consecutive Quarterly Sales Increase.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters