CLASSIC MEDICAL GROUP REPORTS RESULTS
CLASSIC MEDICAL GROUP REPORTS RESULTS MUSKEGO, Wis., Dec. 31 /PRNewswire/ -- Classic Medical Group, Inc.
and subsidiary today released its fiscal year end financial statements as of Sept. 30, 1991. Annual sales for 1991 reported at $3,428,087 compared to 1990 sales of $3,540,002 were down three (3) percent, or $111,915.
Classic recorded a loss of $155,829 for the year compared to a $457,327 profit for 1990. Basic margins slipped due to an increase in manufacturing labor costs, while materials costs declined in the period. These effects were primarily due to the start-up of new product lines. Selling, general and administrative expense increases related primarily to increased office salaries, accounting, legal and professional expense. Classic Medical Group, Inc. manufactures and distributes disposable medical electrodes for a broad variety of medical procedures. CLASSIC MEDICAL GROUP STATEMENTS OF OPERATIONS YEARS ENDED SEPT. 30, 1991 1990 1989 Revenues: $3,428,087 $3,540,002 $3,013,188 Net income (loss): $(155,829) $457,327 $3,364 Net income (loss) per share: $(0.044) $0.134 $0.001 -0- 12/31/91 /CONTACT: Robert A. Macur, president of Classic Medical Products, 414-679-3100/ CO: Classical Medical Group, Inc. ST: Wisconsin IN: MTC SU: ERN
AL -- MN006 -- 5955 12/31/91 17:07 EST
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|Date:||Dec 31, 1991|
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