Printer Friendly

CORRECTION TO QUEST MEDICAL, INC. SECOND QUARTER OPERATING EARNINGS

 /C O R R E C T I O N -- QUEST MEDICAL RESULTS/
 In LA014, "Quest Medical, Inc. (NASDAQ) Second Quarter Operating


Earnings Advance 78 Percent on 43 Percent Revenue Gain," moved earlier today, we are advised by the company that in the tabular material under both "Quarter ended" and "Six months ended" tables the sixth line should read "Marketing," rather than "Research and Development" and the seventh line should read "Research and Development," rather than "Marketing" as originally moved. The corrected tables follow:
 QUEST MEDICAL, INC.
 Consolidated Statement of Earnings
 Quarter Ended
 June 30,
 1992 1991
 Net revenue $3,451,000 $2,409,000
 Cost of revenue 1,725,000 1,212,000
 Gross profit 1,726,000 1,197,000
 Operating expenses:
 General and administrative 583,000 546,000
 Marketing 422,000 258,000
 Research & development 291,000 152,000
 Earnings
 from operations 430,000 242,000
 Other income (expenses):
 Gain on sale of
 marketable securities 18,000 169,000
 Unrealized gain (loss)
 on marketable securities -- --
 Gain on sale
 of product line 8,000 --
 Interest expense (30,000) (18,000)
 Interest and other income 110,000 153,000
 Earnings from
 continuing operations
 before income taxes 536,000 547,000
 Federal income taxes 65,000 37,000
 Net earnings $471,000 $510,000
 Earnings per common &
 common equivalent share:
 Primary $.09 $.10
 Fully diluted $.09 $.10
 Weighted average number of
 common & common equivalent
 shares outstanding:
 Primary 5,486,773 5,148,734
 Fully diluted 5,486,773 5,148,734
 QUEST MEDICAL, INC.
 Consolidated Statement of Earnings
 Six Months Ended
 June 30,
 1992 1991
 Net revenue $6,743,000 $4,243,000
 Cost of revenue 3,361,000 2,222,000
 Gross profit 3,382,000 2,021,000
 Operating expenses:
 General and administrative 1,194,000 948,000
 Marketing 785,000 425,000
 Research & development 567,000 290,000
 Earnings
 from operations 836,000 358,000
 Other income (expenses):
 Gain on sale of
 marketable securities 11,000 199,000
 Unrealized gain (loss)
 on marketable securities -- (124,000)
 Gain on sale
 of product line 8,000 --
 Interest expense (63,000) (18,000)
 Interest and other income 232,000 334,000
 Earnings from
 continuing operations
 before income taxes 1,024,000 749,000
 Federal income taxes 143,000 98,000
 Net earnings $881,000 $650,000
 Earnings per common &
 common equivalent share:
 Primary $.16 $.13
 Fully diluted $.16 $.13
 Weighted average number of
 common & common equivalent
 shares outstanding:
 Primary 5,463,318 5,057,526
 Fully diluted 5,463,318 5,156,527
 -0- 7/22/92 C LA014
 (QMED) CO: Quest Medical Inc. ST: Texas IN: MTC SU: ERN


JL -- LA014X -- 2051 07/22/92 15:25 EDT
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:Jul 22, 1992
Words:449
Previous Article:WEST ONE BANK, WASHINGTON APPOINTS DENNIS C. JOINES VICE PRESIDENT
Next Article:AREA GAS COMPANIES ADVISE CUSTOMERS ON IDENTIFYING EMPLOYEES
Topics:


Related Articles
QUEST MEDICAL INC. PRE-TAX OPERATING EARNINGS RISE TO $424,000 FOR THE FOURTH QUARTER FROM $17,000 LAST YEAR AS REVENUE INCREASES 81 PERCENT
QUEST MEDICAL, INC. (NASDAQ) SECOND QUARTER OPERATING EARNINGS ADVANCE 78 PERCENT ON 43 PERCENT REVENUE GAIN
QUEST MEDICAL INC. REPORTS FOURTH QUARTER, 1992 RESULTS
QUEST MEDICAL INC. ANNOUNCES FIRST QUARTER RESULTS
QUEST MEDICAL INC. SECOND QUARTER NET EARNINGS ARE $.12 PER SHARE VS. $.09 PER SHARE
QUEST MEDICAL INC. REPORTS THIRD QUARTER RESULTS
QUEST MEDICAL REPORTS FIRST QUARTER RESULTS
QUEST MEDICAL, INC. REPORTS FIRST QUARTER OUTLOOK
QUEST MEDICAL REPORTS SECOND QUARTER AND SIX MONTH RESULTS
Quest Medical Reports Third Quarter and Nine Month Results

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