Printer Friendly

DANNINGER MEDICAL TECHNOLOGY, INC. ANNOUNCES 1991 EARNINGS

 DANNINGER MEDICAL TECHNOLOGY, INC. ANNOUNCES 1991 EARNINGS
 COLUMBUS, Ohio, March 13 /PRNewswire/ -- Danninger Medical Technology (NASDAQ: DANN) today announced record sales of $8,444,000 for the twelve months ended Dec. 31, 1991, compared to $7,854,000 for 1990. Net income for 1991 declined to $401,000, or nine cents per share, versus $518,000, or twelve cents per share, the previous year. The earnings decline partially resulted from higher spending for research and development in 1991, which incresed $172,000, from $789,000 in 1990 to $961,000. This spending reflects an expansion of new product development for both therapy products and spinal implant devices.
 Sales for the three months ended Dec. 31, 1991, rose 9.3 percent to a record $2,425,276. Net income was $268,095 for the fourth quarter of 1991 compared to $121,169 last year. On an earnings per share basis, the three-month results were six cents in 1991 versus four cents in 1990.
 In addition to expanding research and development efforts in 1991, the company devoted additional resources to strengthening its distribution program by developing an exclusive dealer network for certain therapy products and improved internal controls.
 Danninger Medical Technology, Inc. designs, manufactures, and markets medical devices that assist patients in their recovery following surgery or trauma. Danninger is a leader in Continuous Passive Motion devices for the knee, hip and hand. Cross Medical Products, Inc., a wholly owned subsidiary of Danninger, manufactures and markets a spinal implant subject to an FDA Investigatory Device Exemption and orthopedic surgical instrumentation.
 FINANCIAL HIGHLIGHTS
 Three Months Ended Three Months Ended
 Dec. 31, 1991 Dec. 31, 1990
 Net Sales $2,425,276 $2,219,130
 Net Income 268,095 121,169
 Earnings Per Share .06 .04
 Twelve Months Ended Twelve Months Ended
 Dec. 31, 1991 Dec. 31, 1990
 Net Sales $8,443,652 $7,853,569
 Net Income 400,858 518,496
 Earnings Per Share .09 .12
 Dec. 31, 1991 Dec. 31, 1990
 Total Assets $6,647,237 $6,273,999
 Working Capital $3,427,268 $2,270,643
 Shareholders' Equity $3,745,196 $3,102,766
 -0- 3/13/92
 /CONTACT: John Jenkins, chief financial officer of Danninger Medical, 614-276-8267/
 (DANN) CO: Danninger Medical Technology, Inc. ST: Ohio IN: MTC SU: ERN


LC -- CL009 -- 7834 03/13/92 13:18 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:Mar 13, 1992
Words:387
Previous Article:FIDELITY NATIONAL FINANCIAL INC. ANNOUNCES 11 PERCENT INCREASE IN QUARTERLY DIVIDEND
Next Article:AT&T AND FLORIDA HOTEL & MOTEL ASSOCIATION CO-SPONSOR SEMINAR
Topics:


Related Articles
DANNINGER MEDICAL TECHNOLOGY, INC. ANNOUNCES HIGHER FIRST QUARTER EARNINGS
DANNINGER MEDICAL TECHNOLOGY, INC. ANNOUNCES ADDITION OF TWO KEY MARKETING EXECUTIVES
DANNINGER MEDICAL TECHNOLOGY, INC. ANNOUNCES HIGHER SECOND QUARTER AND FIRST HALF RESULTS
DANNINGER MEDICAL TECHNOLOGY, INC. THIRD QUARTER LOSS
DANNINGER MEDICAL TECHNOLOGY, INC. ANNOUNCES 1992 RESULTS
DANNINGER MEDICAL TECHNOLOGY, INC. ANNOUNCES RECORD FIRST QUARTER SALES
DANNINGER MEDICAL TECHNOLOGY, INC. ANNOUNCES RECORD SALES FOR 1993; NET LOSS DUE TO PROVISIONS FOR CERTAIN INVENTORY AND ACCOUNTS RECEIVABLE
DANNINGER MEDICAL TECHNOLOGY, INC. ANNOUNCES FDA MARKETING CLEARANCE FOR SHOULDER THERAPY DEVICE
DANNINGER MEDICAL TECHNOLOGY, INC. COMPLETES DEBENTURE OFFERING
Danninger Acquires Rehabilitation Device Rental Company

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