DIAGNOSTEK ANNOUNCES FINANCIAL RESULTS
DIAGNOSTEK ANNOUNCES FINANCIAL RESULTS ALBUQUERQUE, N.M., June 4 /PRNewswire/ -- Diagnostek, Inc.
(NYSE: DXK), announced today its financial results for the quarter and fiscal year ended March 31, 1992. Such results confirm the expected results Diagnostek announced on May 29, 1992.
For the year ended March 31, 1992, revenues, net earnings and earnings per share were $293.8 million, $13.1 million and $.61 per share, respectively. Compared to the prior fiscal year, revenues increased 31 percent, net earnings increased 90 percent and earnings per share increased 74 percent. Revenues, net earnings and earnings per share for the prior fiscal year were $225.1 million, $6.9 million and $.35 per share, respectively. For the quarter ended March 31, 1992, revenues, net earnings and earnings per share were $80.3 million, $4.1 million and $.17 per share, respectively. Compared to the same quarter last year, revenues, net earnings and earnings per share increased 25 percent, 86 percent and 55 percent, respectively. Revenues, net earnings and earnings per share for the quarter ended March 31, 1991, were $64.2 million, $2.2 million and $.11 per share, respectively. A summary of the company's financial results is set forth below. DeSantis also announced the expansion of senior management within the company. Greg Weishar was recently elected executive vice president-marketing and sales where he will head up such efforts on a corporate-wide basis. Weishar was formally a senior officer of PCS, Inc., the country's largest processor of prescription drug claims. In addition, Patrick Keefe was elected executive vice president- managed care, a position in which Keefe will have overall responsibility for the company's efforts in providing comprehensive pharmacy management services to health maintenance organizations and other managed care providers. Keefe was formerly president of the company's HPI Health Care Services, Inc., subsidiary, to which Jack Cronk was elected to succeed Keefe. Cronk was formerly a regional vice president of HPI. DeSantis said that the establishment of the new positions was a reflection of the company's substantial growth and would allow the company to better coordinate its marketing efforts to not only traditional benefits sponsor clients, but also to the rapidly expanding managed care market. DIAGNOSTEK, INC., AND SUBSIDIARIES (In thousands, except per share data) Periods ended Quarter Year March 31 1992 1991 1992 1991 Revenues $80,333 $64,192 $293,786 $225,143 Cost of sales 70,270 54,979 253,251 190,370 Operating expenses 4,706 4,781 19,188 20,188 Operating income 5,357 4,432 21,347 14,585 Other income (deductions) 957 (886) (358) (3,242) Earnings before income taxes 6,314 3,546 20,989 11,343 Income taxes 2,229 1,394 7,897 4,458 Net earnings $ 4,085 $ 2,152 $ 13,092 $ 6,885 Shares outstanding 24,480 20,100 21,637 19,830 Earnings per share $ .17 $ .11 $ .61 $ .35 -0- 6/4/92 /CONTACT: Vince Villanueva or Dennis Evans of Diagnostek, 505-345-8080; or Julius Golden of Group West, 505-883-6940, for Diagnostek/ (DXK) CO: Diagnostek, Inc. ST: New Mexico IN: HEA SU: ERN PER
GK -- NY051 -- 7036 06/04/92 12:16 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||Jun 4, 1992|
|Previous Article:||COHERENT INTRODUCES MEDICAL RESEARCH LASER|
|Next Article:||XOMA UPDATES FDA REVIEW STATUS OF E5|