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HelpMate Robotics Inc. Announces 1Q Results.

DANBURY, Conn.--(BUSINESS WIRE)--May 4, 1997--HelpMate Robotics Inc. (NASDAQ:HELPU, HELP, HELPW; PSE:HLP) announced today the results for the first quarter ended March 31, 1997.

Total revenues increased by $351,142 or 75% from the quarter ended March 31, 1996 compared to the quarter ended March 31, 1997. Rental revenues increased by $65,475 or 26% and sales revenues increased by $131,131 or 62%. The Company also earned revenues from research and development contracts of $154,536 during the quarter ended March 31, 1997 as a result of phase II of a NASA sponsored program entitled "Two Armed, Mobile, Sensate Research Robot."

The increase in rental revenues is reflective of the Company's expanded fleet of rental units which at March 31, 1997 was 61, a 27% increase from the 48 units under rent at December 31, 1996. The increase in sales revenues was attributable to an increase in sales of robotic components to universities and researchers around the world coupled with the sale of one HelpMate compared to the quarter ended March 31, 1996 where no HelpMates were sold.

Gross profit increased by 233% or $194,702 from the quarter ended March 31, 1996 compared to the quarter ended March 31, 1997. The increase in gross profit percentage and dollars for the quarter reflects the Company's ongoing strategy to reduce costs associated with manufacturing and installing its HelpMate robots coupled with the fact that several of the Company's rental units are now fully depreciated.

Selling, General and Administrative Expenses decreased by $260,787 or 32% from the quarter ended March 31, 1996 compared to the quarter ended March 31, 1997 which reflects the Company's on going efforts to control costs and reduce its unabsorbed overhead.

"We are very pleased with our progress to date," said Joseph F. Engelberger, Chairman of the Board of HelpMate Robotics, Inc. (HRI). "As previously announced, the Company obtained Federal Supply Schedule Contract No. V79P-3508k from the Department of Veteran's Affairs which means that orders can be placed from federal health care facilities without being submitted for competitive bidding and we anticipate obtaining additional working capital financing during the Summer of 1997 which will allow HRI to utilize an existing commitment for up to $5 million in additional rental financing and up to $10 million in lease financing. In the interim, HRI will continue to actively seek additional financing alternatives in order to strengthen its liquidity situation in the short term. Our flagship product has been well-received and is being widely accepted. We are confident of the future." -0-

 HelpMate Robotics Inc.
 Statements of Operations (Unaudited)

 Three months ended March 31,
 1997 1996 % Change
Revenues:
Sales revenues $344,069 $212,938 62%
Rental revenues 317,747 252,272 26%
Research &
development contracts 154,536 - 100%
Total revenues 816,352 465,210 75%
Total costs of revenues 538,725 381,785 41%
Gross profit 277,627 83,425 233%
Operating expenses 834,720 901,305 (7%)
Operating loss (557,093) (817,880) (32%)
Net loss applicable to
 common stock ($0.10) ($0.21) (52%)
Weighted average. number of shares
 of common stock outstanding 6,288,507 4,572,365
-0-




This release contains forward-looking statements and the Company's actual results may differ if (a) the mix of robot rentals versus sales changes; (b) existing orders get canceled; (c) the Company's own order/installation forecast changes and (d) the Company is unable to secure additional financing.

HelpMate Robotics Inc. designs, manufactures and markets proprietary autonomous robot systems primarily for use by the institutional health care industry in the U.S., Canada, Japan and Europe, The Company's flagship product, HelpMate, is used in hospitals for round-the-clock: transport of medications, sterile supplies, specimens, films, medical records and meal trays. It travels between departments and nursing stations, riding elevators automatically and navigating hallways without the need for fixed tracks or guide wires.

CONTACT: HelpMate Robotics Inc.

Thomas K. Sweeny, President, 203/798-9888
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Publication:Business Wire
Date:May 4, 1997
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Previous Article:Everest Reinsurance Holdings Reports 36.9% Increase in First Quarter 1997 Operating Earnings.
Next Article:3Dlabs reports first quarter 1997 results.


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