IMEX MEDICAL SYSTEMS ANNOUNCES RECORD SALES FOR YEAR
IMEX MEDICAL SYSTEMS ANNOUNCES RECORD SALES FOR YEAR GOLDEN, Colo., Sept. 10 /PRNewswire/ -- Imex Medical Systems, Inc.
(NASDAQ: IMEX) today announced significantly increased sales and earnings for the fiscal year that ended June 30, 1992. Net sales increased 24 percent to a record $9,796,282 compared to $7,888,792 from last year and earnings increased to $506,303 compared to the prior year's $308,801. Earnings per share increased 60 percent to $0.08 per share compared to $0.05 per share the previous year. These results were not affected by the June 30 acquisition of a product line and non- compete agreement from a major competitor.
"We are excited about the current prospects for Imex," said Dennis Newman, president and CEO. "The 24 percent increase in sales follows a 26 percent increase the year before, and earnings per share have now increased 60 percent each year for two years in a row. As we enter FY93, we're becoming a significant company in an emerging growth market, with a product acquisition, new products from our own R & D, and an expanded distribution system. With our acquisition, Imex is now the world's largest manufacturer of hemodynamic vascular diagnostic equipment. We've retained a very strong balance sheet after the acquisition." Based in Golden, Imex Medical Systems manufactures and markets medical instrumentation that compliments the major trends in health care including cost containment, the move to out patient care, and earlier awareness, diagnosis and treatment of cardiovascular disease -- the number one cause of death in the United States. FINANCIAL SUMMARY FISCAL YEAR ENDED 6/30/92 6/30/91 Revenues $9,796,282 $7,888,792 Net income $506,303 $308,801 Net income per common share $0.08 $0.05 Outstanding shares (weighted average) 6,530,844 6,239,925 -0- 9/10/92 /CONTACT: Dennis Newman, chairman, president and CEO of Imex Medical, 303-431-9400, or Mark Trinske of Metzger-Trinske Communications, 303-665-7760 or 303-786-7000, for Imex Medical/ (IMEX) CO: Imex Medical Systems, Inc. ST: Colorado IN: MTC SU: ERN
AL -- MN002 -- 7857 09/10/92 09:10 EDT
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|Date:||Sep 10, 1992|
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