Printer Friendly

MEDICAL DEVICES, INC. REPORTS FOURTH QUARTER RESULTS AND FISCAL YEAR-END RESULTS

 MEDICAL DEVICES, INC. REPORTS FOURTH QUARTER RESULTS
 AND FISCAL YEAR-END RESULTS
 ST. PAUL, Minn., Sept. 4 /PRNewswire/ -- Medical Devices, Inc. (NASDAQ: MDEV) (MDI), today reported results for the fourth quarter and fiscal year ended June 30, 1992.
 Net sales for the fourth quarter were $957,221 compared to $1,520,131 in fourth quarter of fiscal 1991. Fiscal year-end net sales were $4,385,915 compared to $6,249,014 a year ago. The company reported a net loss of $413,648 or $.20 per share in this year's fourth quarter versus a net loss of $124,551 or $.06 per share in last year's fourth quarter. For fiscal year 1992, the net loss is $1,062,810 or $.51 per share versus net earnings of $93,395 or $.05 per share in the prior year.
 The fourth quarter loss is at plan levels and, on a pre-tax basis, is less than the loss reported for the third quarter, reflecting the positive trend management has planned and expected. This fourth quarter loss, when added to the prior nine months' loss, reflects the final adjustments in dealer warranty, repair costs and receivables and for slow moving inventory. These adjustments were anticipated and occurred in the fourth quarter as the company continued to accelerate its change in marketing efforts begun in mid-fiscal year 1992. This new marketing effort is a shift from an exclusive stocking distributor based organization to a direct selling effort through the company's Rehabilicare Systems Division, along with continued relations with key dealers. Rehabilicare System's sales and significantly higher margins are planned to begin to very positively impact 1993 results by the middle of the fiscal year.
 Medical Devices, Inc. is a leading designer and manufacturer of electromedical rehabilitation and pain management products. The company's common stock is traded on the national over-the-counter market under the NASDAQ symbol MDEV.
 -0- 9/4/92
 /CONTACT: David B. Kaysen, president and CEO, or Jeffrey P. Shields, vice president - finance, 612-631-0590, both of Medical Devices/
 (MDEV) CO: Medical Devices, Inc. ST: Minnesota IN: MTC SU: ERN


DS -- MN009 -- 7119 09/04/92 17:26 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:Sep 4, 1992
Words:353
Previous Article:NEW YORK POWER AUTHORITY STATEMENT ON IPPNY COMMENTS
Next Article:USAIR REPORTS AUGUST TRAFFIC
Topics:


Related Articles
CABOT MEDICAL ANNOUNCES RECORD QUARTER AND FISCAL YEAR END RESULTS; COMPANY ONCE AGAIN ATTAINS RECORD SALES AND EARNINGS
MEDICAL DEVICES REPORTS THIRD QUARTER RESULTS
MEDTRONIC EARNINGS INCREASE 21.1 PCT. ON STRONG MARKET SHARE TRENDS
MEDICAL DEVICES ANNOUNCES FIRST QUARTER RESULTS
MEDICAL DEVICES, INC. ANNOUNCES RECORD FISCAL YEAR REVENUES AND A 311% INCREASE IN NET INCOME
BIOMET ANNOUNCES RECORD FISCAL YEAR AND FOURTH QUARTER RESULTS
Novametrix Reports Fiscal 1997 Fourth Quarter and Year End Results
Luther Medical Products, Inc. Announces Fiscal Year End Results; Domestic Sales Show 86 Percent Growth
Possis Medical, Inc. Announces Preliminary, Unaudited Fourth Quarter and Fiscal 1999 Results.
Possis Medical, Inc. Reports Fourth Quarter and Fiscal 1999 Results.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters