Q-MED REPORTS FIRST-QUARTER RESULTS
Q-MED REPORTS FIRST-QUARTER RESULTS LAURENCE HARBOR, N.J., April 6 /PRNewswire/ -- Q-Med, Inc.
(NASDAQ: QEKG) today reported that net sales for the first quarter ended Feb. 29, 1992, increased 29 percent to $2,021,066 compared to net sales of $1,569,982 for the corresponding period of the prior year.
Net profits for the first quarter were $2,750 or zero cents per share, compared to a loss of $33,710 or 1 cent per share. Michael W. Cox, CEO of Q-Med, commented that the first quarter results were very encouraging. Cox said, "A 29 percent sales increase in our business accompanied with an increase in gross margins to 77 percent vs. 75 percent is exactly the type of growth we've been anticipating. Additionally, we were able to invest in excess of $100,000 in new sales representatives and their training during this quarter and still report a profit consistent with management's commitment to a positive bottom line and increasing shareholder value." Cox went on to say that he believed that the company was building a solid sales and marketing foundation in anticipation of the introduction of several new products scheduled for this fiscal year. Q-MED, INC. Quarters ended 2/29/92 2/28/91 Net sales $2,021,066 $1,569,982 Net income (loss) 2,750 (33,710) Average shares 6,640,315 6,640,315 Income per share -- $(0.01) -0- 4/6/92 /CONTACT: Michael W. Cox, president and CEO of Q-Med, 800-237-2039/ (QEKG) CO: Q-Med Inc. ST: New Jersey IN: HEA SU: ERN
TS-CK -- NY025 -- 5278 04/06/92 10:18 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||Apr 6, 1992|
|Previous Article:||U.S. EPA, UNIVERSAL CIRCUITS SETTLE RIGHT-TO-KNOW COMPLAINT|
|Next Article:||CFC APPLIED HOLOGRAPHICS CREATED THROUGH U.S./U.K. JOINT VENTURE|