SEISMED INSTRUMENTS ANNOUNCES RESULTS
SEISMED INSTRUMENTS ANNOUNCES RESULTS MINNEAPOLIS, Jan. 17 /PRNewswire/ -- Seismed Instruments, Inc.
(NASDAQ: SEIS) today announced sales and net income for the first quarter ended Dec. 31, 1991. Net sales for the quarter ended Dec. 31, 1991, were $54,593. The company reported a net loss for the quarter ended Dec. 31, 1991, of $.29 per share.
Sandra J. Garlough, president and chief executive officer of Seismed Instruments said, "We have been working over the past several months to build our sales and distribution network. Our three regional sales managers have identified 16 manufacturer's representatives in the U.S. who are now selling the seismocardiograph. We have also identified stocking distributors in 12 countries including Japan, Australia, Spain, Canada, Korea and Taiwan. Our main focus is to support the international sales efforts to increase revenues." Seismed Instruments has developed and is marketing the SCG-2000 seismocardiograph. The seismocardiograph noninvasively measures the vibrational waves of the cardiac cycle. An accelerometer (similar to the transducers used to measure earthquakes) is placed on a patient's chest and records a waveform produced by the beating heart. When seismocardiography (SCG) is used in conjunction with routine stress electrocardiography (ECG) the SCG significantly improves the diagnostic accuracy of stress testing for the detection of coronary artery disease. SEISMED INSTRUMENTS First Quarter Ended 12/31/91 12/31/90 Net sales $54,593 $29,248 Net loss (946,186) (530,547) Loss per share $(.29) $(.24) Average common shares outstanding 3,269,868 2,213,399 -0- 1/17/92 /CONTACT: Sandra J. Garlough, president and CEO of Seismed Instruments, 612-473-5151/ (SEIS) CO: Seismed Instruments, Inc. ST: Minnesota IN: MTC SU: ERN
AL -- MN012 -- 1142 01/17/92 17:00 EST
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|Date:||Jan 17, 1992|
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