SEISMED INSTRUMENTS REPORTS RESULTS
SEISMED INSTRUMENTS REPORTS RESULTS MINNEAPOLIS, Dec. 31 /PRNewswire/ -- Seismed Instruments, Inc.
(NASDAQ: SEIS) today announced the financial results for its fiscal year ended Sept. 30, 1991. Net sales for the fourth quarter and twelve months ended Sept. 30, 1991, were $42,485 and $80,805 respectively. The company reported a net loss for the fourth quarter and twelve months ended Sept. 30, 1991, of $.27 and $.96 per share respectively.
Seismed Instruments in engaged in the development and marketing of noninvasive diagnostic cardiology instrumentation. The company's first product, the SCG-2000 seismocardiograph is used in conjunction with routine stress testing to evaluate the biomechanical performance of the heart. The addition of the relatively easy SCG to the standard exercise EKG test procedure significantly improves diagnostic accuracy and helps physicians in the early detection of coronary artery disease. This increased diagnostic accuracy was confirmed in a multicenter SCG study complete in September. With the additional clinical research confirming the clinical usefulness of seismocardiology, the company has expanded its distribution network in the U.S., European and Japanese markets over the past six months. SEISMED INSTRUMENTS, INC. Statements of Operations Fourth Quarter Ended Twelve Months Ended 9/30/91 9/30/90 9/30/91 9/30/90 Net sales $42,485 $62,683 $80,805 $73,838 Net loss (871,047) (523,570) (2,634,999) (1,624,625) Loss per share $(0.27) $(0.24) $(0.96) $(0.77) Average common shares outstanding 3,264,043 2,213,399 2,750,250 2,114,484 -0- 12/31/91 /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 -- MN005 -- 5951 12/31/91 16:44 EST
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|Date:||Dec 31, 1991|
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