SURGIDYNE REPORTS SECOND QUARTER AND SIX MONTHS PROFIT
SURGIDYNE REPORTS SECOND QUARTER AND SIX MONTHS PROFIT INVER GROVE HEIGHTS, Minn., July 15 /PRNewswire/ -- Surgidyne, Inc.
(the company) today announced second quarter 1992 results. The company reported a profitable second quarter as well as a profitable six months for operations through June 26, 1992.
SURGIDYNE, INC. Second Quarter Ended 1992 1991 Revenue $343,554 $262,259 Percent change 31 -- Net (loss) $33,842 $26,682 Net (loss) per share $.008 $.01 Six Months Ended Revenue $618,231 $440,817 Percent change 40 -- Net (loss) $39,297 $38,872 Net (loss) per share $.01 $.01 Revenues for the second quarter fiscal 1992 were 31 percent higher than for the same period in 1991, and the six months sales for 1992 were 40 percent greater than for the same period in 1991. The increased revenues in the second quarter were due primarily to repeat sales of its new postoperative orthopedic autotransfusion products to Baxter Healthcare Corporation. Baxter began introduction of the autotransfusion products to the U.S. Hospital in the first quarter of 1992, and completed rollout of the product to a national basis in July. The company expects its performance to continue to improve as Baxter penetrates the hospital market and as loyalty revenues under the exclusive license agreement with Baxter begin to be received in the third quarter. The company makes portable battery powered vacuum controllers and disposable suction and collection products for surgical wound drainage, postoperative orthopedic autotransfusion and other medical/surgical applications. The company's common stock is traded in the local over-the-counter market. The company's executive offices are located at 9605 West Jefferson Trail, Inver Grove Heights, Minn. 55077. -0- 7/15/92 /CONTACT: Charles B. McNeil of Surgidyne, 612-681-9235/ CO: Surgidyne, Inc. ST: Minnesota IN: MTC SU: ERN
MA -- MN023 -- 9786 07/15/92 18:25 EDT
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|Date:||Jul 15, 1992|
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