WORK RECOVERY INC. REPORTS INCREASED SALES AND PROFITS
WORK RECOVERY INC. REPORTS INCREASED SALES AND PROFITS TUCSON, Ariz., Feb. 5 /PRNewswire/ -- Work Recovery Inc.
(NASDAQ: WORK), a Tucson manufacturer of diagnostic health care equipment, today announced results of second quarter operations for the sale of its ERGOS (tm) Work Simulator and Transition Work Stations. The company's equipment is used by medical/vocational rehabilitation specialists for testing the level of functional disability and authenticity of a worker's injury in the workers' compensation claims process. The company's products are sold to hospitals, private physical therapy clinics, rehabilitation centers and employers throughout the United States and Canada.
In announcing the second quarter results, Work Recovery Inc. reports sales of $1,294,000, representing a 10 percent increase over the same quarter last fiscal year. The quarter also showed increased profits of $174,000, compared to $152,473, or a 14 percent increase, for the same period last year. Earnings per share for the quarter were $.04. WORK RECOVERY INC. HIGHLIGHTS OF OPERATIONS Second Quarter 1992 Quarter ended Six months ended December 1991 December 1991 Sales $1,294,000 $2,355,513 Net income 174,000 183,888 Average shares 4,604,259 4,604,259 Earnings per share $.04 $.04 Thomas L. Brandon, president of Work Recovery Inc., will be a presenter at the International Association of Industrial Accident Boards and Commission's (IAIABC) Fourth Annual Workers' Compensation Issues Forum, to be held in Newport Beach, Calif., from Feb. 23-26, 1992. The featured presentation will provide excellent visibility to Work Recovery Inc.'s future role in meeting the challenges of workers' compensation in the 1990s. Brandon further announced that terms have been reached on a letter of agreement for exclusive licensing of the company's technology for use in Australia and New Zealand. The physician-owned company intends to open 12 comprehensive workers' compensation treatment centers over a 24-month period in Australia and New Zealand. -0- 2/5/92 /CONTACT: Thomas L. Brandon, president, or Nancy Bommer (investors) of Work Recovery, 602-322-6634 or 800-332-ERGO/ (WORK) CO: Work Recovery Inc. ST: Arizona IN: HEA SU: ERN
CH -- LA010 -- 7118 02/05/92 11:08 EST
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|Date:||Feb 5, 1992|
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