reative Computer Applications Inc. Reports Sales and Earnings
for the Fiscal Year and Fourth Quarter Ended Aug. 31, 1999
CALABASAS, Calif.--(BUSINESS WIRE)--Nov. 22, 1999--Creative Computer Applications Inc. (AMEX:CAP - news), a provider of clinical information
systems for hospital and clinic-based laboratories, pharmacies and radiology departments, today announced its sales and earnings for the fiscal year and fourth
quarter ended Aug. 31, 1999.
Sales for the fiscal year ended Aug. 31, 1999, were $8,901,044, a new record, compared with sales of $6,448,370, for the fiscal year ended Aug. 31, 1998.
The company earned net income of $684,086, or $.23 per share after an income tax provision of $80,000, compared with a net loss of $648,903 or $.22 per
share, including a non-cash income tax benefit of $322,800 for the 1998 fiscal year.
Sales for the fourth quarter of fiscal 1999 were $2,440,577, a new record, compared with sales of $1,935,136 in the same quarter a year ago. The company
earned net income of $72,734 or $.02 per share, after an income tax provision of $80,000, compared with net income of $360,312 or $.12 per share, including
a non-cash income tax benefit of $322,800 in the same quarter one year ago.
Steven M. Besbeck, president and chief executive officer, stated: ``We are very pleased with the operating results for fiscal 1999. The company posted a 38
percent increase in sales and achieved record earnings notwithstanding a general weakness in the healthcare information systems marketplace due to Y2K issues.
``Although our fourth fiscal quarter profitability was impacted by lower margin Y2K remediation activities, we were able to balance those revenues against new
orders for our clinical information system products. The company also won several new key contracts for its suite of clinical information systems during the
fiscal year that adds to our expanding client base.'
Creative Computer Applications Inc.
Operating Results
(Audited)
Fiscal year Ended Aug. 31,
1998 1999
Net Sales and Service Revenues $ 6,448,370 $ 8,901,044
Net Income before Income Tax (Benefit) (971,703) 764,086
Income Tax (Provision) Benefit 322,800 (80,000)
Net Income (Loss) $ (648,903) $ 684,086
Earnings (Loss) Per Share (.22) .23
Quarter Ended Aug. 31,
1998 1999
Net Sales and Service Revenues $ 1,935,136 $ 2,440,577
Net Income before Income Tax Benefit 37,512 152,734
Income Tax (Provision) Benefit 322,800 (80,000)
Net Income $ 360,312 $ 72,734
Earnings Per Share .12 .02
Average Shares Outstanding (Basic) 2,901,003 2,979,060
Contact:
Creative Computer Applications Inc.
Steven M. Besbeck, 818/880-6700, ext. 252
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