Creative Computer Applications Inc. Reports Sales and Earnings for the First Fiscal Quarter Ended November 30, 1999
CALABASAS, Calif.--(BUSINESS WIRE)--Jan. 10, 2000--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 its first fiscal quarter ended November 30, 1999.
Sales for the first quarter ended November 30, 1999, were $2,506,187, a new record, compared with sales of $1,878,289 for the comparable quarter ended November 30, 1998. The company earned net income of $157,332, or $0.05 per share, including a non-cash income tax provision of $134,000, compared with net income of $43,142, or $0.01 per share, for the comparable quarter.
Steven M. Besbeck, president and chief executive officer, stated: ``We are pleased with the operating results for our first fiscal quarter of 2000. The company achieved a 33% increase in sales notwithstanding a general weakness in the healthcare information systems marketplace due to Y2K issues. Our first fiscal quarter profitability was impacted by lower margin Y2K remediation activities; however we did receive new orders for our clinical information system products, which resulted in better margins and an increase in earnings. It should also be noted that the company's earnings are now fully taxed in comparison to prior periods where there was little or no tax provision due to tax loss carry forwards.'
Creative Computer Applications Inc.
Operating Results (Audited)
Quarter Ended November 30, 1998 1999
Net Sales and Service Revenues $1,878,289 $2,506,187
Net Income before Income Tax (Benefit) 57,952 291,332
Income Tax Provision 0 134,000
Net Income $ 43,142 $ 157,332
Earnings Per Share (Basic) $ .01 $ .05
Average Shares Outstanding (Basic) 2,920,740 3,122,925 |
