Dynamic Healthcare Technologies, Inc. reports record
revenue and earnings
Business Wire - April 29, 1997 08:32
FINANCIAL DYNAMIC-HEALTHCARE DHTI FLORIDA COMED COMPUTERS ELECTRONICS
MEDICINE EARNINGS V%BW P%BW
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MAITLAND, Fla.--(BUSINESS WIRE)--April 29, 1997--Dynamic Healthcare Technologies,
Inc. (Nasdaq: DHTI) today announced operating results for the first quarter ended March 31,
1997, reporting record quarterly revenues of $9,670,000 and net income of $3,032,000 for the
quarter. Revenues for the three months ended March 31, 1997 increased by $7,360,000 over
revenues for the same period 1996, an increase of more than 300%. Net income for the quarter
ended March 31, 1997 was $.17 per share, up $.23 per share from the results reported for the
same quarter last year.
Management believes that several transactions, events and relationships formalized in 1996
significantly affected results for the first quarter and/or have provided continuing growth
opportunities for the Company. These include:
-- Completing a successful secondary offering raising capital of
$24 million
-- Announcing and bringing to market DynamicVision(TM), a "next
generation" multimedia electronic health record
-- Completing two acquisitions (Dimensional Medicine, Inc. and
Collaborative Medical Systems, Inc.)
-- Completing numerous strategic partnership agreements
The Company will continue to position itself for both internal and external growth consistent with
its business plan.
Mitchel J. Laskey, Dynamic's president and chief executive officer, stated: "I am pleased with our
continued progress. As the delivery systems of healthcare continue to evolve, our challenge is to
provide information technology solutions to meet the business problems that are created by
change. I believe that our internal and external growth strategy will position the Company to meet
these challenges."
Dynamic Healthcare Technologies, Inc. develops, markets and supports enterprise-wide
information solutions that enable the efficient capture, storage, archival and retrieval of electronic
health information and the world-wide sharing of the information across the continuum of care.
Headquartered in Maitland, FL, the Company maintains a Radiology Technology Center in
Minnetonka, MN, and a Clinical Solutions Center in Waltham, MA.
(Table Follows)
Editors Note: This release is available on noonanrusso.com.
This press release contains forward looking statements that involve a number of risks and
uncertainties. Among the important factors that could cause actual results to differ materially from
those indicated by such forward looking statements are quarterly financial results, seasonal
patterns of sales and client behavior, changing economic and regulatory influences on the
healthcare industry, the development by competitors of new or superior technologies or entry into
the market of new competitors, dependence on intellectual property rights, delays in product
development, the Company's dependence on key personnel, possible regulation of the
Company's software by the U.S. Food and Drug Administration, volatility of the Company's
stock price and other risks detailed from time to time in the Company's reports and registration
statements filed with the Securities and Exchange Commission.
Dynamic Healthcare Technologies
Selected Financial Data
(Unaudited)
Three Months Ended
March 31,
1996 1997
Operating revenues:
Computer system equipment sales and support $475,068 $464,155
Application software licenses 270,267 5,128,138
Software support 1,009,164 2,313,381
Services and other 555,339 1,764,485
Total operating revenues 2,309,838 9,670,159
Costs and expenses:
Cost of products sold 404,311 577,343
Client services expense 752,449 2,413,833
Software development costs 348,259 1,192,119
Sales and marketing 683,674 1,449,371
General and administrative 444,603 1,184,631
Total costs and expenses 2,633,296 6,817,297
Operating income (loss) (323,458) 2,852,862
Other income (expense):
Interest expense and financing costs (77,681) (9,607)
Interest income and other 34,228 188,988
Total other income (expense) (43,453) 179,381
Net earnings (loss) before income taxes (366,911) 3,032,243
Income taxes - current -- --
Net earnings (loss) $ (366,911) $ 3,032,243
Earnings (loss) per common share
primary and fully diluted $ (.06) $ 0.17
Weighted average number of common
and common equivalent shares outstanding 6,611,646 17,637,238
DynamicVision is a trademark of Dynamic Healthcare Technologies,
Inc.
CONTACT: Dynamic Healthcare Technologies
Mary Lu Lander (media)
Vice President, Marketing
mlander@dht.com
Mitchel J. Laskey (investors)
President and Chief Executive Officer
mlaskey@dht.com
1-800-832-3020
or
Noonan/Russo Communications, Inc.
212-696-4455 ext. 274
Jessica Livingston (investors) ext. 229
Heather Hennessy (media) ext. 274
e-mail: news@noonanrusso.com
REPEATS: New York 212-752-9600 or 800-221-2462; Boston 617-236-4266 or
800-225-2030; SF 415-986-4422 or 800-227-0845; LA 310-820-9473
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