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Thursday November 16, 5:14 pm Eastern Time
Press Release
SOURCE: Hypertension Diagnostics, Inc.
Hypertension Diagnostics Announces First Quarter FY 2001 Results
ST. PAUL, Minn., Nov. 16 /PRNewswire/ -- Hypertension Diagnostics, Inc. (Nasdaq: HDII; HDIIW; HDIIU), today announced financial results for the first fiscal quarter ended September 30, 2000.
The Company reported revenue of $448,804 in the first quarter of fiscal year 2001 relating to sales of its HDI/PulseWave(TM) CR-2000 Research CardioVascular Profiling System, a $377,306 increase over first quarter revenue from the same period a year earlier. The Company also reported a narrowing of the net loss for the period to $347,320 or $.07 per share compared to a loss of $688,735 or $.13 per share in the same period one year ago.
The Company announced earlier this month that it expects annual sales of the HDI/PulseWave(TM) CR-2000 Research CardioVascular Profiling System alone, including recently announced major sales to both Pfizer, Inc. and Solvay Pharmaceuticals, Inc., to more than triple the total fiscal year 2000 revenue of $423,490. The Company also announced it received clearance from the U.S. Food and Drug Administration (FDA) to market the CVProfilor(TM) DO-2020 CardioVascular Profiling System for use by physicians and other health care providers to screen patients for underlying vascular disease. Potential revenue from the CVProfilor(TM) DO-2020 System sales have not been included in the projected tripling of fiscal 2000 revenue. The Company's FDA clearance was contingent upon certain requests and requirements which were negotiated by HDI and which may require about eight weeks to fully implement before the product may be released to the marketplace. Therefore, it is anticipated that the marketing launch for the CVProfilor(TM) DO-2020 System will begin during the third quarter of the Company's 2001 fiscal year (that is, Jan.-Mar. 2001).
The HDI/PulseWave(TM) CR-2000 Research System is now being utilized by physicians and researchers in 16 countries throughout the world. These System users have contributed more than 20 new scientific publications to HDI's bibliography of more than 95 scientific and clinical abstracts and articles. The Company believes that these references strongly reinforce the scientific and clinical merit of the Company's arterial waveform analysis methodology, they help to expand the awareness for the CR-2000 Research System, and they broaden the understanding and clinical application for small artery elasticity as an early and sensitive marker for vascular disease. Additional information regarding the HDI and its products is available at www.hdi-pulswave.com.
Forward-looking statements in this press release are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company wishes to caution readers not to place undue reliance on any forward-looking statements and to recognize that the statements are not predictions of actual future results. Actual results could differ materially from those presented and anticipated in the forward-looking statements due to the risks and uncertainties set forth in the Company's 2000 Annual Report on Form 10-KSB under the caption ``Risk Factors'', as well as others not now anticipated.
(abridged at table)
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