Hypertension Diagnostics achieves 1st quarterly profit ever.
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Tuesday February 13, 8:15 am Eastern Time
Press Release
SOURCE: Hypertension Diagnostics, Inc.
Hypertension Diagnostics Announces Second Quarter FY 2001 Profit
ST. PAUL, Minn., Feb. 13 /PRNewswire/ -- Hypertension Diagnostics, Inc. (Nasdaq: HDII; HDIIW; HDIIU), today announced that as a result of a significant increase in sales of its HDI/PulseWave(TM) CR-2000 Research CardioVascular Profiling System, it achieved its first quarterly profit in the history of the company during its second quarter ended December 31, 2000.
The Company recorded sales revenue of $1,204,500 in the second quarter of fiscal year 2001 relating to the HDI/PulseWave(TM) CR-2000 Research CardioVascular Profiling System, compared to revenue of $57,499 in the second quarter of fiscal year 2000. For the six-month period ended December 31, 2000, sales revenue was $1,653,304, compared to $128,997 for the same period one year ago. Company officials noted that due to quarter-to-quarter revenue volatility, the $1,204,500 sales revenue in the quarter ended December 31, 2000 is not indicative of anticipated quarterly sales revenue for the remainder of fiscal year 2001.
Net income for the second quarter of fiscal year 2001 was $1,510 or $.00 per share, essentially breakeven, compared to a net loss for the same quarter in fiscal year 2000 of $(958,991) or $ (.19) per share. The net loss for the six months ended December 31, 2000 was $(345,810) or $(.07) per share, compared to a net loss of $(1,627,726) or $(.32) per share for the six months ended December 31, 1999.
Company president Greg H. Guettler commented, ``We are pleased to have achieved profitability during the quarter. However, more important is the credibility that we expect to evolve as a result of our profiling systems being utilized in five pharmaceutical company studies. These companies include Alteon, Inc., AstraZeneca, LP, Parke-Davis, Pfizer, Inc. and Solvay Pharmaceuticals, Inc. While the results of the quarter were strengthened by the sales recorded to support the studies, they do indicate positive momentum for our fully developed, patented, scientifically validated and FDA cleared medical technology.'' Mr. Guettler concluded, ``We are just now beginning to address the sizeable market opportunity that exists for our cardiovascular profiling systems in the doctor's office.''
Hypertension Diagnostics, Inc. designs, develops, manufactures and markets proprietary medical devices to non-invasively detect subtle changes in the elasticity of large and small arteries, which may identify the potential for underlying vascular disease that might require more specific diagnostic evaluation.
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