I think this is very important for this company also, especially the recurring revenue and earnings stream part. :-)
D. Michael Deignan, President & CEO of Vasomedical, commented, ``The fiscal 2001 third quarter is Vasomedical's eighth consecutive profitable quarter, with net earnings increasing for the last five successive quarters. Also of importance is the Company's strong quarter-to-quarter revenue growth, with fiscal 2001 third quarter revenues exceeding the second quarter by 10%. Total units placed grew at 33% in the third quarter versus the second quarter as a result of rental and fee-per-use programs. These commercial arrangements should enable us to grow our market at a faster pace as well as establish a base of business that will provide a recurring revenue and earnings stream. The Company recently executed a long-term agreement, subject to certain terms and conditions, utilizing a `fee-per-use' arrangement with an established EECP® provider, HeartGen Centers, Inc., based in Arizona. HeartGen's business model consists of establishing dedicated EECP® centers in specified cities as well as developing turn-key programs to physicians to facilitate the acquisition of EECP® systems.'' |
