Vasomedical Reports Record 2001 Fourth Quarter and Year End Results
biz.yahoo.com
WESTBURY, N.Y.--(BW HealthWire)--Aug. 8, 2001--Vasomedical, Inc. (Nasdaq SmallCap: VASO - news), a leader in the field of noninvasive treatment for cardiovascular diseases, today announced record financial results for the fourth quarter and year ended May 31, 2001, reporting $27.5 million in revenues, a year-to-year improvement of $13.8 million or 101%.
Net earnings reported were $11.7 million, or $.21 per basic share and $.20 per diluted share, compared to $1.6 million, or $0.03 per share (basic and diluted) last year.
Revenues for the fourth quarter of 2001 increased 93% to $8.7 million from $4.5 million in the same period last year. Net earnings for the fourth quarter of 2001 were $6.8 million, or $0.12 per basic share and $.11 per diluted share, compared to net earnings of $1.0 million, or $.02 per share (basic and diluted), in the same period last year. Net earnings for the fourth quarter were positively impacted by the recognition of deferred tax assets and the resulting deferred tax benefit of $5.3 million, or $.09 per share (basic and diluted), in 2001 compared to $400,000, or $.01 per share (basic and diluted), in 2000.
Earnings before income taxes (EBIT) for fiscal 2001 were $5.2 million, a year-to-year improvement of $3.9 million or 306%. EBIT for the fourth quarter of fiscal 2001 was $1,595,000 compared to $623,000 in the fourth quarter of fiscal 2000, representing an improvement of 156%. |
