MAITLAND, Fla.--(BUSINESS WIRE)--July 15, 1997--Dynamic Healthcare Technologies,
Inc. (Nasdaq: DHTI) today announced that revenues and EPS for the second quarter ending June
30, 1997 will fall below First Call analysts' consensus estimates. The Company also reported a
140% growth in new systems backlog; to a record of over $12 million as compared to the $5
million for the period ending March 31, 1997.
The Company believes that the shortfall for the quarter is due primarily to a delay in the signing of
two significant contracts, expected to result in approximately $2.5 million of second quarter
revenues, which are expected to be recognized in the third quarter 1997. If these two deliveries had
occurred during the second quarter, the operating results would have achieved analysts'
expectations and new system backlog would still have almost doubled the level reported three
months prior.
The Company estimates that second quarter 1997 net revenues will approximate $7.5 million
compared to total revenue of $4 million for the second quarter of 1996. These lower revenues will
result in an EPS loss for the second quarter 1997 of approximately $0.10 per share as compared to
earnings of $0.02 for the second quarter of 1996.
Mitchel J. Laskey, President and CEO of Dynamic commented, "As with any emerging growth
company at the earnings inflection point, quarterly volatility is not uncommon. However, with the
growth in our new systems backlog reaching a record of over $12 million, our current annualized
recurring maintenance revenues of $12.5 million, and late second quarter DynamicVision(TM) sales
of more than $2 million, we remain optimistic that 1997 annual estimates are expected to be
achieved." |
