CAP Amex 1.25:
(BSNS WIRE) Creative Computer Applications, Inc. Reports Sales and Earnings
Creative Computer Applications, Inc. Reports Sales and Earnings for the Fourth
Quarter and Fiscal Year Ended August 31, 2002
Business Editors
CALABASAS, Calif.--(BUSINESS WIRE)--Nov. 19, 2002--Creative
Computer Applications, Inc., or CCA, (AMEX:CAP), a leading provider of
Clinical Information Systems (CIS) for hospital and clinic-based
laboratories, pharmacies and radiology departments announced today its
sales and earnings for the fourth quarter and fiscal year ended August
31, 2002.
Sales for the fourth quarter of fiscal 2002 were $2,187,057
compared to sales of $1,817,859 in the same quarter of fiscal 2001.
The Company earned net income of $224,639 or $.07 per basic and
diluted share, compared to net income of $206,077 or $.06 per basic
and diluted share for the same period one year ago. The net income
figures for 2001 were exclusive of a provision for income taxes as the
company had an accumulated net loss for the year.
Sales for the fiscal year ended August 31, 2002 were $7,831,017
compared to sales of $5,953,014 for the fiscal year ended August 31,
2001. The Company earned net income of $431,659 or $.13 per basic and
diluted share compared to a net loss of $(512,650) or $(.16) per basic
and diluted share.
Steven M. Besbeck, President and CEO, stated, "We are pleased with
the results of operations for our fourth fiscal quarter and fiscal
year, ended August 31, 2002. We believe the results continue to
indicate that the Company has successfully turned its business around
from the industry wide slump of 2001 and 2000. The year over year
increase in sales was primarily attributable to an increased number of
CIS sales to new accounts in the past fiscal year, as well as renewed
sales activities with our installed base for additional applications,
hardware upgrades, and professional services. We are experiencing
increased interest in our CIS products that we believe is partially
fueled by the demand for applications that help healthcare providers
address the regulations associated with the Health Insurance
Portability and Accountability Act (HIPAA) in addition to concerns
about patient care and safety issues."
CCA, based in Calabasas, California, is a leading healthcare
information technology and service provider specializing in Clinical
Information Systems (CIS) software, services and browser-based
solutions for hospital and clinic-based laboratories, pharmacies and
radiology departments. CCA's primary products -- CyberLAB(R),
CyberMED(R), and CyberRAD(R) -- are highly functional, scalable, and
can be deployed in a variety of healthcare settings. CCA's systems are
currently in use in more than 500 sites. For more information about
CCA, its products and services, visit ccainc.com.
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Creative Computer Applications, Inc.
Operating Results (Audited)
Quarter Ending August 31, 2002 2001
Net Sales and Service Revenues $2,187,057 $1,817,859
Net Income $224,639 $206,077
Basic and Diluted Earnings Per Share $.07 $.06
Fiscal year Ending August 31, 2002 2001
Net Sales and Service Revenues $7,831,017 $5,953,014
Net Income (Loss) $431,659 $(512,650)
Basic and Diluted Earnings (Loss) Per Share $.13 $(.16)
Average Shares Outstanding (Basic) 3,243,317 3,188,375
(Diluted) 3,310,286 3,188,375
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This press release contains forward-looking statements made in
reliance upon the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are
inherently subject to uncertainties and other factors, which could
cause actual results to differ materially from the forward-looking
statement. The Company refers interested persons to its most recent
Annual and Quarterly Report on Forms 10-KSB, and its other SEC filings
for a description of additional uncertainties and factors, which may
affect forward-looking statements.
--30--MRA/la* JAP/la
CONTACT: Creative Computer Applications, Inc., Calabasas
Steven M. Besbeck, 818/880-6700, ext. 252
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: MEDICAL SOFTWARE EARNINGS
SOURCE: Creative Computer Applications, Inc.
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