CMED Reports 97 EOY 48% increased Sales & 55% increased Earnings
Colorado MEDtech Inc. announces year end and fourth quarter results
BusinessWire, Monday, September 08, 1997 at 09:53
BOULDER, Colo.--(BW HealthWire)--Sept. 8, 1997--Colorado MEDtech
Inc. (NASDAQ:CMED), a Boulder-based custom medical products and
services company, today announced record sales and earnings results
for the year ended June 30, 1997 and the fourth quarter ended June
30, 1997.
Net income for the year increased to $2.5 million compared to
$1.6 million for fiscal 1996, an increase of 55% on sales of $28.2
million compared to sales of $19.1 million in the prior year, an
increase of 48%. Earnings per share rose to 23 cents per share
compared to 17 cents in the prior year.
Net income in the fourth quarter increased to $863,000 compared
to $576,000 in the fourth quarter last year, an increase of 50% on
sales of $8.7 million compared to $5.2 million in the fourth quarter
of the prior year, an increase of 68%. Earnings per share increased
to 8 cents per share compared to 6 cents in the fourth quarter of
the prior year.
*T
EARNINGS RECAP
Three Months Ended Fiscal Year Ended
June 30, June 30,
1997 1996 1997 1996
(unaudited)
Sales & service $8,694,654 $5,168,625 $28,243,185 $19,130,979
Net income 862,842 575,885 2,479,617 1,596,602
Net income per common
and common equivalent
share
Primary $ .08 $ .06 $ .24 $ .21
Fully diluted $ .08 $ .06 $ .23 $ .17
Weighted average common
and common equivalent
shares outstanding
Primary 11,402,254 10,918,084 11,232,009 7,766,805
Fully diluted 11,402,254 10,918,084 11,232,009 10,692,702
*T
"This is our fourth consecutive year of improved profitability,"
said John V. Atanasoff, Colorado MEDtech President and CEO. "Our
success is a result of exciting new opportunities, significantly
increased development and manufacturing capabilities, our strategic
planning and the outstanding work of our employees. Our acquisition
of Novel Biomedical Inc. in February, 1997, and our recently
announced planned acquisition of Erbtec Engineering Inc. should
provide further growth opportunities for the future."
Colorado MEDtech is an integrated custom product development and
manufacturing services company specializing in the design,
development, and manufacture of electronic and electromechanical
products and software systems for the medical device industry.
CONTACT: Colorado MEDtech Inc.
John V. Atanasoff or Bruce L. Arfmann, 303/530-2660
E-mail: cmed@rela.uucp.netcom.com
Website: www.cmed.com
KEYWORD: COLORADO
INDUSTRY KEYWORD: MEDICINE EARNINGS
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