I don't understand your question. In the news, it clearly indictes sales for the third quarter. Earning for last 9 months was 30 cents/share. The stock should be around $6.00 (0.3 x PE: 20=6.00)
Medical Industries of America Inc. Announces Third Consecutive
Profitable Quarter
BOYNTON BEACH, Fla.--(BW HealthWire)--Nov. 13, 1997--Medical Industries of America Inc. (NASDAQ:MIOA - news) Thursday reported that sales for the third quarter, ended Sept. 30, 1997, for continuing operations were $1,189,419, a 364% increase over sales for continuing operations of $256,196 posted for the third quarter, ended Sept. 30, 1996.
Net income for the current reporting period for continuing operations totaled $600,569, or $.10 earnings per share, as compared to a loss of $335,155, or $.33 loss per share, reported for the previous year's continuing operations.
Sales for the nine months ended Sept. 30, 1997 for continuing operations totaled $4,292,387, a 360% increase over sales of
$931,272 reported for continuing operations in the comparable previous year's reporting period. Net income for the nine months ended Sept. 30, 1997 for continuing operations was $1,454,000, or $.32 earnings per share, as compared to net losses of $1,884,616 for continued operations, or $2.56 loss per share.
Paul Pershes, president of Medical Industries of America, stated: ''In spite of the fact that the third quarter historically reflects
the company's weakest financial performance during the year due to the dynamics related to Florida retirees returning North for the summer, we are delighted to report, yet again, that our corporate objectives for achieving sustained profitability have been met. In fact, our own expectations for the third quarter have been exceeded, further building confidence that Medical Industries is on track to deliver its first fully profitable fiscal year in the history of the company.''
Medical Industries of America Inc. operates several multi-specialty medical group practices, and is rapidly expanding in the areas
of physician practice management and in the delivery of diversified medical technologies, products and services. The company
also provides diagnostic and therapeutic healthcare services to the surgical and medical community through its mobile cardiac
catheterization services to hospitals and physician practices primarily in the State of Florida.
MEDICAL INDUSTRIES OF AMERICA INC.
CONSOLIDATED STATEMENT OF OPERATIONS
(Unaudited)
3 Mos. Ended Sept. 30, 9 Mos. Ended Sept. 30,
1997 1996 1997 1996
---------- ---------- ---------- ----------
Revenue $1,189,419 $ 256,196 $4,292,387 $ 931,272
Income (Loss) -
Continuing
Operations 600,569 (335,155) 1,454,000 (1,884,616)
Net Income
(Loss) 596,834 (736,436) 1,354,235 (2,868,040)
Earnings (Loss)
Per Share From
Continuing
Operations $ .10 $ (.33) $ .32 $ (2.56)
Earnings (Loss)
Per Share From
Discontinued
Operations $ -- $ (.40) $ (.02) $ (1.33)
TOTAL EARNINGS
(LOSS) PER
SHARE $ .10 $ (.73) $ .30 $ (3.89)
Weighted Average
Number of Shares
Outstanding 5,882,999 1,005,757 4,495,398 736,648
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