Colorado MEDtech Inc. Announces Second Quarter and Six-Month Results
Thursday February 5, 10:26 am Eastern Time, Company Press Release
BOULDER, Colo.--(BW HealthWire)--Feb. 5, 1998--Colorado MEDtech Inc.
(NASDAQ:CMED - news), a Boulder-based medical products and services
company, today announced record results for its second quarter and
six-month period ended Dec. 31, 1997.
Net income in the second quarter increased to $943,079 compared to
$491,734 in the second quarter last year (an increase of 92%) and
earnings per share increased to 8 cents per share compared to 6 cents
per share with a 37% increase in the number of common equivalent
shares outstanding on a diluted basis. Sales in the second quarter
increased approximately 111% over the same period in 1996 ($12.2
million compared to $5.8 million) and increased approximately 68%
over the first quarter of fiscal 1997.
Net income through the six-months ended Dec. 31, 1997, increased to
$1,606,788 compared to $945,069 for the same period last year (an
increase of 70%) on sales of $19.4 million compared to $11.1 million
in the same period of the prior year. Earnings per share through the
six-months were 13 cents compared to 11 cents in the prior year with
a 36% increase in the number of common equivalent shares outstanding
on a diluted basis.
''The growth of our base business and our acquisition strategy both
contributed to our second quarter performance,'' said John V.
Atanasoff, president and CEO. ''We are making increased investments
to facilitate our continued growth in our competitive markets.''
Colorado MEDtech Inc., through its wholly owned affiliates and
operating divisions, is a leading full-service provider of advanced
medical products and comprehensive outsourcing services.
Colorado MEDtech Inc.
Earnings Recap
Three Months Ended Six Months Ended
Dec. 31, Dec. 31,
1997 1996 1997 1996
(unaudited) (unaudited)
Sales & service $ 12,182,985 $ 5,777,072 $ 19,443,215 $ 11,065,374
Net income $ 943,079 $ 491,734 $ 1,606,788 $ 945,069
Net income per
common share
Basic $ .09 $ .07 $ .16 $ .14
Diluted $ .08 $ .06 $ .13 $ .11
Wgt. avg. common
shares
outstanding
Basic 10,466,997 6,909,649 10,174,084 6,905,705
Diluted 12,156,124 8,888,584 11,987,737 8,814,422
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