Earnings out on MSYS late today(1.6million float)Here is the release:
BW1296 NOV 13,1998 12:12 PACIFIC 15:12 EASTERN
( BW)(MEDICAL-TECHNOLOGY-SYS)(MSYS) Medical Technology Systems, Inc.
Announces Second Quarter Results
Business Editors
CLEARWATER, Fla.--(BUSINESS WIRE)--Nov. 13, 1998--Medical Technology
Systems, Inc. (MSYS) today announced results for the second quarter
ended September 30, 1998.
Revenue for the second quarter increased 50% to $8.4 million from
$5.6 million the prior year. Net loss was $701,000 or $.11 per diluted
common share compared to a loss of $392,000 or $.07 per diluted common
share the prior year.
Revenue for the six months ended September 30, 1998 increased 43% to
$15.4 million from $10.8 million the prior year. Net loss before
extraordinary gain was $1,137,000 or $.18 per diluted common share
compared to a loss of $761,000 or $.13 per diluted common share the
prior year. Net loss for the six months ended September 3, 1998 was
$475,000 or $.08 per common share compared to $761,000 or $.13 per
diluted common share the prior year.
Todd Siegel, President and C.E.O., commented, "Revenue is growing at
a record pace in all our businesses, and MTS Packaging Systems, Inc.
continues to provide strong profits. Our second quarter results were
effected by costs and expenses associated with the acquisition and
consolidation of a competitive clinical laboratory and the results of
our LifeServ Technologies, Inc. business. Although, we remain optimistic
that LifeServ will soon achieve profitability, its result for the first
half of the year adversely impacted the Company's overall performance."
Medical Technology Systems, Inc. is a holding company for several
operating subsidiaries that provide health care solutions for nursing
homes, hospitals and other health care providers. MTS Packaging Systems,
Inc.(tm) manufactures and sells proprietary packaging systems for use by
pharmacies in dispensing prescription medications to assisted living and
nursing home patients. Medical Technology Laboratories, Inc. provides
analytical testing of blood, tissue and other bodily fluids to the
medical profession. LifeServ Technologies, Inc.(tm) is a health care
information technology company that provides advanced solutions for
medication management and point-of-care electronic documentation for
hospitals and other health care facilities.
MEDICAL TECHNOLOGY SYSTEMS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
Three Month Ended Six Months Ended
September 30, September 30,
1998 1997 1998 1997
Revenue:
Net Sales and Services $ 8,381 $ 5,611 $ 15,426 $ 10,758
Costs and Expenses:
Cost of Sales and Services 4,615 2,917 8,710 5,802
Selling, General and
Administrative 3,798 2,414 6,512 4,414
Depreciation and
Amortization 363 389 725 747
Interest, Net 306 283 616 556
Total Costs and Expenses 9,082 6,003 16,563 11,519
Loss Before Extraordinary
Gain (701) (392) (1,137) (761)
Extraordinary Gain on
Forgiveness of Debt 0 0 662 0
Net Loss $ (701) $ (392) $ (475) $ (761)
Earnings (Loss) Per Basic
and Diluted Common Share:
Loss Before Extraordinary
Gain $ (0.11) $ (0.07) $ (0.18) $ (0.13)
Extraordinary Gain On
Debt Forgiveness 0.00 0.00 0.10 0.00
Net Loss Per Basic and
Diluted Common Share $ (0.11) $ (0.07) $ (0.08) $ (0.13)
--30--cp/mi*
CONTACT: Medical Technology Systems, Inc., Clearwater
Della L. Divine
727-576-6311
KEYWORD: FLORIDA
INDUSTRY KEYWORD: MEDICINE EARNINGS |
