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Microcap & Penny Stocks : Tokyo Joe's Cafe / Anything goes -- Ignore unavailable to you. Want to Upgrade?

To: Due Diligence who wrote (3216)	3/30/1998 10:00:00 AM
From: TokyoMex	Read Replies (2) \| Respond to of 34592

I am buying this stock ,, I see no bottom side risk and its revenue growth is awsome. (HCTLF)Nasdaq ÿÿÿÿBusiness Editors ÿÿÿÿASHDOD, Israel--(BUSINESS WIRE)--March 30, 1998-- --Fourth Quarter Revenues Rise 97%, Gross Profit Increases 93%-- ÿÿÿÿHealthcare Technologies Ltd. (NASDAQ: HCTLF), today reported that revenues for the fourth quarter and the year ended Dec. 31, 1997, rose 97 percent and 78 percent, respectively. ÿÿÿÿRevenues for the fourth quarter increased 97 percent to US$5.0 million from US$2.5 million for the corresponding quarter last year. Gross profit for the fourth quarter increased 93 percent to $1.8 million from $0.9 million in the fourth quarter of 1996. The increase in revenues and gross profit for the fourth quarter was due primarily to the consolidation of the financial results of the company's subsidiary, Gamidor Israel Ltd., which it acquired in April 1997. The net loss for the quarter was ($422,000), compared with a net loss of ($557,000) for the fourth quarter of the prior year. ÿÿÿÿRevenues for the year ended Dec. 31, 1997 increased 78 percent to $16.3 million, from $9.2 million in the year prior. Gross profit for the twelve-month period increased 81 percent to $6.4 million from $3.6 million for the corresponding 1996 period. The net loss for 1997 was $1.1 million compared with a net loss of $2.6 million for 1996. ÿÿÿÿShareholder's equity on Dec. 31, 1997 was $9.7 million compared to $13 million on Dec. 31, 1996. Working capital at year-end was $3.2 million compared to $6 million on Dec. 31, 1996. The reduction in working capital and shareholder's equity was primarily due to the acquisition of Gamidor Israel Ltd. in April 1997. ÿÿÿÿYacob Ofer, president and CEO of Healthcare commented, "We are pleased with Healthcare's improved operating results for the year. We have realized increased efficiencies as a result of our Gamidor acquisitions and our company reorganization. ÿÿÿÿ"We have emerged as a company with particular strengths in the areas of product development and product distribution. In this capacity we conduct research and development for our own products, as well as for other companies. Similarly, we manufacture our own products, and as one of the only ISO 9002 certified diagnostic manufacturing facilities in Israel, have the ability to produce for third parties. Additionally, we are leading distributors of In Vitro Diagnostic (IVD) and medical products, through our Gamidor subsidiaries in Israel and the United Kingdom. These distribution channels help advance the sale of our own products while facilitating a direct link to our customers for future products and market needs. We feel well positioned as we enter 1998. " ÿÿÿÿHealthcare Technologies through its subsidiaries, Savyon Diagnostics, Diatech Diagnostics Inc., Gamidor Israel Ltd. and Gamidor UK, Ltd. specializes in the development, manufacture and marketing of medical diagnostic testing kits and systems for certain infectious diseases, sexually transmitted diseases, urinary tract infections, respiratory illnesses and a range of tests for thyroid, steroids and drugs of abuse, as well as products used in clinical chemistry and pathology laboratories