Colorado MEDtech, Inc. Reports Third Quarter And Nine-Month Results
Business Wire - May 04, 1998 09:58
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BOULDER, Colo.--(HealthWire)--May 4, 1998--Colorado MEDtech, Inc.
(NASDAQ - CMED), a Boulder, Colorado-based medical products and
services company, today announced record results for its third
quarter and nine-month period ended March 31, 1998.
Net income in the third quarter increased to $1,329,444 compared to
$671,711 in the third quarter last year (an increase of 98%) and
earnings per share increased to 11 cents per share compared to 8
cents per share with a 41% increase in the number of common
equivalent shares outstanding on a diluted basis. Sales in the third
quarter increased approximately 59% over the same period in 1997
($13.4 million compared to $8.5 million).
Net income through the nine-months ended March 31, 1998 increased to
$2,936,233 compared to $1,616,779 for the same period last year (an
increase of 82%) on sales of $32.9 million compared to $19.5 million
in the same period of the prior year (an increase of 68%). Earnings
per share through the nine-months were $.24 compared to $.18 in the
prior year after a 37% increase in the number of common equivalent
shares outstanding on a diluted basis.
"We had excellent growth in revenues and profitability from both our
outsourcing services and product focused operations," said John V.
Atanasoff, President and CEO. "The continued growth of our base
business and our new acquisitions both contributed to our third
quarter performance."
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.
EARNINGS RECAP Three Months Ended Nine Months Ended
March 31, March 31,
1998 1997 1998 1997
(Unaudited) (Unaudited)
Sales & Service $ 13,449,571 $ 8,483,157 $ 32,892,786 $ 19,548,531
Net Income $ 1,329,444 $ 671,711 $ 2,936,233 $ 1,616,779
Net Income Per
Common Share
Basic $ .12 $ .10 $ .28 $ .23
Diluted $ .11 $ .08 $ .24 $ .18
Weighted Average
Common Shares
Outstanding
Basic 10,677,117 7,040,248 10,346,148 6,949,898
Diluted 12,377,906 8,764,926 12,125,453 8,824,380
CONTACT: Colorado MEDtech, Inc.
John V. Atanasoff, President and CEO
Bruce L. Arfmann, CFO
Telephone: 303.530.2660
Fax: 303.581.1010
Website: cmed.com
Email: cmedinfo@cmed.com |
