Biotel revenues up 25%
16 February 2005
Minneapolis, USA. Biotel Inc. has announced revenues for the second
quarter ended December 31, 2004 were up 24.8% to $2,596,000 versus revenues
of $2,080,000 for the quarter ended December 31, 2003. Net earnings for the
quarter ended December 31, 2004 were $93,000 compared to $110,000 for the
quarter ended December 31, 2003. Revenues and net income for the six months
ended December 31, 2004 were $5,087,000 and $226,000, respectively, versus
revenues and net income of $4,426,000 and $457,000, respectively, for the
six months ended December 31, 2003.
Sales to medical corporations increased 22.5% to $4,336,000 for the six
months at December 31, 2004 compared to $3,539,000 for the corresponding
period in 2003. Biotel provides medical devices and services meeting needs
of medical corporations seeking to outsource research, development and
manufacturing capabilities. Biotel President and CEO Steve Springrose said
"Biotel's traditional OEM equipment revenues grew briskly in the second
quarter just ended, particularly in our cardiology product lines as
customers seek cost effective alternatives to internal development. The
success of Biotel has resulted in the payment of income taxes beginning in
the current fiscal year, and the second quarter pre-tax income was up 31% to
$147,000 compared to $112,000. Biotel is pleased it could improve pre-tax
income while concurrently investing significantly in its new Agility
Centralized Research Services. The Agility enterprise, which initiated sales
activity in the summer, has been contracting with significant corporate
partners to supply round the clock ECG services."
Braemar and Carolina Medical design, develop, and manufacture completed,
tested medical devices to customers' OEM specifications. Braemar President
Harry Strandquist said, "First half results have been very strong for
Braemar, Inc. across all product lines. Recent development programs,
organizational enhancements, and enhanced OEM partnerships are driving
revenue and earnings growth at Braemar."
Agility President Dan Pawlik said, "In January, 2005, Agility was
certified as 21 CFR 11 compliant by Regulatory/Clinical Consultants, Inc.
("RxCCI"), a leading contract research organization ("CRO"). This
certification provides independent validation of Agility as a capable and
competent provider in the ECG research marketplace."
Biotel Inc. is comprised of four business units, all of which are wholly-
owned subsidiaries. Three of the business units, Braemar, Inc., Carolina
Medical, Inc. and Agility Centralized Research Services, Inc. sell medical
devices, technology and research services to medical companies. They design,
manufacture, and test 24- and 48-hour Holter recorders, 30-day ECG event
recorders, tissue extraction components, and flow control devices; provide
24/7 clinical ECG research services and internet technologies; and develop
and test other custom medical devices. These subsidiaries form a base of
products and services which Biotel believes are attractive to medical device
and pharmaceutical companies, allowing accelerated and improved research,
development, testing, and manufacturing operations. Advanced Biosensor Inc.,
the fourth business unit, sells Holter diagnostic cardiology software and
systems to end users in hospitals and clinics.
3 months ended 3 months ended %
December 31, 2004 December 31, 2003 Change
Revenues $2,596,000 $2,080,000 +24.8%
Net Income $93,000 $110,000 (15.4%)
Earnings Per Share
Basic $0.04 $0.04
Diluted $0.03 $0.04
6 months ended 6 months ended %
December 31, 2004 December 31, 2003 Change
Revenues $5,087,000 $4,426,000 +14.9%
Net Income $226,000 $457,000 (50.5%)
Earnings Per Share
Basic $0.09 $0.18
Diluted $0.08 $0.18
For further information, contact:
Judy Naus, +1 952-890-5135 info@biotelinc.com
This release was issued through eReleases(TM). For more information,
visit
http://www.ereleases.com/ .
Source: Biotel Inc.
CONTACT: Judy Naus of Biotel Inc., +1-952-890-5135,
info@biotelinc.com
Website:
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