Hypertension Diagnostics Announces First Quarter Fiscal Year 2010 Results
06 Novembre 2009 - 8:51PM
Marketwired
Hypertension Diagnostics, Inc. (OTCBB: HDII), today announced
financial results for the first quarter (Q1) of fiscal year 2010
ended September 30, 2009.
Revenue for Q1 2010 totaled $302,075 compared to $136,512 for Q1
2009 ending September 30, 2008, which represents a 121% increase.
While the Company incurred a net loss of $780,067 for Q1 2010 or
$(.02) per share, compared with net income of $121,605 for Q1 2008,
or $.00 per share, included in the net loss for Q1 2010 are total
non-cash charges (deferred stock compensation, depreciation, stock
options) of $788,190. Therefore, the Company was profitable in the
quarter before non-cash charges. The large increase in non-cash
charges was a direct result of the rise in Company's stock price
which increased from $0.03 at the beginning of the quarter to $0.14
as the end of the quarter. This increase in stock price impacts the
amount of the non-cash deferred stock compensation charge. Included
in the net income for Q1 2009 are total non-cash benefits of
$204,032, the result of a decline in the Company's stock price
during last year's first quarter which created a non-cash benefit
for the non-cash charge of deferred stock compensation. The Company
reported a cash balance on September 30, 2009 of $963,948, a 38%
increase compared with a cash balance of $697,918 on June 30,
2009.
"Our first quarter sales continued to rebound and we are pleased
by the revenue growth," said Mark Schwartz, Chairman and CEO. Q1
revenue from the sale of the Company's research product used in the
START substudy funded by the National Institutes of Health (NIH)
was $98,745. Revenue for the first quarter from non-START sources
was $203,330, a 49% increase from the prior year's first quarter
total revenue and a 23% increase from the fourth quarter's total
revenue of $164,691. The Company expects to complete shipment of
the remaining START units by the end of the second quarter.
"The outlook for the second quarter is encouraging, based on
preliminary results of the number of non-START units sold. In
October, it would appear that for the calendar year so far, we have
set a record," concluded Mr. Schwartz.
Forward-looking statements in this press release are made under
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. The Company wishes to caution readers not to
place undue reliance on any forward-looking statements and to
recognize that the statements are not a prediction of actual future
results. Actual results could differ materially from those
presented and anticipated in the forward-looking statements due to
the risks and uncertainties set forth in the Company's 2009 Annual
Report on Form 10-K, and subsequent Quarterly Reports on Form 10-Q,
all of which were filed with the U.S. Securities and Exchange
Commission, as well as others not now anticipated.
Hypertension Diagnostics, Inc.
Summary Financial Data
(Unaudited)
Statements of Operations
September 30
----------------------
2009 2008
---------- ----------
Revenue:
Equipment sales $ 254,235 $ 82,000
Equipment rental 25,161 25,697
Service/contract income 22,679 28,815
---------- ----------
302,075 136,512
Cost of Sales:
Cost of Sales 50,622 45,508
Inventory Reserve Allowance (17,838) (9,361)
---------- ----------
Net Cost of Sales 32,784 36,147
---------- ----------
Gross Profit 269,291 100,365
Expenses:
Selling, general and administrative 1,050,841 (14,756)
---------- ----------
Total Expenses 1,050,841 (14,756)
---------- ----------
Operating Income or (Loss) (781,550) 115,121
Other Income:
Interest income 1,483 6,484
---------- ----------
Total Other Income 1,483 6,484
---------- ----------
Net Income (Loss) before taxes (780,067) 121,605
---------- ----------
Income taxes - -
---------- ----------
Net Income (Loss) (780,067) 121,605
========== ==========
Basic and Diluted Net Loss per Share $ (0.02) $ .00
Basic and Diluted Weighted Average Shares
Outstanding 40,973,711 40,363,001
Balance Sheet Data
September 30, June 30,
2009 2009
------------ ------------
Cash and cash equivalents $ 963,948 $ 697,918
Total current assets 1,268,769 1,022,528
Total assets 1,277,588 1,032,787
Total current liabilities 328,327 119,884
Accumulated deficit (28,214,674) (27,434,607)
Total shareholders' equity (97,151) 660,041
CVProfilor is a registered trademark of Hypertension
Diagnostics, Inc.
Hypertension Diagnostics, HDI/PulseWave, PulseWave and CVProfile
are trademarks of Hypertension Diagnostics, Inc. All rights
reserved.
Website: www.hdii.com
Contact: Mark N. Schwartz CEO (651) 687-9999
Hypertension Diagnositc (CE) (USOTC:HDII)
Graphique Historique de l'Action
De Déc 2024 à Jan 2025
Hypertension Diagnositc (CE) (USOTC:HDII)
Graphique Historique de l'Action
De Jan 2024 à Jan 2025