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Biotel Announces Fourth Quarter and Year End Results

MINNEAPOLIS, Sept. 30 /PRNewswire-FirstCall/ -- Biotel Inc. (OTC Bulletin Board: BTEL) announced results for the fiscal year ended June 30, 2009, with net earnings of $944,000, or $0.33 per diluted share, on revenues of $12,640,000. This compares to net earnings of $666,000, or $0.23 per diluted share on revenues of $11,495,000 in fiscal year 2008. For its fourth quarter, the Company reported net earnings of $174,000 or $0.06 per diluted share, on revenues of $3,165,000. This compares to net earnings of $191,000, or $0.07 per diluted share, on revenues of $3,187,000 in the fourth quarter of fiscal 2008.

Steve Springrose, Biotel President and CEO said, "While we are pleased with the results of operations for our fiscal year, CardioNet terminated its planned merger with Biotel in a subsequent event. Biotel has filed a complaint demanding that CardioNet complete the merger, and has asked for expedited treatment by the court. As a result of the terminated Merger Agreement, we expect revenues from a number of significant customers could be less in 2010 than in 2009."

                           3 months ended    3 months ended        %
                            June 30, 2009     June 30, 2008      Change
    Revenue                    $3,165,000        $3,187,000       -0.7%
    Net Income                   $174,000          $191,000       -8.9%
    Earnings Per Share,
     Basic                          $0.06             $0.07
    Earnings Per Share,
     Diluted                        $0.06             $0.07

                          12 months ended   12 months ended        %
                            June 30, 2009     June 30, 2008      Change
    Revenue                   $12,640,000       $11,495,000       10.0%
    Net Income                   $944,000          $666,000       41.7%
    Earnings Per Share,
     Basic                          $0.34             $0.25
    Earnings Per Share,
     Diluted                        $0.33             $0.23

SOURCE Biotel Inc.

SOURCE Biotel Inc.
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