PETACH TIKVA, Israel, November 23 /PRNewswire-FirstCall/ -- Healthcare Technologies, Ltd. (NASDAQ: HCTL), today announced unaudited results for nine months and the third quarter ended September 30, 2007.
Revenues for the third quarter of 2007 were $4.0 million, as compared to $3.1 million for the corresponding quarter last year. The third quarter gross profit was $1.4 million, as compared to $1.0 million in the third quarter of 2006. The net profit for the quarter was $189 thousand or $0.02 per share, compared to $34 thousand, or $0 per share for the third quarter of last year.
Revenues for the first nine months of 2007 were $11.7 million, compared to $10.1 million for the first nine months of 2006. The gross profit for the first nine months was $3.8 million versus $3.6 million for the same period in 2006. The net loss for the period was $130 thousand, or $0.02 per share, versus a net profit of $557 thousand, or $0.07 per share for the same period last year.
Shareholders' equity on September 30, 2007 was $7.1 million, compared
to $7.3 million on December 31, 2006. Current assets net of current
liabilities at the end of the period were $1.2 million, compared to $2.6
million on December 31, 2006.
About Healthcare Technologies
Healthcare Technologies Ltd. through it subsidiaries and affiliate
Gamidor Diagnostics (1984) Ltd. ,Danyel Biotech Ltd. and Savyon Diagnostics
Ltd., specializes in development, manufacturing and marketing of clinical
diagnostic test kits and provides services and tools to diagnostic and
biotech research professionals in laboratory and point of care sites
Healthcare Technologies, Ltd.
Condensed Consolidated Statement of Operations
(U.S. Dollars in Thousands, Except Profit (Loss) Per Share Information)
Three Months Ended Nine Months Ended Year Ended
09/30/07 09/30/06 09/30/07 09/30/06 31/12/06
Sales $4,035 $3,066 $11,789 $10,116 $13,656
Gross profit $1,397 $1,025 $3,827 $3,591 $4,775
Net profit (Loss) $189 $34 $(130) $557 $210
Profit (Loss) per
share $0.02 $0.00 $(0.02) $0.07 $0.03
of Shares and
(in Thousands) 7,793 7,703 7,793 7,703 7,715
Consolidated Balance Sheet ,
(U.S $ in thousands)
09/30/07 09/30/06 12/31/06
Cash and cash
equivalents $238 $467 $361
assets $7,662 $7,055 $7,672
liabilities $6,442 $4,680 $5,055
equity $7,151 $7,621 $7,315
Safe Harbor: This press release contains certain forward looking
statements within the meaning of section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934. With the exception
of historical information contained herein, the matters discussed in this
press release involve risk and uncertainties. Actual results could differ
materially from those expressed in any forward looking statement made by or
on behalf of Healthcare Technologies Ltd. Readers are referred to the
documents filed by the company with the Securities Exchange Commission,
specifically the most recent report on Form 20F that identifies important
risks which could cause actual results to differ from those contained in
the forward looking statements.
FOR: Healthcare Technologies Ltd
CONTACT: Eran Rotem CFO
|SOURCE Healthcare Technologies Ltd|
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