Navigation Links
Biotel Announces Results for Second Quarter ended December 31, 2009
Date:2/18/2010

MINNEAPOLIS, Feb. 18 /PRNewswire-FirstCall/ -- Biotel Inc. (OTC Bulletin Board: BTEL) announced results for its second quarter ended December 31, 2009, with a net loss of ($47,000), or (0.02) per diluted share, on revenues of $2,452,000.  This compares to net earnings of $289,000, or $0.10 per diluted share, on revenues of $3,186,000 for the second quarter of last year.  For the six months ended December 31, 2009, Biotel had net earnings of $81,000, or $0.03 per diluted share, on revenues of $5,175,000.  This compares to net earnings of $617,000, or $0.22 per diluted share, on revenues of $6,354,000 for the first six months of last year.

Highlights for the second quarter are as follows:

  • Reduced revenues arising from reduced wireless product sales activity
  • First quarterly loss after twelve successive profitable quarters
  • Quarterly legal expenses related to:
    • a complaint filed by Biotel versus CardioNet related to merger consummation, and
    • a patent complaint filed by LifeWatch versus Braemar
  • Cash position remains strong, at $1.7 million, with no bank debt

"A 23% decrease in second quarter revenues was primarily the result of significantly diminished sales of Braemar's ER920W wireless event recorder following announcement of Biotel's planned merger with CardioNet, Inc. and the subsequent termination of that agreement by CardioNet,"  Biotel President and CEO Steve Springrose said. "Biotel incurred additional legal expenses in the second quarter of fiscal 2010 related to the two matters as identified above.  We expect to continue to incur a significant level of legal expenses during the next twelve months and have elected to expense those fees as incurred.  Looking ahead, Braemar expects that wireless product revenues will remain diminished in the second half of the fiscal year."

Biotel serves as a development partner to medical corporations seeking new devices and clinical research services.

    
    
                                3 months ended      3 months ended           %
                             December 31, 2009   December 31, 2008      Change
                             -----------------   -----------------      ------
    
    Revenue                        $2,452,000           $3,186,000     (23.0%)
    Net Income (Loss)                 (47,000)            $289,000    (116.3%)
    Earnings Per Share, Basic          ($0.02)               $0.10
    Earnings Per Share, Diluted        ($0.02)               $0.10
    
                                6 months ended      6 months ended           %
                             December 31, 2009   December 31, 2008      Change
                             -----------------   -----------------      ------
    
    Revenue                        $5,715,000           $6,354,000     (10.1%)
    Net Income                        $81,000             $617,000     (86.9%)
    Earnings Per Share, Basic           $0.03                $0.22
    Earnings Per Share, Diluted         $0.03                $0.22

SOURCE Biotel Inc.

Back to top

RELATED LINKS
http://www.biotelinc.com

'/>"/>

SOURCE Biotel Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine news :

1. CardioNet Terminates Merger With Biotel
2. Biotel Announces Profitable Second Quarter Ended December 31, 2008
3. Biotel Announces Profitable Third Quarter Ended March 31, 2008
4. Biotel Announces Strong Results for the Second Quarter Ended December 31, 2007
5. Biotel Announces Strong Results for the First Quarter Ended September 30, 2007, FDA 510(k) Clearance for the Braemar ER900 Wireless Event Recorder
6. Biotel Announces Record Revenues and Strong Earnings for the Fourth Quarter and Year Ended June 30, 2007
7. WebMD Announces Fourth Quarter Financial Results
8. Labopharm announces closing of US$20 million public offering of units
9. Protein Sciences Corporation Announces Profitable and Cash Flow Positive Results for 2009 and Management Realignment
10. Enovate Announces New Lightweight Medication Cart Series
11. Abatement Technologies Announces High-Velocity RAPTOR™ Air Movers for Water Damage Restoration Contractors
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/16/2017)... Linda, Ca (PRWEB) , ... August 16, 2017 , ... ... innovators, engineers, and scientists from around the world, is excited to announce Andrew Ly ... him in his academic pursuits, covering textbook costs. , Ly, who is in ...
(Date:8/16/2017)... ... 16, 2017 , ... With a new PD diagnosis every nine minutes, research ... The grants are awarded through a competitive application process and reviewed by APDA’s Scientific ... and expertise in all areas relevant to PD research. The SAB meets annually ...
(Date:8/16/2017)... ... August 16, 2017 , ... Melbourne’s reign as the world’s most liveable city ... (EIU) annual Liveability Index. , The Index surveys 140 of the world’s cities and ... Melbourne has consistently come in the top three of the index. So what is ...
(Date:8/16/2017)... Fla. (PRWEB) , ... August 16, 2017 , ... ... and management company based in Vero Beach, announced today that two of their ... an organization that represents professionally managed senior living communities in Florida. The awards ...
(Date:8/16/2017)... City, Utah (PRWEB) , ... August 16, 2017 , ... ... on the Inc 5000 list for the fourth consecutive year. With 197% ... 5000 2017 list of the nation’s fastest growing companies. , Previous honors ...
Breaking Medicine News(10 mins):
(Date:8/15/2017)... Diplomat Pharmacy, Inc. (NYSE: DPLO), is now ... residents. Naloxone is available without a ... pharmacy, G-3320 Beecher Road. ... Administration, is intended to block or reverse the effects ... of consciousness. The medication is often carried by first ...
(Date:8/14/2017)... HACKENSACK, N.J. and PETACH TIKVAH, ... Therapeutics Inc. (NASDAQ: BCLI), a leading developer of adult ... for the second quarter ending June 30, 2017. ... advanced stages of preparing for our pivotal Phase 3 ... Chaim Lebovits , President and Chief Executive Officer ...
(Date:8/8/2017)... Second-quarter 2017 revenues of $876 ... from continuing operations Second-quarter ... $110 million Second-quarter 2017 ... Second-quarter 2017 adjusted diluted ... percent to $0.93 Second-quarter ...
Breaking Medicine Technology: