Navigation Links
Biotel Announces Results for Second Quarter ended December 31, 2009

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



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:
(Date:11/26/2015)... ... November 26, 2015 , ... ... eReferral system for diagnostic imaging in the Waterloo region. Using the Ocean Platform, ... Medicine tests directly from their electronic medical record (EMR) without the need for ...
(Date:11/26/2015)... (PRWEB) , ... November 26, 2015 , ... ... of workshops to discuss bioavailability and the need to integrate dose form selection ... in collaboration with OBN, the membership organization supporting and bringing together the UK’s ...
(Date:11/26/2015)... (PRWEB) , ... November 26, 2015 , ... PRMA Plastic ... November 19, 2015, our surgeons performed their 6,000th free flap breast reconstruction surgery! , ... wake up every day excited to rebuild lives and it’s an honor to have ...
(Date:11/26/2015)... ... November 26, 2015 , ... Pixel Film Studios brings Final ... ProTrailer: Vintage. This newly styled ProTrailer pack comes with 30 all-new vintage-inspired designs, ... giving users limitless opportunities to stylize and create designs quickly and easily, all ...
(Date:11/26/2015)... ... November 26, 2015 , ... Indosoft Inc., developer and distributor of the ... to improve system efficiency and reliability. , The new Q-Suite 6 platform is based ... system avoids locking itself into a specific piece of software for many key components ...
Breaking Medicine News(10 mins):
(Date:11/26/2015)... , November 26, 2015 ... the addition of the  "2016 Future ... European Therapeutic Drug Monitoring (TDM) Market: ... Intelligence, Emerging Opportunities"  report to their ... has announced the addition of the  ...
(Date:11/26/2015)... , November 26, 2015 ... of the "Radioimmunoassay Market by Type ... Pharmaceutical Industry, Academics, Clinical Diagnostic Labs), Application ... Forecast to 2020" report to their ... announced the addition of the "Radioimmunoassay ...
(Date:11/25/2015)...  Amgen (NASDAQ: AMGN ) today announced the ... the United States (U.S.) Food and ... to Humira ® (adalimumab). Amgen believes this submission ... FDA and represents Amgen,s first BLA submission using the ... M.D., executive vice president of Research and Development at ...
Breaking Medicine Technology: