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$20 million public offering of units
9. Protein Sciences Corporation Announces Profitable and Cash Flow Positive Results for 2009 and Management Realignment
10. Enovate Announces New Lightweight Medication Cart Series
11. Abatement Technologies Announces High-Velocity RAPTOR™ Air Movers for Water Damage Restoration Contractors
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/21/2017)... ... 2017 , ... Chicago plastic surgeon, Dr. Anil R. Shah, MD , ... benign bony lump located on the forehead usually attributed to a facial fracture. Their ... pain. Dr. Shah has discovered an approach that is minimally invasive. He is an ...
(Date:4/21/2017)... ... 2017 , ... Young Asset Protection, an insurance provider and ... greater Pittsburgh metropolitan region, is joining forces with the local chapter of the ... , Variety the Children’s Charity is a national organization dedicated to empowering, enabling, ...
(Date:4/21/2017)... ... April 21, 2017 , ... The Patient Advocacy Community of The Beryl Institute ... 2017 Ruth Ravich Patient Advocacy Award in recognition of her extraordinary contributions to ... the award at The Beryl Institute’s annual Patient Experience Conference on March ...
(Date:4/21/2017)... ... April 21, 2017 , ... Crossover Symmetry ... O2X , an active lifestyle company that provides Human Performance Training and education ... police offers, first responders, military officers and others in service through the development ...
(Date:4/21/2017)... ... April 21, 2017 , ... Airway ... new partnership with the highly regarded and well renowned Asian distributor, Discovery Sleep. ... & myTAP PAP Nasal Pillow Mask, and will stabilize and strengthen Airway’s presence ...
Breaking Medicine News(10 mins):
(Date:4/19/2017)... 2017 The Mobile X-Ray product segment is the ... during the forecast period Mobile X-Ray segment is ... mobile X-Ray devices market, which is estimated to be valued ... a CAGR of 7% over the forecast period. Mobile X-Ray ... than US$ 100 Mn in 2017 over 2016. The segment,s ...
(Date:4/19/2017)... NEW YORK , April 19, 2017 /PRNewswire/ ... This report on the prostate cancer ... of the global market. Increasing prevalence of prostate ... as innovation in the development of new drugs ... hormone-refractory prostate cancer drug due to lesser side ...
(Date:4/19/2017)... , April 19, 2017  Sorrento Therapeutics, ... antibody-centric, clinical-stage biopharmaceutical company developing new treatments for ... the closing of its previously announced underwritten public ... at a public offering price of $2.00 per ... estimated offering expenses payable by Sorrento.  The net ...
Breaking Medicine Technology: