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:12/2/2016)... ... ... Lori G. Cohen and Sara K. Thompson , shareholders ... American Conference Institute’s 21st Drug & Medical Device Litigation Conference , taking place in ... , Cohen, who chairs the firm’s Pharmaceutical, Medical Device & Health Care Litigation Practice ...
(Date:12/2/2016)... ... ... For over twenty-four years, Doctors on Liens has published a directory of the ... medical care. When the company started in 1997, the directory was a single page ... the now ten-page directory features a vast array of medical specialists stretching from ...
(Date:12/2/2016)... ... December 02, 2016 , ... FlexiSpot, ... of its 60-day free trial program for all of the company’s desktop riser ... a truly hassle free experience. , FlexiSpot’s unique desktop risers use an advanced ...
(Date:12/2/2016)... ... December 02, 2016 , ... U.S. Surgeon General, Dr. Vivek Murthy, graces the ... how he was inspired to practice medicine at an early age by his father, ... than making diagnoses and prescribing medicine,” he states. “It is about building relationships with ...
(Date:12/2/2016)... , ... December 02, 2016 , ... ... Beverly Hills, California, will be included in the 2016 “Guide to America’s Top ... professionals based on the amalgamation of their education, experience, and professional associations. ...
Breaking Medicine News(10 mins):
(Date:12/2/2016)... GARDENS, N.Y. , Dec. 2, 2016  LifeVac, ... will be included in the Emergency Response Training and ... are very excited to have LifeVac become part of ... Lih , Founder and CEO of LifeVac. "Having an ... LifeVac safely and effectively will help leverage our efforts ...
(Date:12/2/2016)... 2, 2016 Research and Markets has announced ... Growth and Demand Forecast to 2022" report to their offering. ... , , ... in 2015, and it is expected to grow at a CAGR of ... to witness faster growth during the forecast period, a CAGR of 8.8% ...
(Date:12/2/2016)... , Dec. 2, 2016 Quantum Radiology,s Mobile ... expert radiologist interpretation directly to women at the workplace, ... corporations, such as Delta Air Lines and SunTrust Bank, ... as a component of wellness initiatives. "I ... SunTrust. It enables them to have a mammogram without ...
Breaking Medicine Technology: