ST. PAUL, Minn., Sept. 27 /PRNewswire-FirstCall/ -- Hypertension Diagnostics, Inc. (OTC Bulletin Board: HDII), today announced audited financial results for the fiscal year ended June 30, 2007.
Revenue for fiscal year 2007 totaled $1,878,840 compared to $1,789,546 in the prior year ended June 30, 2006, which represents a 5% increase. The Company incurred a net loss of $504,011 for fiscal year 2007, or $(.01) per share, compared with a net loss of $1,272,742 for fiscal year 2006, or $(.04) per share. Included in the net loss for fiscal year 2007 are total non-cash charges (expenses associated mainly with stock compensation, depreciation, stock options) of $290,989. The Company reported a cash balance on June 30, 2007 of $1,376,632.
Fourth quarter revenue of $438,481, for fiscal year 2007 compared to $295,536 for fiscal year 2006, represented a 48% increase. Revenue for the fourth quarter of fiscal year 2007 decreased by 6.5% compared with $469,151 for the third quarter of fiscal year 2007.
Forward-looking statements in this press release are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company wishes to caution readers not to place undue reliance on any forward-looking statements and to recognize that the statements are not a prediction of actual future results. Actual results could differ materially from those presented and anticipated in the forward-looking statements due to the risks and uncertainties set forth in the Company's 2006 Annual Report on Form 10-KSB, and subsequent Quarterly Reports on Form 10-QSB, all of which were filed with the U.S. Securities and Exchange Commission, as well as others not now anticipated.
Hypertension Diagnostics, Inc.
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|SOURCE Hypertension Diagnostics, Inc.|
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