Navigation Links
Biotel Announced Profitable First Quarter Ended September 30, 2009
Date:11/20/2009

MINNEAPOLIS, Nov. 20 /PRNewswire-FirstCall/ -- Biotel Inc. (OTC Bulletin Board: BTEL) announced results for its first quarter ended September 30, 2009 with net earnings of $128,000, or $0.04 per diluted share, on revenues of $3,263,000. This compares to net earnings of $328,000, or $0.11 per diluted share, on revenues of $3,168,000 for the first quarter of last year.

Commenting on the first quarter results, Biotel President and CEO Steve Springrose said: "Biotel enjoyed strong sales and earnings through the first quarter and believes its upcoming new wireless event and MCT products have favorable attributes for the arrhythmia service market. Nevertheless, sales of Braemar wireless arrhythmia monitors are expected to diminish versus fiscal year 2009. Following the announcement of Biotel's planned merger with CardioNet, Inc, many of our customers made other plans for the purchase of wireless products they had intended to purchase from us. We expect that many of these customers will not purchase their future requirements for wireless products from us notwithstanding the termination of the merger agreement by CardioNet. On July 16, 2009, Biotel commenced a lawsuit claiming CardioNet breached and improperly terminated the merger agreement. Biotel is seeking specific performance and damages.

"We are not forecasting major national customers for our Fusion MCT products and will market Fusion and ER920W devices to regional scanning services. Additionally, two major customers issued purchase orders for wireless and event recorder products in the period following announcement of the merger agreement. These orders appear to have been last time buy opportunities for such customers, and the purchases propelled sales revenues through the first quarter just ended. These orders have been substantially filled, revenues are expected to diminish, and Biotel does not project profitability through the remainder of the fiscal year.

"Furthermore, Medicare has recently announced that event recorder reimbursement will diminish 7% and Holter reimbursement will diminish 16% in 2010. This may place downward pressure on pricing and sales of our traditional non-wireless product lines. Agility's business has diminished due to fewer contracted atrial fibrillation clinical trials, the principal source of Agility's revenues. Agility is incurring operating losses but has won new arrhythmia clinical research business projected to begin in June, 2010."


                  3 months ended       3 months ended           %
                September 30, 2009   September 30, 2008       Change
                ------------------   ------------------       ------
Revenue            $3,263,000           $3,168,000             3.0%
Net Income           $128,000             $328,000           (60.9%)
Earnings Per
 Share, Basic           $0.05                $0.12
Earnings Per
 Share, Diluted         $0.04                $0.11

SOURCE Biotel Inc.


'/>"/>
SOURCE Biotel Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. Awardees for the 2009 Young Investigator Grant for Probiotics Research Announced
2. Results From Drug Trials and New Risk Factors Announced at International Alzheimers Conference
3. 2008 Human Research Protection Award Recipients Announced
4. Calabar AB Today Announced New Financing for Continuation of the Phase II Program in Patients With Dry Mouth
5. Wyeth Applauds Six Countries Across Europe, and the Middle East, That Recently Announced the Inclusion of the 7-Valent Pneumococcal Conjugate Vaccine (PCV7) in Their Immunization Schedules
6. PRoFESS(R) Results Announced at XVII European Stroke Conference
7. Study Results of GAMMAGARD S/D and GAMMAGARD LIQUID in Patients with Mild-to-Moderate Alzheimers Disease Announced
8. Senesco Expands on Recently Announced Preclinical Pancreatic Islet Data
9. Results of TRIUMPH-1 Trial of Viveta in Pulmonary Arterial Hypertension to Be Announced Before Market Open on Thursday, November 1, 2007
10. NeoStem Acquires China Biopharmaceuticals Holdings, Inc.; Obtains Controlling Interest in Profitable Leading Chinese Pharmaceutical Company
11. instaCare Corp. Continues Turnaround, Reports 58% Revenues Increase for First Three Quarters
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/25/2017)... 25, 2017  EpiVax, Inc., a leader in ... immune-engineering today announced the launch of EpiVax Oncology ... personalized therapeutic cancer vaccines. EpiVax has provided $500,000 ... to enabling technologies to the new precision immunotherapy ... EpiVax Oncology as Chief Executive Officer. Gad brings ...
(Date:9/19/2017)... Sept. 19, 2017 HistoSonics, Inc., a venture-backed medical device company developing a non-invasive, ... tissues, announced three leadership team developments today:   ... ... ... Veteran medical device executive Josh Stopek , PhD, ...
(Date:9/13/2017)... 13, 2017   OrthoAtlanta has been named the ... Host Committee (AFHC) for the 2018 College Football Playoff (CFP) ... at Mercedes-Benz Stadium in Atlanta, Georgia . ... "I,m In" campaign, participating in many activities leading up to, ... ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... ... “The Journey: From the Mountains to the Mission Field”: the story of ... Philippines. “The Journey: From the Mountains to the Mission Field” is the creation of ... taught all ages and currently teaches a class of ladies at her church, which ...
(Date:10/12/2017)... ... October 12, 2017 , ... CitiDent and San Francisco dentists, ... cutting-edge Oventus O2Vent technology. As many as 18 million Americans are estimated to ... breathing. Oral appliances can offer significant relief to about 75 percent of people ...
(Date:10/12/2017)... ... October 12, 2017 , ... IsoComforter, Inc. ( ... today the introduction of an innovative new design of the shoulder pad. The ... get maximum comfort while controlling your pain while using cold therapy. By utilizing ice ...
(Date:10/12/2017)... Maryland (PRWEB) , ... October 12, 2017 , ... ... magnetic drug delivery system that we intend to develop to enable prevention of ... can lead to severe hearing loss, especially in pediatric patients. For cisplatin, hearing ...
(Date:10/12/2017)... ... ... Leading pediatric oncology experts at Children’s National Health System will join ... International Society of Paediatric Oncology (SIOP) Oct. 12-15. Chaired by Jeffrey Dome, ... at Children’s National, and Stephen P. Hunger, M.D., Chief of the Division of ...
Breaking Medicine News(10 mins):