Health & Fitness
Health and Fitness
Health and Fitness
Tue, February 17, 2009
Mon, February 16, 2009
Fri, February 13, 2009 Hypertension Diagnostics: Hypertension Diagnostics Announces FY 2009 Second Quarter Results
ST. PAUL, MN--(Marketwire - February 13, 2009) - Hypertension Diagnostics, Inc. (
Revenue for Q2 2009 totaled $137,207 compared to $145,662 for Q2 2008 ending December 31, 2007, which represents a 5.8% decrease. The Company's net loss was $191,165 for Q2 2009 or $.00 per share, compared with a net income of $165,448 for Q2 2008, or $.00 per share. Included in the net loss for Q2 2009 are total non-cash charges (mainly deferred compensation, depreciation, stock options) of $92,178. In Q2 2008, total non-cash benefits were $252,870. The decline in the Company's stock price during Q2 2008 resulted in a negative expense for the Q2 2008 deferred compensation expense of $283,500. This caused the company to report net income, which would not have occurred without the negative deferred compensation expense in Q2 2008. The Company reported a cash balance on December 31, 2008 of $914,741.
For the six month period ended December 31, 2008, total revenue was $273,719, compared to $292,014 for the six month period ended December 31, 2007, a 6.3% decrease. For the six month period ended December 31, 2008, the Company incurred a net loss of $69,560, including a non-cash benefit of $111,854, or $.00 per share, compared with a net loss of $290,760, including a non-cash charge of $64,106, or $(.01) per share, for the six month period ended December 31, 2007.
"While the current quarter shows a decline in revenues from the comparable quarter in the last fiscal year, we are excited by the opportunity in the international markets, where prevention of cardiovascular disease is becoming standard of care," said Mark Schwartz, Chairman and CEO. "The Company has been working with new international distributors in the European and Asian markets to compete in the emerging vascular screening market where we believe our products have a compelling clinical advantage over our competitors."
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 2008 Annual Report on Form 10-KSB, and subsequent Quarterly Reports on Form 10-Q, all of which were filed with the U.S. Securities and Exchange Commission, as well as others not now anticipated.
CVProfilor is a registered trademark of Hypertension Diagnostics, Inc.
Hypertension Diagnostics, HDI/PulseWave, PulseWave and CVProfile are trademarks of Hypertension Diagnostics, Inc. All rights reserved.
Website: [ www.hdii.com ]
Hypertension Diagnostics, Inc. Summary Financial Data Statements of Operations Three Months Ended Six Months Ended December 31 December 31 ----------- ----------- ----------- ------------ 2008 2007 2008 2007 ----------- ----------- ----------- ------------ Revenue: Equipment sales $ 96,837 $ 91,705 $ 178,837 $ 183,635 Equipment rental 24,119 35,558 49,816 81,785 Service/contract income 16,251 18,399 45,066 26,594 ----------- ----------- ----------- ------------ 137,207 145,662 273,719 292,014 Cost of Sales 2,976 12,113 7,507 14,441 ----------- ----------- ----------- ------------ Gross Profit 134,231 133,549 266,212 277,573 Selling, general & administrative expenses 328,759 (17,963) 345,619 597,022 ----------- ----------- ----------- ------------ Total Expense 328,759 (17,963) 345,619 597,022 ----------- ----------- ----------- ------------ Operating Income (Loss) (194,528) 151,512 (79,407) (319,449) Interest income 3,363 13,936 9,847 28,689 ----------- ----------- ----------- ------------ Net Income (Loss) $ (191,165) $ 165,448 $ (69,560) $ (290,760) =========== =========== =========== ============ Basic and Diluted Net Loss per Share $ .00 $ .00 $ .00 $ (.01) Basic and Diluted Weighted Average Shares Outstanding 40,795,820 39,666,835 40,579,411 39,658,077 Balance Sheet Data December 31, 2008 June 30, 2008 ----------------- ------------- Cash and cash equivalents $ 914,741 $ 1,081,868 Total current assets 1,201,440 1,408,379 Total assets 1,215,702 1,427,786 Total current liabilities 394,157 585,280 Accumulated deficit (27,255,727) (27,186,167) Total shareholders' equity 793,171 816,981
