MILWAUKEE--(BUSINESS WIRE)--May 12, 2005--CRITICARE SYSTEMS, INC. (AMEX:CMD). Criticare Systems Inc today released financial results for its fiscal third quarter and the first nine months of fiscal 2005, ended March 31, 2005. Net sales for the third quarter of fiscal 2005 were $6,054,370 compared to $6,571,171 for the same quarter of 2004. Gross profit was $2,429,971 (40.1% as a percentage of net sales) for the third quarter of fiscal 2005 compared to $2,809,022 (42.7% as a percentage of net sales) for the same period of fiscal 2004. Operating expenses were $2,733,421 for the third quarter of fiscal 2005 compared to $3,290,236 for the comparable quarter of 2004. This reflects the outcome of cost reduction activities launched earlier in the fiscal year. Net loss for the third quarter of fiscal 2005 was $(244, 871) compared to $(412,607) for the same quarter of fiscal 2004. The net loss for the third quarter of fiscal 2005 includes a $200,000 additional reserve for obsolete inventory.
