LENEXA, Kan., Feb. 1 /PRNewswire-FirstCall/ -- Mediware Information Systems, Inc. said revenue for its second fiscal quarter ended December 31, 2004 was $9.2 million, up 1 percent from the year-ago quarter. Net income was $949,000, or 12 cents per basic and diluted share, compared to $973,000, or 13 cents per basic and 12 cents per diluted share, a year ago.
The Company reported that new product launches underway at all its divisions are experiencing increased levels of prospective customer interest.
“Order flow and installs of new blood banking systems are increasing in accordance with internal targets,” said George Barry, Mediware’s CEO, “and we expect pharmacy system roll-outs in the U.K. to increase over sequential quarters. The Company has increased its marketing focus which, in combination with the availability of referenceable Medication Management System (MediMAR(TM) and MediCOE(TM)) installs, should move the Division toward achieving forecasted levels.”
On a broader note, he added, “we were delighted to learn that the Bush administration last week renewed its pledge to accelerate broader adoption of computerized health and prescription records. The national goal is to reduce medical errors, and that bodes well for Mediware’s strategy and product lines.”
Three and six months ended December 31, 2004 and 2003 Condensed Consolidated Statement of Operations Highlights (in thousands, except net income per share) (unaudited): Three Months Ended Six Months Ended December 31 December 31 2004 2003 2004 2003 System Sales $ 2,676 $ 3,102 $ 5,217 $ 5,840 Services 6,550 6,007 12,489 12,280 Total Revenue 9,226 9,109 17,706 18,120 Operating Expenses 7,717 7,634 15,165 14,737 Operating Income 1,509 1,475 2,541 3,383 Net Income 949 973 1,592 2,171 Net Income per Common Share: Basic $ 0.12 $ 0.13 $ 0.20 $ 0.29 Diluted $ 0.12 $ 0.12 $ 0.20 $ 0.27 Condensed Consolidated Balance Sheet Highlights (in thousands) (unaudited): As of the Period Ended December 31 2004 2003 Cash and Cash Equivalents $ 10,221 $ 8,100 Working Capital 11,100 7,024 Long-term Debt 42 1,402 Stockholders’ Equity 32,730 26,808
Mediware provides clinical information systems for hospitals and integrated healthcare delivery systems. Its products include HEMOCARE LifeLine(TM), Hemocare(R), LifeLine(R) and LifeTrak(R) (blood bank), WORx(R), MediMAR(TM), and MediCOE(TM) (medication management), Surgiware(TM) and Perioperative Solutions(TM) (operating room), as well as the JAC Stock Control System (pharmacy) in the United Kingdom. Mediware has over 1,100 systems installed in the U.S., Canada, the U.K., and elsewhere.
Certain statements in this press release may constitute “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, as the same may be amended from time to time (the “Act”) and in releases made by the SEC from time to time. Such forward-looking statements are not based on historical facts and involve known and unknown risks, uncertainties and other factors disclosed in the Company’s Annual Report on Form 10-K for the year ended June 30, 2004, which may cause the actual results of the Company to be materially different from any future results expressed or implied by such forward-looking statements. The Company disclaims any obligation to update its forward-looking statements.
Contact George Barry 913/307-1000 http://www.mediware.com/ Thomas Redington 203/222-7399 212/926-1733 http://www.redingtoninc.com/
Mediware Information Systems, Inc.
CONTACT: George Barry of Mediware Information Systems, Inc.,+1-913-307-1000; Thomas Redington for Mediware Information Systems, Inc.,+1-203-222-7399, +1-212-926-1733
Web site: http://www.mediware.com/
