LENEXA, Kan., Jan. 23 /PRNewswire-FirstCall/ -- Mediware Information Systems, Inc. reported revenue for the second fiscal quarter ended December 31, 2003 of $9.1 million, a 14 percent increase over the year ago period.
Operating income for the quarter just ended was $1.5 million versus $1.5 million in the second quarter of the prior fiscal year, before accounting for proceeds of $614,000 from an antitrust settlement which increased total operating income to $2.1 million.
Net income for the quarter just ended was $973,000, or 13 cents per basic share and 12 cents per fully diluted share, compared to net income in the year-ago second quarter of $918,000, or 13 cents per basic share and 12 cents per fully diluted share, before accounting for proceeds of $614,000 from the antitrust settlement which brought final net income to $1.3 million, or 18 cents per basic share and 17 cents per diluted share.
Commenting on the quarter, George Barry, Mediware’s CEO said, “We have made substantial progress with the build-out of infrastructure to handle the business expansion we anticipate as customers adopt the new technologies incorporated in our vastly improved blood banking and pharmacy management systems. Anticipated order flow from these products should contribute to a successful year.”
Second Quarter and First Six Months Fiscal 2004 and 2003 Operating Statement Highlights (in thousands) (unaudited) Three Six Months Months Ended Ended December December 31, 31, 2003 2002 2003 2002 System Sales $3,102 $3,169 $5,840 $6,595 Services $6,007 $4,836 $12,280 $9,396 Total Revenue $9,109 $8,005 $18,120 $15,991 Operating Expenses $7,634 $6,532 $14,737 $13,038 Proceeds from Settlement $ 0 ($614) $ 0 ($614) Operating Income $1,475 $2,087 $3,383 $3,567 Net Income $ 973 $1,299 $2,171 $2,221 Earnings Per Common Share - Basic $ 0.13 $ 0.18 $ 0.29 $ 0.30 Earnings Per Common Share - Diluted $ 0.12 $ 0.17 $ 0.27 $ 0.29 Second Quarter Fiscal 2004 and 2003 Condensed Balance Sheet Highlights (in thousands) (unaudited) Three Months Ended December 31, 2003 2002 Cash and Cash Equivalents $8,100 $4,614 Working Capital $7,024 $1,795 Stockholders’ Equity $26,808 $21,330
Mediware provides clinical information systems for hospitals and integrated healthcare delivery systems. Its products include HEMOCARE LifeLine(TM), Hemocare(R), LifeLine(R), LifeTrak(R), and HCLL(TM), (blood bank), WORx(R), MediMAR(TM), MediCOE(TM), Pharmakon(R), and Digimedics(TM) (pharmacy), Surgiware(TM), 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, 2003, 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.
Mediware Information Systems, Inc.
CONTACT: George Barry of Mediware Information Systems, Inc.,+1-913-307-1000; or Thomas Redington, +1-203-222-7399, +1-212-926-1733, forMediware Information Systems, Inc.
