MINNEAPOLIS, Nov. 16 /PRNewswire-FirstCall/ -- Biotel Inc. announces revenues and net income for the first quarter ended September 30, 2005 of $2,527,000 and $174,000, respectively, versus revenues and net income of $2,491,000 and $133,000, respectively, for the quarter ended September 30, 2004. Income from operations was up 38% to $291,000 in the first quarter of fiscal 2006 compared to $211,000 in the first quarter of fiscal 2005.
Biotel President and CEO Steve Springrose said, “Biotel has been expanding its range of high technology medical devices, and has found success selling products of its own design, testing, and manufacture to medical corporations seeking to outsource completed medical devices. Biotel products, primarily sold to manufacturers of cardiology and cosmetic surgery systems, offer an excellent blend of performance, reliability, and value. As a result, specialized medical devices made by Biotel are a cost effective way for medical corporations to complement their overall product range. Biotel is pleased to report record first quarter revenues in fiscal year 2006 following an exceptionally strong first quarter in the previous year. We believe these results are indicative of the overall success of Biotel’s marketing plan.”
In October 2005, Biotel settled its litigation involving a former executive officer, Carroll L. Turner. Biotel paid $25,000 to resolve the matter, which amount included $21,000 of accrued vacation pay owed to Mr. Turner. Mr. Springrose commented that “Biotel is pleased to have favorably concluded this matter.”
Biotel Inc. is comprised of four business units, all of which are wholly owned subsidiaries. Three of the business units, Braemar, Inc., Carolina Medical, Inc. and Agility Centralized Research Services, Inc., sell medical devices, technology and research services to medical companies. Advanced Biosensor Inc., the fourth business unit, sells Holter diagnostic cardiology devices and maintenance services to end users in hospitals and clinics.
3 months ended 3 months ended % September 30, 2005 September 30, 2004 Change Revenues $2,527,000 $2,491,000 1.5% Net Income (Loss) $174,000 $133,000 30.8% Earnings (Loss) Per Share $0.07 $0.05 40.0% For further information, contact Steve Springrose at 612-605-5366 or info@biotelinc.com
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Biotel Inc.
CONTACT: Steve Springrose, Biotel Inc., +1-612-605-5366, orinfo@biotelinc.com
