MINNEAPOLIS, Nov. 14 /PRNewswire-FirstCall/ -- Biotel Inc. announced strong sales and earnings for its first quarter ended September 30, 2007. The Company had net earnings of $170,000, or $0.06 per diluted share, on revenues of $2,751,000. This compares to a net loss of $11,000, or $0.00 per diluted share, on revenues of $2,424,000 for the first quarter of last year.
“We had a strong first quarter beginning our fiscal year with year over year growth in product and service revenues and improved margins,” Biotel President and CEO Steve Springrose said. “Compared to the first quarter of fiscal 2007, we had increased sales of our Braemar cardiac event recorders, Holter devices, liposuction and other medical devices. Revenues from our Agility 24/7cardiac monitoring services for clinical research continued to grow rapidly. Biotel continues to serve as a development partner to medical corporations seeking new devices and clinical research services, in keeping with our long-term strategy.”
In the first quarter, Biotel held operating expenses flat from a year ago, even with a 10.3% increase in Research and Development. “We continued to put emphasis on R&D to expand our proprietary technology across our product spectrum,” Springrose commented. “Most importantly, we received FDA 510(k) clearance in October to market our Braemar ER900 Wireless Event Recorder. This is a cardiac looping recorder and cellular transmitter, the first in a series of Braemar wireless products that will transmit cardiac information through cellular networks without patient interaction. We believe this will give us a leadership position in a new era of cardiac monitoring technology.”
CONTACT: Judy Naus of Biotel Inc., +1-651-286-8623, info@biotelinc.com
