MINNEAPOLIS, Feb. 17 /PRNewswire-FirstCall/ -- Biotel Inc. announces revenues for the second quarter ended December 31, 2005 were down 4.0% to $2,493,000 versus revenues of $2,596,000 for the quarter ended December 31, 2004. Net earnings for the quarter ended December 31, 2005 were $122,000 compared to $93,000 for the quarter ended December 31, 2004. Revenues and net income for the six months ended December 31, 2005 were $5,020,000 and $296,000, respectively, versus revenues and net income of $5,087,000 and $226,000, respectively, for the six months ended December 31, 2004.
Revenues decreased slightly and earnings increased in accordance with Biotel plans in connection with discontinuation of marginally profitable product lines. OEM sales to medical corporations increased to $4,555,000 for the six months at December 31, 2005 compared to $4,336,000 for the corresponding period in 2004. Biotel President and CEO Steve Springrose said, "Biotel is pleased to have initiated securities trading on the Over the Counter Bulletin Board under the symbol BTEL.OB. We are also pleased to have experienced revenue growth from our OEM customers, and sound profitability in sales to hospitals and clinics following the discontinuation of marginal product lines."
Braemar President Harry Strandquist said, "Braemar Inc. continued its growth in Holter and arrhythmia OEM revenues over the second quarter. Enhanced relationships with existing Braemar OEMs and the addition of new product initiatives contributed to continued earnings and revenue growth. Strong efforts to coordinate and consolidate OEM product development across Biotel will create synergy and enhance productivity in coming quarters."
Biotel provides completed medical devices and services to medical corporations seeking to outsource research, development and manufacturing capabilities. Biotel subsidiaries design, accomplish regulatory approval, manufacture, and test medical devices such as: 24- and 48-hour Holter recorders, 30-day ECG event recorders, tissue extraction components, and flow control devices; provide 24/7 clinical ECG research services and Internet technologies; and develop, service, and test other custom medical devices.
3 months ended 3 months ended % December 31, 2005 December 31, 2004 Change Revenues $2,493,000 $2,596,000 -4.0 % Net Income $122,000 $93,000 +31.2% Earnings Per Share, Basic $0.05 $0.04 Earnings Per Share, Diluted $0.04 $0.03 6 months ended 6 months ended % December 31, 2005 December 31, 2004 Change Revenues $5,020,000 $5,087,000 -1.5 % Net Income $296,000 $226,000 +31.0% Earnings Per Share, Basic $0.11 $0.09 Earnings Per Share, Diluted $0.11 $0.08 For further information, contact Judy Naus at 952-890-5135 or info@biotelinc.com
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Biotel Inc.CONTACT: Judy Naus, Biotel Inc., +1-952-890-5135, info@biotelinc.com
