ST. PAUL, Minn., Nov. 14 /PRNewswire-FirstCall/ -- Hypertension Diagnostics, Inc. , today announced financial results for the first quarter of fiscal year 2007 ended September 30, 2006.
Revenue for the quarter totaled $422,485 compared to $380,916 in the prior year’s first quarter ended September 30, 2005, which represents an 11% increase. The Company incurred a net loss of $188,081 for the quarter or $0.00 per share compared with a net loss of $337,217 for the prior year’s quarter or $(.01) per share. Included in the net loss of $188,081 for the quarter are total non-cash charges (expenses associated mainly with stock compensation, depreciation, stock options) of $87,206. Included in the net loss of $337,217 for the prior year’s quarter were non-cash charges of $43,256. The Company reported a cash balance of $1,565,138 on September 30, 2006. Total tests transmitted, a key metric for gauging customer usage, was 7,632 for the quarter, a 14% increase from the prior year’s quarterly transmissions.
Forward-looking statements in this press release are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company wishes to caution readers not to place undue reliance on any forward-looking statements and to recognize that the statements are not a prediction of actual future results. Actual results could differ materially from those presented and anticipated in the forward-looking statements due to the risks and uncertainties set forth in the Company’s 2006 Annual Report on Form 10-KSB, and subsequent Quarterly Reports on 10-QSB, all of which were filed with the U.S. Securities and Exchange Commission, as well as others not now anticipated.
Hypertension Diagnostics, Inc. Summary Financial Data Statements of Operations (Unaudited) Three Months Ended September 30 2006 2005 Revenue: Equipment sales $ 333,301 $251,922 Equipment rental 75,178 121,530 Service/contract income 14,006 7,464 422,485 380,916 Cost of Sales 20,245 32,500 Gross Profit 402,240 348,416 Selling, general and administrative expenses 612,006 697,109 Operating Loss (209,766) (348,693) Other Income: Interest income 13,586 11,476 Gain on sale of property and equipment 8,099 - Total Other Income 21,685 11,476 Net Loss $(188,081) $(337,217) Basic and Diluted Net Loss per Share $(.00) $(.01) Weighted Average Shares Outstanding 40,157,106 32,930,909 Balance Sheet Data September 30, 2006 June 30, 2006 (Unaudited) (Audited) Cash and cash equivalents $1,565,138 $1,722,913 Total current assets 2,030,760 2,257,390 Total assets 2,108,631 2,345,949 Total current liabilities 370,863 489,081 Accumulated deficit (26,166,400) (25,978,319) Total shareholders’ equity 1,723,565 1,840,414 CVProfilor is a registered trademark of Hypertension Diagnostics, Inc.
Hypertension Diagnostics, HDI/PulseWave, PulseWave and CVProfile are trademarks of Hypertension Diagnostics, Inc. All rights reserved.
Website: http://www.hdii.com
Hypertension Diagnostics, Inc.
CONTACT: Mark N. Schwartz, CEO of Hypertension Diagnostics, Inc.,+1-651-687-9999
Web site: http://www.hdii.com/
