ST. PAUL, Minn., Nov. 14 /PRNewswire-FirstCall/ -- Hypertension Diagnostics, Inc. , today announced financial results for the first quarter of fiscal year 2008 ended September 30, 2007.
Revenue for the quarter totaled $146,352 compared to $422,485 in the prior year’s first quarter ended September 30, 2006, a 65.4% decrease. The Company incurred a net loss of $456,208 for the current quarter or $(.01) per share compared with a net loss of $188,081 for the prior year’s quarter or $(.00) per share. Included in the net loss of $456,208 for the quarter are total non-cash charges (expenses associated mainly with stock compensation, depreciation, stock options) of $316,976. Included in the net loss of $188,081 for the prior year’s first quarter were non-cash charges of $87,206. The Company reported a cash balance of $1,467,575 on September 30, 2007, an increase from $1,376,632 reported on June 30, 2007.
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 2007 Annual Report on Form 10-KSB, and subsequent Quarterly Reports on Form 10-QSB, all of which were filed with the U.S. Securities and Exchange Commission, as well as others not now anticipated.
http://www.hdii.com
CONTACT: Mark N. Schwartz, CEO of Hypertension Diagnostics, Inc.,
+1-651-687-9999
Web site: http://www.hdii.com/
