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"With strong revenues and good margins in the first quarter of our 2009fiscal year, our result was exceptionally strong bottom line performance,"Biotel President and CEO Steve Springrose said. "Sales of the Braemar ER920Wwireless arrhythmia monitor introduced in the fourth quarter of fiscal year2008 exceeded our expectations as one of our OEM partners ordered significantquantities of stocking units for inventory and product launch. We expect salesto this customer to continue into the second quarter, but to slowsignificantly in the second half. Sales of Braemar Holter devices, eventrecorders, liposuction equipment, other medical devices and Agility clinicalservices remained solid. Having received FDA 510(k) approval of our Fusionplatform of wireless ECG monitoring products, we are moving steadily towardintroduction of our first Fusion product early in calendar 2009. Biotel servesas a development partner to medical corporations seeking new devices andclinical research services."Highlights for the first quarter are as follows: -- Eighth consecutive profitable quarter -- Net income up 93.1% year over year -- Strong gross margin of 45.8%, versus 41.7% in the fourth quarter and 45.6% a year ago -- Strong balance sheet with no long-term bank debt -- Stockholders' equity of $5,030,000, up 22.2% year over year
SOURCE Biotel Inc.
