MINNEAPOLIS, Feb. 12 Biotel Inc.(OTC Bulletin Board: BTEL) announced results for its second quarter endedDecember 31, 2008, with net earnings of $289,000, or $0.10 per diluted share,on revenues of $3,186,000. This compares to net earnings of $206,000, or $0.07per diluted share, on revenues of $2,859,000 for the second quarter of lastyear. For the six months ended December 31, 2008, Biotel had net earnings of$617,000, or $0.22 per diluted share, on revenues of $6,354,000. This comparesto net earnings of $376,000, or $0.13 per diluted share, on revenues of$5,610.000 for the first six months of last year.
"We are pleased with Biotel's revenue growth, margin improvement andoverall performance in the second quarter," Biotel President and CEO SteveSpringrose said. "Sales of the Braemar ER920W wireless arrhythmia monitorremained strong as one of our OEM partners continued ordering product forinventory stocking. We expect sales to this customer to diminish in the secondhalf. Sales of Braemar Holter devices, event recorders, liposuction equipmentand other medical devices remained solid. Having received FDA 510(k) approvalof our Fusion platform of wireless ECG monitoring products, we are beginningshipments of an evaluation version of the product this quarter, followed by aplanned limited clinical release and distribution of Fusion products in ourfourth quarter. Biotel serves as a development partner to medical corporationsseeking new devices and clinical research services."Highlights for the second quarter are as follows: * Ninth consecutive profitable quarter * Net income up 40.3% year over year * Strong gross margin of 45.9%, versus 44.7% a year ago * Strong balance sheet with no long-term bank debt * Stockholders' equity of $5,320,000, up 22.8% year over year
SOURCE Biotel Inc.