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"Biotel made good progress building for the future in the third quarter,and the quarter's decrease in revenues had been preceded by some very strongquarters," Biotel President and CEO Steve Springrose said. "Sales of Holterdevices, event recorders, liposuction and other medical devices remain solid.The third quarter was diminished as some of our customers deferred purchasesin anticipation of important new products. We launched a new Holter platformin March and are preparing to launch our ER900 Wireless Event Recorder in ourcurrent quarter. The growth trend for our Agility 24/7 cardiac monitoringservices continued to rise in the third quarter, contributing significantly togross margin improvement. R&D expenses were up significantly in the quarter aswe invested in new products and prototype parts. These expenses are essentialto future product competitiveness. In keeping with our long-term strategy,Biotel serves as a development partner to medical corporations seeking newdevices and clinical research services."Highlights for the third quarter are as follows: -- Sixth consecutive profitable quarter -- Gross margin of 45.8%, up from 43.0% a year ago -- Strong balance sheet with no long-term debt -- Stockholders' equity of $4,445,000, up 13.0% year over year
SOURCE Biotel Inc.
