MINNEAPOLIS, Feb. 18 /PRNewswire-FirstCall/ -- Biotel Inc. (OTC Bulletin Board: BTEL) announced results for its second quarter ended December 31, 2009, with a net loss of ($47,000), or (0.02) per diluted share, on revenues of $2,452,000. This compares to net earnings of $289,000, or $0.10 per diluted share, on revenues of $3,186,000 for the second quarter of last year. For the six months ended December 31, 2009, Biotel had net earnings of $81,000, or $0.03 per diluted share, on revenues of $5,175,000. This compares to net earnings of $617,000, or $0.22 per diluted share, on revenues of $6,354,000 for the first six months of last year.
Highlights for the second quarter are as follows:
Biotel serves as a development partner to medical corporations seeking new devices and clinical research services.
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Highlights for the second quarter are as follows:
- Reduced revenues arising from reduced wireless product sales activity
- First quarterly loss after twelve successive profitable quarters
- Quarterly legal expenses related to:
- a complaint filed by Biotel versus CardioNet related to merger consummation, and
- a patent complaint filed by LifeWatch versus Braemar
- Cash position remains strong, at $1.7 million, with no bank debt
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Biotel serves as a development partner to medical corporations seeking new devices and clinical research services.
3 months ended 3 months ended % December 31, 2009 December 31, 2008 Change ----------------- ----------------- ------ Revenue $2,452,000 $3,186,000 (23.0%) Net Income (Loss) (47,000) $289,000 (116.3%) Earnings Per Share, Basic ($0.02) $0.10 Earnings Per Share, Diluted ($0.02) $0.10 6 months ended 6 months ended % December 31, 2009 December 31, 2008 Change ----------------- ----------------- ------ Revenue $5,715,000 $6,354,000 (10.1%) Net Income $81,000 $617,000 (86.9%) Earnings Per Share, Basic $0.03 $0.22 Earnings Per Share, Diluted $0.03 $0.22SOURCE Biotel Inc.