Hypertension Diagnostics Announces First Quarter 2009 Results

ST. PAUL, MN November 13, 2008 – Hypertension Diagnostics, Inc. (OTC: HDII.OB), today announced financial results for the first quarter (Q1) of fiscal year 2009 ended September 30, 2008.

Revenue for Q1 2009 totaled $136,512 compared to $146,352 for Q1 2008 ending September 30, 2007, which represents a 6.7% decrease. The Company’s net income was $121,605 for Q1 2009 or $.00 per share, compared with a net loss of $456,208 for Q1 2008, or $(.01) per share. Included in the net income for Q1 2009 are total non-cash benefits (mainly deferred compensation, depreciation, stock options) of $204,032. In Q1 2008, total non-cash charges were $316,976. The decline in the Company’s stock price during Q1 2009 resulted in a negative expense for the Q1 2009 deferred compensation expense of $229,688. This caused the company to report net income, which would not have occurred without the negative deferred compensation expense in Q1 2009. The Company reported a cash balance on September 30, 2008 of $984,345.

“While the current quarter shows a modest decline in revenues from the comparable quarter in the last fiscal year, we are encouraged by some early success with our new sales strategy of building a network of independent distributors, “ said Mark Schwartz, Chairman and CEO. “As a result, the Company continues to add new distributors who sell the CVProfilor along with complementary products to physician customers. “
 

 

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 2008 Annual Report on Form 10-KSB, and subsequent Quarterly Reports on Form 10-Q, all of which were filed with the U.S. Securities and Exchange Commission, as well as others not now anticipated.
 

View PDF file: 2009 Quarter 1 Results
 

CVProfilor is a registered trademark of Hypertension Diagnostics, Inc.

Hypertension Diagnostics, HDI/PulseWave, PulseWave and CVProfile are trademarks of Hypertension Diagnostics, Inc. All rights reserved.

Website: www.HDII.com


Contact: Mark Schwartz, CEO
651-687-9999

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Last revised Wednesday June 23, 2010
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