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Hypertension Diagnostics Announces Third Quarter 2009 Results ST. PAUL, MN – May 6, 2009 – Hypertension Diagnostics, Inc. (OTC: HDII.OB), today announced financial results for the third quarter of fiscal year 2009 (Q3 2009) ended March 31, 2009. Revenue for Q3 2009 totaled $64,765 compared to $103,264 for the quarter ending March 31, 2008 (Q3 2008), which represents a 37.3% decrease. The Company’s net loss was $18,989 for Q3 2009 or $.00 per share, compared with a net loss of $348,825 for Q3 2008, or $(.01) per share. Included in the net loss for Q3 2009 are total non-cash benefits (mainly deferred compensation, depreciation, stock options) of $122,123. In Q3 2008, total non-cash charges were $146,784. The decline in the Company’s stock price during Q3 2009 resulted in a negative expense for the Q3 2009 deferred compensation expense of $147,000. This caused the company to report a smaller net loss than otherwise would have been reported without the negative deferred compensation expense in Q3 2009. The Company reported a cash balance on March 31, 2009 of $803,785. For the nine month period ended March 31, 2009 (9 months FY 2009), total revenue was $338,484, compared to $395,278 for the nine month period ended March 31, 2008 (9 months FY 2008), a 14.4% decrease. For the 9 months FY 2009, the Company incurred a net loss of $88,549, including a non-cash benefit of $233,977, or $.00 per share, compared with a net loss of $639,585, including a non-cash charge of $210,890, or $(.02) per share, for the 9 months FY 2008).
“We hope that the current quarter represents a bottoming out of sales
and the severe economic environment will soon return to normal patterns
of sales activity. The financial market turmoil has had a devastating
impact on the ability of our prospective customers to obtain financing
for the type of large capital equipment purchase that a sale of the
CVProfilor DO-2020 represents,” said Mark Schwartz, Chairman and CEO.
“We are cautiously optimistic about the opportunity in the international
markets, where prevention of cardiovascular disease is becoming standard
of care. The Company has been working with new international
distributors in the European and Asian markets to compete in the
emerging vascular screening market where we believe our products have a
compelling clinical advantage over our competitors.“ |
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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.
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 Return to the Main HDI Newsroom 
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Copyright © 2010 Hypertension Diagnostics, Inc |
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