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Hypertension Diagnostics
Announces First Quarter Fiscal Year 2010 Results ST. PAUL, MN – November 06, 2009 – Hypertension Diagnostics, Inc. (OTC: HDII.OB), today announced financial results for the first quarter (Q1) of fiscal year 2010 ended September 30, 2009.
Revenue for Q1 2010 totaled $302,075 compared to $136,512 for Q1 2009
ending September 30, 2008, which represents a 121% increase. While the
Company incurred a net loss of $780,067 for Q1 2010 or $(.02) per share,
compared with net income of $121,605 for Q1 2008, or $.00 per share,
included in the net loss for Q1 2010 are total non-cash charges
(deferred stock compensation, depreciation, stock options) of $788,190.
Therefore, the Company was profitable in the quarter before non-cash
charges. The large increase in non-cash charges was a direct result of
the rise in Company’s stock price which increased from $0.03 at the
beginning of the quarter to $0.14 as the end of the quarter. This
increase in stock price impacts the amount of the non-cash deferred
stock compensation charge. Included in the net income for Q1 2009 are
total non-cash benefits of $204,032, the result of a decline in the
Company’s stock price during last year’s first quarter which created a
non-cash benefit for the non-cash charge of deferred stock compensation.
The Company reported a cash balance on September 30, 2009 of $963,948, a
38% increase compared with a cash balance of $697,918 on June 30, 2009.
”The outlook for the second quarter is encouraging, based on preliminary
results of the number of non-START units sold. In October, it would
appear that for the calendar year so far, we have set a record,”
concluded Mr. Schwartz. |
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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 2009 Annual Report on Form 10-K, 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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