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Hypertension Diagnostics
Announces Second Quarter 2010 Results ST. PAUL, MN – February 19, 2010 – Hypertension Diagnostics, Inc. (OTC: HDII.OB) (www.hdii.com), today announced financial results for the second quarter (Q2) of fiscal year 2010 which ended December 31, 2009. Revenue for Q2 2010 totaled $458,325 compared to $137,207 for Q2 2009 which ended December 31, 2008, which represents a 234% increase. Q2 revenue from the sale of the Company’s research product used in the START sub-study on Arterial Elasticity that is examining blood vessel function and cardiovascular risk during HIV infection and funded by the National Institutes of Health (NIH) was $106,340. As December 31, 2009, 13 of the 15 total START units have been shipped; therefore the Company does not expect any material recurring revenue from START. Q2 revenue from non-START sources was $351,985, a 157% increase from the prior year’s second quarter total revenue and a 73% increase from Q1 2010’s non-START revenue of $203,330. Total revenue for Q2 2010 increased 52% from total revenue for Q1 2010 of $302,076. “We are pleased by the magnitude of our second quarter sales growth, said Mark Schwartz, Chairman and CEO. For the first half of fiscal year 2010, HDI has generated 150% of the revenue generated for the entire fiscal year 2009. We are on track to have one of our best years in recent memory,” continued Schwartz. Net loss for Q2 2010 was $233,129 or $(.01) per share, compared to a net loss of $191,165 for Q2 2009, or $.00 per share. Included in the net loss for Q2 2010 are total non-cash charges (deferred compensation, depreciation, stock options expense) of $328,817. In Q2 2009, total non-cash charges were $92,178. Excluding deferred compensation expense, which is largely influenced by changes in the company’s stock price, the Company generated non-GAAP pro-forma net income of $126,495 for Q2. The Company reported a cash balance on December 31, 2009 of $1,071,822.
For the six month period which ended December 31, 2009, total revenue
was $760,400, compared to $273,719 for the six month period which ended
December 31, 2008, a 178% increase. For the six month period which ended
December 31, 2009, the Company incurred a net loss of $1,013,196 or
$(.02) per share, including a non-cash charge of $1,171,007, compared
with a net loss of $69,560 or $.00 per share, including a non-cash
benefit of $111,855, for the six month period which ended December 31,
2008. Excluding deferred compensation expense, the Company generated
non-GAAP pro-forma net income of $110,303 for six months which ended
December 31, 2009. |
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About Hypertension Diagnostics, Inc.
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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