Business
Spectral reports first quarter results
Spectral reports first quarter results.
About this update from Spectral Medical Inc
[{"type":"text","content":"\n\n\n\nTORONTO, May 9 /CNW/ - Spectral Diagnostics Inc. ("Spectral") today\nreported a loss of $207,000 (1 cent per share) for the three months ended\nMarch 31, 2007 compared to net income of $387,000 (2 cents per share) for the\nsame period last year. The prior period earnings included a one time gain of\n$2,385,000 (12 cents per share) on the sale of the Company's rapid cardiac\nbusiness that was effective February 6, 2006.\n\n\nSales for the quarter were $841,000 compared to $1,007,000 in the\nprevious year. Last year's first quarter sales included $252,000 of rapid\ncardiac test revenues related to the business that was sold.\n\n\n"Our sales this quarter were up 11% over last year on the same\ncomparative basis and our operating results improved by $1.5 million," stated\nMr. Anthony Businskas, Executive Vice President and CFO of Spectral. "We\nanticipate gradual sales increases over the remainder of the year from our\nEAA(TM) and our RapidWN(TM) products and we are confident that commercial\narrangements now under negotiation will lead to consistent growth over the\nnext several years," added Mr. Businskas.\n\n\nSpectral is a developer of innovative technologies for comprehensive\ndisease management. Spectral provides accurate and timely information to\nclinicians enabling the early initiation of appropriate and targeted therapy.\nCurrent products include Spectral's FDA approved rapid diagnostic for sepsis\n(EAA(TM)) and its FDA approved rapid diagnostic for West Nile Virus\n(RapidWN(TM)), as well as a range of other biological reagents. Spectral's\ncommon shares are listed on The Toronto Stock Exchange under the symbol SDI.\n\n\nInformation in this news release that is not current or historical\nfactual information may constitute forward-looking information within the\nmeaning of securities laws. Implicit in this information, particularly in\nrespect of the future outlook of Spectral and anticipated events or results,\nare assumptions based on beliefs of Spectral's senior management as well as\ninformation currently available to it. While these assumptions were considered\nreasonable by Spectral at the time of preparation, they may prove to be\nincorrect. Readers are cautioned that actual results are subject to a number\nof risks and uncertainties, including the availability of funds and resou...