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Hypertension Diagnostics
Announces Third Quarter 2010 Results ST. PAUL, MN – May 19, 2010 – Hypertension Diagnostics, Inc. (OTC: HDII.OB) (www.hdii.com), today announced financial results for the third quarter of fiscal year 2010 ended March 31, 2010 (Q3 2010). Revenue for Q3 2010 totaled $126,261 compared to $64,765 for the quarter ended March 31, 2009 (Q3 2009), which represents a 95% increase. The Company’s net loss was $334,377 for Q3 2010 or $(.01) per share, compared with a net loss of $18,989 for Q3 2009, or $(.00) per share. Included in the net loss for Q3 2010 are total non-cash charges (deferred compensation, depreciation, stock options) expenses of $229,317. In Q3 2009, total non-cash benefits were $122,123. The increase in the Company’s stock price during Q3 2010 resulted in a deferred compensation charge of $198,750. The decrease in the Company’s stock price during Q3 2009 resulted in a deferred compensation benefit of $147,000. When deferred compensation expense, which is largely influenced by changes in the Company’s stock price, is excluded the Company generated a non-GAAP pro-forma net loss of $135,267 for Q3 2010 and a net loss of $165,989 for Q3 2009. For the nine month period ended March 31, 2010 (9 months FY 2010), total revenue was $886,661 compared to $338,484 for the nine month period ended March 31, 2009 (9 months FY 2009), a 162% increase. For the 9 months FY 2010, the Company incurred a net loss of $1,347,573, including a non-cash charge of $1,400,324, or $.03 per share, compared with a net loss of $88,549, including a non-cash benefit of $234,643, or $(.00) per share, for the 9 months FY 2009. When deferred compensation expense, which is largely influenced by changes in the Company’s stock price, is excluded the Company generated a non-GAAP pro-forma net loss of $25,323 for the 9 months FY 2010 and $398,299 for the 9 months FY 2009. The Company reported a cash balance on March 31, 2010 of $942,976.
“We are pleased with the continued rebound in our sales,” said Mark
Schwartz, Chairman and CEO. “Our third quarter sales results provide
encouragement that our market is recovering. We are implementing a plan
to aggressively expand our U.S. independent distribution network. Over
the next nine months, the Company’s objective is to double the number of
our independent distributor groups in the U.S.,” said Schwartz. |
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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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