Healthcare Technologies Reports 2007 Nine Months & Third Quarter Results
November 23 2007 - 7:00AM
PR Newswire (US)
PETACH TIKVA, Israel, November 23 /PRNewswire-FirstCall/ --
Healthcare Technologies, Ltd. (NASDAQ:HCTL), today announced
unaudited results for nine months and the third quarter ended
September 30, 2007. Revenues for the third quarter of 2007 were
$4.0 million, as compared to $3.1 million for the corresponding
quarter last year. The third quarter gross profit was $1.4 million,
as compared to $1.0 million in the third quarter of 2006. The net
profit for the quarter was $189 thousand or $0.02 per share,
compared to $34 thousand, or $0 per share for the third quarter of
last year. Revenues for the first nine months of 2007 were $11.7
million, compared to $10.1 million for the first nine months of
2006. The gross profit for the first nine months was $3.8 million
versus $3.6 million for the same period in 2006. The net loss for
the period was $130 thousand, or $0.02 per share, versus a net
profit of $557 thousand, or $0.07 per share for the same period
last year. Shareholders' equity on September 30, 2007 was $7.1
million, compared to $7.3 million on December 31, 2006. Current
assets net of current liabilities at the end of the period were
$1.2 million, compared to $2.6 million on December 31, 2006. About
Healthcare Technologies Healthcare Technologies Ltd. through it
subsidiaries and affiliate Gamidor Diagnostics (1984) Ltd. ,Danyel
Biotech Ltd. and Savyon Diagnostics Ltd., specializes in
development, manufacturing and marketing of clinical diagnostic
test kits and provides services and tools to diagnostic and biotech
research professionals in laboratory and point of care sites
worldwide. Healthcare Technologies, Ltd. Condensed Consolidated
Statement of Operations (U.S. Dollars in Thousands, Except Profit
(Loss) Per Share Information) Three Months Ended Nine Months Ended
Year Ended 09/30/07 09/30/06 09/30/07 09/30/06 31/12/06 Sales
$4,035 $3,066 $11,789 $10,116 $13,656 Gross profit $1,397 $1,025
$3,827 $3,591 $4,775 Net profit (Loss) $189 $34 $(130) $557 $210
Profit (Loss) per share $0.02 $0.00 $(0.02) $0.07 $0.03 Weighted
average number of Shares and share equivalents Outstanding (in
Thousands) 7,793 7,703 7,793 7,703 7,715 Consolidated Balance Sheet
, (U.S $ in thousands) 09/30/07 09/30/06 12/31/06 Cash and cash
equivalents $238 $467 $361 Total current assets $7,662 $7,055
$7,672 Total current liabilities $6,442 $4,680 $5,055 Shareholder's
equity $7,151 $7,621 $7,315 Safe Harbor: This press release
contains certain forward looking statements within the meaning of
section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. With the exception of historical
information contained herein, the matters discussed in this press
release involve risk and uncertainties. Actual results could differ
materially from those expressed in any forward looking statement
made by or on behalf of Healthcare Technologies Ltd. Readers are
referred to the documents filed by the company with the Securities
Exchange Commission, specifically the most recent report on Form
20F that identifies important risks which could cause actual
results to differ from those contained in the forward looking
statements. FOR: Healthcare Technologies Ltd CONTACT: Eran Rotem
CFO +972-3-9277232/3 DATASOURCE: Healthcare Technologies Ltd
CONTACT: FOR: Healthcare Technologies Ltd, CONTACT: Eran Rotem CFO,
+972-3-9277232/3
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