12 Sep Criticare reports 20.3 percent increase in sales
Waukesha, Wis. — Criticare Systems, Inc. on Monday announced a 20.3 percent increase in sales during its recent fourth quarter – the first full quarter of production and shipment of its MRI monitor to its original equipment manufacturer partner.
In reporting its year-end numbers, the company said fourth-quarter net sales for fiscal 2005 were $8,020,894, more than 20 percent higher than the $6,667,617 for the same period of fiscal year 2004.
Fourth quarter net income for fiscal 2005 was $371,268, or $0.03 per share compared with a $(1,708,659) net loss or $(0.15) per share for the same period of fiscal 2004.
For the full year, Criticare had net sales of $26,781,627 and a net loss of $(422,245) in fiscal 2005 as compared to net sales of $28,591,481 and a net loss of $(2,100,573) in fiscal 2004. The company said the reduction in sales for fiscal 2005 was the result of a combination of events, including the loss of Alaris Medical as a long-time OEM partner due to its acquisition by Cardinal Health, the cancellation of three oral surgery shows in the southwest and a $366,140 backlog of domestic orders that did not ship at year end.
The June 30, 2005 backlog was a record high at $9,788,682 compared to $742,183 for the same period of fiscal 2004. The current backlog consists of $8,052,614 relating to an extended delivery schedule of the MRI product, with the remainder being Criticare branded product.
Criticare designs, manufactures and markets patient monitoring systems and noninvasive sensors for hospitals and alternate health care environments throughout the world.