ST. PAUL, Minn., Aug. 14 /PRNewswire-FirstCall/ -- Hypertension Diagnostics, Inc. , today announced preliminary, unaudited revenue results for the fourth quarter and for the full fiscal year ended June 30, 2006.
On an unaudited basis, total revenue for the fourth quarter ending June 30, 2006 totaled $295,030 as compared to $421,335 in the prior year’s fourth quarter ended June 30, 2005, representing a 30% decrease. For fiscal year 2006, total revenue for the fourth quarter was $295,030 as compared to the third quarter revenue of $571,988, representing a 48% decrease. For the full fiscal year ended June 30, 2006, total revenue was $1,789,040, compared to $1,182,005 for the prior fiscal year ended June 30, 2005, representing a 51% increase.
“The disappointing fourth quarter results are largely due to a decline in the number of customers converting their CVProfilor rental agreement to a purchase and the longer than anticipated time it has been taking to close new customers on a capital equipment sale basis,” said Mark Schwartz, Chairman and CEO.
The Company will release its audited financial results and file its Form 10-KSB with the SEC on September 28, 2006.
Forward-looking statements in this press release are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company wishes to caution readers not to place undue reliance on any forward-looking statements and to recognize that the statements are not a prediction of actual future results. Actual results could differ materially from those presented and anticipated in the forward-looking statements due to the risks and uncertainties set forth in the Company’s 2005 Annual Report on Form 10-KSB, and subsequent Quarterly Reports on 10-QSB, all of which were filed with the U.S. Securities and Exchange Commission, as well as others not now anticipated.
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
Hypertension Diagnostics, Inc.
CONTACT: Mark N. Schwartz, CEO, Hypertension Diagnostics, Inc.,+1-651-687-9999
Web site: http://www.hdii.com/
