Compumed Announces Results For Second Fiscal Quarter And Contract With Charter Medical

Business Wire, May 24, 1995

MANHATTAN BEACH, Calif.--(BUSINESS WIRE)--May 24, 1995--CompuMed, Inc. (NASDAQ:CMPD) today announced revenue and earnings results for the second quarter of the 1995 fiscal year ended March 31, 1995.

Total revenues for the second quarter ended March 31, 1995 were $677,000, up 27 percent over the same period last year. Most of this increase was $106,000 in revenue received from real estate leases, which the company did not have in 1994. However, there was a modest $45,000 increase in EKG revenue which demonstrates that this business has stabilized from previous declines. Net loss for the second quarter was $455,000 or $0.08 per share compared to $2,512,000, or $0.60 per share in the same period last year. The second quarter of 1994 included $1,569,000 of expenses resulting from the acquisition and immediate write-off of the rights to Detoxahol.

The Company has also signed an agreement with Charter Medical Corp. to offer electrocardiograph services to its 120 locations nationwide. Charter Medical Corp. is the largest investor-owned provider of behavioral healthcare in the United States. CompuMed was selected based on its experience in operating a computerized telecommunications network for producing electrocardiograms on a real-time basis. The company has already installed five EKG systems with Charter.

CompuMed, based in Manhattan Beach, is focused on providing solutions to important medical problems through the use of computer technology. In addition to its cardiac telemedicine business, the company currently markets the OsteoGram(R) a test that utilizes computer image analysis of simple hand x-rays to assess bone mineral density. CompuMed is also developing Detoxahol(TM), a substance and delivery technology to facilitate the rapid reduction of blood alcohol levels in people who have been drinking. -0-

                             Compumed Inc.
                        Selected Financial Data
                     for Six Months Ended March 31,
              (Unaudited, $ in 000, except per share data)