SOURCE: Hypertension Diagnostics

Hypertension Diagnostics

Hypertension Diagnostics

February 13, 2009 17:30 ET

Hypertension Diagnostics Announces FY 2009 Second Quarter Results

ST. PAUL, MN--(Marketwire - February 13, 2009) - Hypertension Diagnostics, Inc. (OTCBB: HDII), today announced financial results for the second quarter (Q2) of fiscal year 2009 ended December 31, 2008.

Revenue for Q2 2009 totaled $137,207 compared to $145,662 for Q2 2008 ending December 31, 2007, which represents a 5.8% decrease. The Company's net loss was $191,165 for Q2 2009 or $.00 per share, compared with a net income of $165,448 for Q2 2008, or $.00 per share. Included in the net loss for Q2 2009 are total non-cash charges (mainly deferred compensation, depreciation, stock options) of $92,178. In Q2 2008, total non-cash benefits were $252,870. The decline in the Company's stock price during Q2 2008 resulted in a negative expense for the Q2 2008 deferred compensation expense of $283,500. This caused the company to report net income, which would not have occurred without the negative deferred compensation expense in Q2 2008. The Company reported a cash balance on December 31, 2008 of $914,741.

For the six month period ended December 31, 2008, total revenue was $273,719, compared to $292,014 for the six month period ended December 31, 2007, a 6.3% decrease. For the six month period ended December 31, 2008, the Company incurred a net loss of $69,560, including a non-cash benefit of $111,854, or $.00 per share, compared with a net loss of $290,760, including a non-cash charge of $64,106, or $(.01) per share, for the six month period ended December 31, 2007.

"While the current quarter shows a decline in revenues from the comparable quarter in the last fiscal year, we are excited by the opportunity in the international markets, where prevention of cardiovascular disease is becoming standard of care," said Mark Schwartz, Chairman and CEO. "The Company has been working with new international distributors in the European and Asian markets to compete in the emerging vascular screening market where we believe our products have a compelling clinical advantage over our competitors."

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 2008 Annual Report on Form 10-KSB, and subsequent Quarterly Reports on Form 10-Q, 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.
                            Summary Financial Data

Statements of
 Operations

                         Three Months Ended          Six Months Ended
                              December 31               December 31
                       -----------  -----------  -----------  ------------
                           2008         2007         2008         2007
                       -----------  -----------  -----------  ------------

Revenue:
  Equipment sales      $    96,837  $    91,705  $   178,837  $    183,635
  Equipment rental          24,119       35,558       49,816        81,785
  Service/contract
   income                   16,251       18,399       45,066        26,594
                       -----------  -----------  -----------  ------------
                           137,207      145,662      273,719       292,014
Cost of Sales                2,976       12,113        7,507        14,441
                       -----------  -----------  -----------  ------------
    Gross Profit           134,231      133,549      266,212       277,573

Selling, general &
 administrative
 expenses                  328,759      (17,963)     345,619       597,022
                       -----------  -----------  -----------  ------------
    Total Expense          328,759      (17,963)     345,619       597,022
                       -----------  -----------  -----------  ------------
    Operating Income
     (Loss)               (194,528)     151,512      (79,407)     (319,449)

   Interest income           3,363       13,936        9,847        28,689
                       -----------  -----------  -----------  ------------
    Net Income (Loss)  $  (191,165) $   165,448  $   (69,560) $   (290,760)
                       ===========  ===========  ===========  ============

Basic and Diluted Net
 Loss per Share        $       .00  $       .00  $       .00  $       (.01)
Basic and Diluted
 Weighted Average
 Shares Outstanding     40,795,820   39,666,835   40,579,411    39,658,077



Balance Sheet Data
                            December 31, 2008  June 30, 2008
                            -----------------  -------------

Cash and cash equivalents   $         914,741  $   1,081,868

Total current assets                1,201,440      1,408,379

Total assets                        1,215,702      1,427,786

Total current liabilities             394,157        585,280

Accumulated deficit               (27,255,727)   (27,186,167)

Total shareholders' equity            793,171        816,981

Contact Information

  • Contact:
    Mark N. Schwartz
    CEO
    (651) 687-9999