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Biotel Reports Q2 Fiscal 2009 Results

Biotel Incorporated (Biotel) has reported revenues of $3.18 million for the second quarter of fiscal 2009, compared to the revenues of $2.85 million in the year-ago quarter. It has also reported net earnings of $0.28 million, or $0.10 per diluted share, for the second quarter of fiscal 2009, compared to a net earnings of $0.20 million, or $0.07 per diluted share, in the year-ago quarter.

For the six months of 2008, Biotel had net earnings of $617,000, or $0.22 per diluted share, on revenues of $6,354,000. This compares to net earnings of $376,000, or $0.13 per diluted share, on revenues of $5,610.000 for the first six months of last year.

Highlights for the second quarter are as follows:

Ninth consecutive profitable quarter

Net income up 40.3% year over year

Strong gross margin of 45.9%, versus 44.7% a year ago

Strong balance sheet with no long-term bank debt

Stockholders’ equity of $5,320,000, up 22.8% year over year

‘We are pleased with Biotel’s revenue growth, margin improvement and overall performance in the second quarter,’ Biotel president and chief executive officer Steve Springrose said. ‘Sales of the Braemar ER920W wireless arrhythmia monitor remained strong as one of our OEM partners continued ordering product for inventory stocking. We expect sales to this customer to diminish in the second half. Sales of Braemar Holter devices, event recorders, liposuction equipment and other medical devices remained solid. Having received FDA 510(k) approval of our Fusion platform of wireless ECG monitoring products, we are beginning shipments of an evaluation version of the product this quarter, followed by a planned limited clinical release and distribution of Fusion products in our fourth quarter. Biotel serves as a development partner to medical corporations seeking new devices and clinical research services.’