Healthcare technologies has reported revenues for the first six
months of 2006 were $7.05 million, compared to $5.89 million for the
first six months of 2005. This reflects an increase of 20% which are
related mainly to business transaction in the genetic and chemistry
markets, as well as increased sales to the biotech research industry.
The gross profit for the first half of the year was $2.56 million versus
$2.11 million for the same period in 2005. The net profit for such
period was $523 thousand, versus a net profit of $202 thousand, for the
first half of 2005.
Revenues for the second quarter of 2006 were $3.45 million, as
compared to $2.78 million for the corresponding quarter last year.
During the second quarter, there was no revenue nor profit recognition
from the company's participation in the neo-natal screening project
at the State of Israel's Sheba Medical Center-which was described
in the company's press release issued on June 28, 2006. They expect
to recognize additional income from the Sheba project during Q4 2006
according to the milestones of the project. The second quarter gross
profit was $1.18 million, as compared to $1.00 million in the second
quarter of 2005. The net profit for the second quarter was $171
thousand, compared to a net profit of $39 thousand, for the second
quarter of last year.
"During the second quarter we continued to generate good
financial results which are in-line with our plan." Said Moshe
Reuveni, chief executive officer of Healthcare. "while our market
environment remained challenging, we are pleased with the improvement in
our operating results."
Shareholders' equity on June 30, 2006 was $7.5 million,
compared to $6.8 million on December 31, 2005. Current assets net of
current liabilities at the end of the period were $2.5 million, compared
to $2.3 million on December 31, 2005.
About Healthcare Technologies (NASDAQ: HCTL)
Healthcare Technologies Ltd. through it subsidiaries and affiliate
Gamidor Diagnostics (1984) Ltd., Danyel Biotech Ltd. and Savyon
Diagnostics Ltd., specializes in development, manufacturing and
marketing of clinical diagnostic test kits and provides services and
tools to diagnostic and biotech research professionals in laboratory and
point of care sites worldwide.
For more information, visit http://www.hctech.com.
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