Global Med Technologies(R) Reports Q4 And Year End Results
DENVER, March 9 /PRNewswire-FirstCall/ -- Global Med Technologies®, Inc. (OTC Bulletin Board: GLOB) ("Global Med" or the "Company"), an international e-Health, medical information technology company, today is reporting fourth quarter and year ended December 31, 2009 results.
Global Med Technologies, Inc. (OTC Bulletin Board: GLOB.OB) Selected Results Three Months Ended December 31, In (000s) Except Per Share Information (Unaudited) 2009 2008 ---- ---- Revenues $8,113 $6,991 Depreciation and amortization 375 332 Loss from operations (1) (97) (664) Other income (expense) (166) (170) Pre-tax loss (263) (834) Income taxes benefit 44 131 Net loss (1) $(219) $(703) Basic and diluted net loss per share (1) Basic $(0.01) $(0.02) Diluted $(0.01) $(0.02) Weighted average number of common shares outstanding Basic 36,381 34,019 Diluted 36,381 34,019 EBITDA (1) $278 $(332)
Global Med Technologies, Inc. (OTC Bulletin Board: GLOB.OB) Selected Results Year Ended December 31, In (000s) Except Per Share Information (Unaudited) 2009 2008 ---- ---- Revenues $31,788 $23,369 Depreciation and amortization 1,418 794 Income from operations (1) (2) 2,705 176 Other income (expense) (708) (296) Pre-tax income (loss) 1,997 (120) Income taxes (2) (519) (299) Net income (loss) $1,478 $(419) Basic and diluted net income (loss) per share (1) Basic $0.04 $(0.01) Diluted $0.03 $(0.01) Weighted average number of common shares outstanding Basic 35,177 29,914 Diluted 44,760 29,914 EBITDA (1) (2) $4,123 $970
(1) Includes $450 thousand in costs related to the potential acquisition of the Company by Haemonetics Corporation ("Haemonetics"). These costs were expensed in the fourth quarter of 2009 and represent estimates.
(2) On September 23, 2002, the Company and PeopleMed.com, Inc. (" PeopleMed") filed a complaint against Donnie L. Jackson, Jr. (" Jackson") in a lawsuit entitled Global Med Technologies, Inc. v. Donnie L. Jackson, Jr. , et al, El Dorado Superior Court Case No. PC 20020576 (the "Lawsuit"). During 2005, the Company set up a legal accrual in the amount of $1.004 million and expensed the same amount. In 2005, the Company also deposited $1.004 million into escrow related to the Lawsuit. During 2007, the Company was returned the $1.004 million deposit. The Lawsuit was settled in 2009 and claims were released. No amount was paid by Global Med to Jackson or Mediware Information Systems, Inc. ("Mediware") and no amount was paid by Jackson or Mediware to Global Med in connection with such settlement. Jackson made a representation as part of the settlement that he does not have possession of any trade secret or proprietary material of the Company described in its complaint for damages. As a result of the above, the Company reversed the $1.004 million legal accrual and the related expense during the year ended December 31, 2009. This represents a reversal of a non-cash, non-recurring expense as the funds were returned in 2007.NON-GAAP RECONCILIATION SCHEDULE (in thousands)
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