Newsgroup: it.economia.borsa
Titolo: Lifeline Systems Reports Third Quarter Results

Lifeline Systems Reports Third Quarter Results
    Business/Technology Editors & Health/Medical Writers
    FRAMINGHAM, Mass.--(BUSINESS WIRE)--Oct. 17, 2002--Lifeline
Systems, Inc. (Nasdaq: LIFE) today reported that net income for the
third quarter ended September 30, 2002 rose 8 percent to $2.1 million,
or $0.32 per diluted share, from $2.0 million, or $0.30 per diluted
share, for the third quarter of 2001. Results for the prior year's
quarter included a previously disclosed tax credit. Excluding the
effects of this credit, net income rose by 25 percent. Revenues for
the quarter rose 3 percent to $26.3 million from $25.6 million for the
third quarter of 2001, reflecting increased service revenues, offset
by an anticipated decline in specialized equipment sales.
    Net income for the nine months ending September 30, 2002 increased
23 percent to $5.5 million, or $0.82 per diluted share, versus $4.5
million, or $0.69 per diluted share, for the same period in 2001.
Excluding the aforementioned tax credit, net income for the nine-month
period increased 31 percent. For the nine months ended September 30,
2002, revenues increased 9 percent to $77.7 million from $71.2 million
for the same period last year.
    Service revenue for the third quarter increased 13 percent to
$19.8 million from $17.6 million for the prior year's period. Service
gross margin was 44 percent for the quarter, up from 39 percent for
the same period last year. As expected, product revenue for the
quarter decreased 20 percent to $6.2 million from $7.7 million for the
same period in 2001, reflecting strong sales of upgraded
site-monitoring platforms in the third quarter of 2001. Lifeline
continues to experience a solid balance sheet with strong cash flow,
an improved receivable portfolio and virtually no debt.
    "We are achieving our ongoing goal of improving our service
margins thereby increasing overall profitability," said President and
Chief Executive Officer Ron Feinstein. "As expected, product sales
were down for the quarter as we neared the market saturation point for
sales and installation of our highly successful new site monitoring
platforms to affiliate hospitals providing monitoring on a local
basis. We expect continued gradual declines in product revenue to
hospital customers as they convert to non-purchase models," he said.
    "In addition to improved margins and excellent customer service,
driving service business growth remains an important focus. Our next
major push in this area is the 2003 roll out of our healthcare
direct-marketing initiative to support the market development
activities of our community hospitals," Feinstein added.
    As previously announced Lifeline will be opening a second U.S.
call center and customer service site to be based in Framingham, Mass.
Work on the build-out of the new facility has begun, and Lifeline
expects to occupy it in the second quarter of 2003.
    Lifeline management will conduct a conference call October 18,
2002 at 10:00 a.m. ET to discuss third quarter 2002 results in more
detail. The call will be accessible via telephone at 
(877) 780-2271
,
PIN 3487800. The international dial-in number is 
(973) 582-2737
. A
replay of the call will be available at 
(877) 519-4471
 (U.S.) or
(973)-341-3080
 (international), with the same PIN, beginning at 12:00
p.m. Friday, October 18 through midnight Friday, October 25, 2002.
    Lifeline is the leading provider of personal response services in
the United States and Canada, currently serving approximately 363,000
subscribers from response centers in Massachusetts, Ontario and
Quebec. Lifeline is committed to providing reassurance and peace of
mind to people who live alone and are faced with isolation and
loneliness, as well as the need for emergency response. Lifeline does
this by combining dedicated, well-trained people with advanced
technology.
    For more information about Lifeline Systems visit:
www.lifelinesys.com
    This press release may contain forward-looking statements relating
to the future performance of Lifeline Systems, Inc. Forward-looking
statements, specifically those concerning future performance, are
subject to certain risks and uncertainties, and actual results may
differ materially from expectations. These risks and uncertainties
include the risk of adjustment to the company's quarterly financial
statements upon review or audit, the uncertainty associated with the
transition to internally supporting a manufacturing assembly process
for its personal response equipment, the cost of replacing the
company's personal help buttons which exhibit an erroneous low-battery
signal, the timing and magnitude of the transition in the company's
revenue mix, the risks associated with the intended productivity
improvements and other benefits from its CareSystem monitoring
platform, and other risk factors detailed from time to time in the
Company's filings with the Securities and Exchange Commission (SEC),
including the Company's Annual Report on Form 10-K, Forms 10-Q, and
other filings and releases.
-0-
*T
                        Lifeline Systems, Inc.
                   CONSOLIDATED STATEMENTS OF INCOME
                 (In thousands except per share data)
                         Three months ended     Nine months ended
                            September 30,         September 30,
                            2002     2001       2002        2001
Revenues
 Services                 $19,841  $17,577    $57,479     $50,328
 Net product sales          6,167    7,669     19,200      19,888
 Finance and rental income    338      337        987       1,029
  Total revenues           26,346   25,583     77,666      71,245
Costs and expenses
 Cost of services          11,115   10,778     32,727      30,840
 Cost of sales              1,746    2,601      5,978       6,594
 Selling, general and
  administrative            9,548    8,740     28,463      25,294
 Research and development     387      410      1,298       1,185
  Total costs and expenses 22,796   22,529     68,466      63,913
Income from operations      3,550    3,054      9,200       7,332
Other income, net              22     (147)       (37)       (203)
Income before taxes         3,572    2,907      9,163       7,129
Provision for income taxes  1,429      929(1)   3,666       2,665(1)
Net income                 $2,143   $1,978     $5,497      $4,464
Net income per weighted
 average share:
  Basic                     $0.33    $0.32      $0.86       $0.73
  Diluted                   $0.32    $0.30      $0.82       $0.69
Weighted average shares:
  Basic                     6,458    6,174      6,407       6,122
  Diluted                   6,728    6,536      6,730       6,440
(1) Includes the positive impact of a tax credit of approximately
$260,000
                        LIFELINE SYSTEMS, INC.
                      CONSOLIDATED BALANCE SHEETS
                        (Dollars in thousands)
                                                  Sept. 30,   Dec. 31,
                                                    2002        2001
ASSETS
Current assets:
 Cash and cash equivalents                       $  7,511    $  5,742
 Accounts receivable, net of allowance
  for doubtful accounts                            10,535      12,118
 Inventories                                        6,245       4,129
 Net investment in sales-type leases                2,322       2,874
 Prepaid expenses and other current assets          2,217       1,947
 Deferred income taxes                              1,478       1,436
  Total current assets                             30,308      28,246
Property and equipment, net                        30,749      30,712
Net investment in sales-type leases                 4,277       4,337
Goodwill                                            8,790       7,226
Intangible assets, net                              5,365       6,414
Other assets                                           88          67
 Total assets                                    $ 79,577    $ 77,002
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
 Accounts payable                                $  1,869    $  1,972
 Accrued expenses                                   4,152       2,197
 Accrued payroll and payroll taxes                  3,421       4,282
 Accrued income taxes                               2,164         730
 Deferred revenues                                  1,035       1,026
 Current portion of capital lease obligation          104       1,080
 Current portion of long term debt                   --         1,105
 Product warranty and other current liabilities       245         329
 Accrued restructuring and other
  non-recurring charges                               163         506
  Total current liabilities                        13,153      13,227
Deferred income taxes                               6,191       5,799
Long term portion of capital lease obligation          25       1,657
Long term debt, net of current portion               --         3,343
Accrued restructuring and other
 non-recurring charges, long term                     261         617
Other non-current liabilities                          75         150
  Total liabilities                                19,705      24,793
Commitments and contingencies
Stockholders' equity:
 Common stock, $0.02 par value,
 20,000,000 shares authorized,
  7,081,400 shares issued at
  September 30, 2002 and 6,934,461
  shares issued
  at December 31, 2001                                142         139
 Additional paid-in capital                        23,616      22,000
 Retained earnings                                 40,943      35,446
 Less: Treasury stock at cost,
  621,089 shares at September 30, 2002
  and  December 31, 2001                           (4,556)     (4,556)
  Notes receivable - officer                         --          (550)
  Accumulated other comprehensive
   loss-cumulative translation adjustment            (273)       (270)
   Total stockholders' equity                      59,872      52,209
    Total liabilities and stockholders' equity   $ 79,577    $ 77,002
*T
    --30--bh/bos*
    CONTACT: Lifeline Systems, Inc.
             Dennis Hurley, 
508/988-1382
    KEYWORD: MASSACHUSETTS
    INDUSTRY KEYWORD: BIOTECHNOLOGY MEDICAL MEDICAL DEVICES
PHARMACEUTICAL EARNINGS
    SOURCE: Lifeline Systems, Inc.

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 Cazzo non sò l'inglese!!!
vorrai mica che te le traduca?
sta roba qua la trovi solo tra mezzora sui siti finanziari usa.....
approfittane, investi in un corso di inglese :-)
ciaooo

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