Healthcare information technology firm Dynamic Healthcare Technologies is predicting steadily improving financial performance and a return to profitability in fiscal 2002. In an earnings guidance released yesterday, the Lake Mary, FL-based firm said that it expects fiscal 2001 revenues to be between $25.2 million and $26 million.
The company plans to report an operating loss in the second quarter, made up of nonrecurring costs of approximately $488,000 associated with its previously announced restructuring and approximately $660,000 in routine noncash charges. Through this restructuring process, Dynamic believes that it has stabilized its revenues while cutting $4 million in operating expenses and reducing its debt.
In the third and fourth quarter, Dynamic expects to post positive EBITDA (earnings before interest, taxes, depreciation, and amortization) of $400,000 to $500,000. In fiscal 2002, Dynamic expects to post revenue growth of 7% to 10%, with earnings per share between 23¢ and 32¢ per share, post-split. Dynamic was scheduled yesterday to complete a one-for-three reverse stock split to meet Nasdaq listing requirements.
By AuntMinnie.com staff writers
June 29, 2001
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