EXHIBIT 99.1
Creative Computer Applications, Inc. Reports Sales and Earnings for
the Third Fiscal Quarter and Nine Months Ended May 31, 2004
CALABASAS, Calif.--(BUSINESS WIRE)--July 15, 2004--Creative
Computer Applications, Inc. or CCA (AMEX:CAP), a provider of Clinical
Information Systems (CIS) for hospital and clinic-based laboratories,
pharmacies, and imaging departments, announced today its sales and
earnings for its third fiscal quarter and nine-month period ended May
31, 2004.
Sales for the third fiscal quarter ended May 31, 2004 were
$1,889,509 compared to sales of $1,989,091 for the comparable quarter
ended May 31, 2003. The Company earned net income of $9,132 or less
than $.01 per share basic and diluted earnings per share, for the
current fiscal quarter, compared to net income of $66,747, or $.02
basic and diluted earnings per share, for the comparable quarter one
year ago.
Sales for the nine-month period ended May 31, 2004 were $5,336,257
compared to sales of $5,726,037 for the comparable nine-month period
one year ago. The Company incurred a net loss of $172,486 or $.05
basic and diluted loss per share, for the current nine-month period,
compared to net income of $131,593, or $.04 basic and diluted earnings
per share, for the comparable nine-month period one year ago.
Steven M. Besbeck, President and CEO, stated, "CCA's results of
operations for our third fiscal quarter and nine-month period ended
May 31, 2004, were primarily attributable to the product transition
related to our new CyberLAB(R) 7.0 Laboratory Information System and
third party delays incurred in system implementations. While we
believe that we are in the final stages of the product transition
period, delays in system implementations can affect the recognition of
revenue and are to be expected in our business from time to time. As
of May 31, 2004, CyberLAB 7.0 was live in five sites and six
additional new sites were being implemented. We are pleased with the
acceptance of CyberLAB 7.0 among new clients as well as with our
installed base."
Creative Computer Applications, Inc.
Operating Results (Unaudited)
Three Months Ended Nine Months Ended
----------------------- -----------------------
May 31, May 31, May 31, May 31,
2004 2003 2004 2003
----------- ----------- ----------- -----------
Net Sales and Service
Revenues $1,889,509 $1,989,091 $5,336,257 $5,726,037
Gross Margin 955,331 1,028,196 2,712,828 2,942,415
Operating Income (Loss) 8,360 113,052 (172,711) 221,096
Net Income (Loss) 9,132 66,747 (172,486) 131,593
Basic Earnings (Loss)
Per Share .00 .02 (.05) .04
Diluted Earnings (Loss)
Per Share .00 .02 (.05) .04
Average Shares
Outstanding (Basic) 3,318,900 3,318,900 3,318,900 3,285,844
(Diluted) 3,427,875 3,559,335 3,318,900 3,494,041
CCA is a healthcare information technology and service provider
that provides software and browser-based solutions, specializing in
Clinical Information Systems for hospital and clinic-based
laboratories, pharmacies, and imaging departments. Its primary
products, CyberLAB(R), CyberMED(R) and CyberRAD(R) are highly
functional, scalable, and can be deployed in a variety of healthcare
settings. CCA's systems are deployed in more than 500 sites. For more
information about CCA, its products and services, visit
http://www.ccainc.com/.
This news release contains forward-looking statements made in
reliance upon the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are not
guarantees of future performance and are inherently subject to
uncertainties and other factors which could cause actual results to
differ materially from the forward-looking statement. Such statements
are based upon, among other things, assumptions made by, and
information currently available to, management, including management's
own knowledge and assessment of the Company's industry and
competition. The Company refers interested persons to its most recent
Annual Report on Form 10-KSB and its other SEC filings for a
description of additional uncertainties and factors, which may affect
forward-looking statements. The Company assumes no duty to update its
forward-looking statements.
CONTACT: Creative Computer Applications, Inc.
Steven M. Besbeck, (818) 880-6700 X-252