Exhibit 99.1
Creative Computer Applications, Inc. Reports Sales and Earnings for the Fourth
Fiscal Quarter and Fiscal Year Ended August 31, 2004
CALABASAS, Calif.--(BUSINESS WIRE)--Nov. 24, 2004--Creative
Computer Applications, Inc., or CCA (AMEX:CAP), a provider of Clinical
Information Systems (CIS) for hospital and clinic-based laboratories,
pharmacies, and medical imaging departments, announced today its sales
and earnings for the fourth fiscal quarter and fiscal year ended
August 31, 2004.
Sales for the fourth fiscal quarter of fiscal 2004 were $2,319,715
compared to sales of $1,655,084 in the same quarter of fiscal 2003.
The Company earned net income of $335,110 or $.10 per basic and
diluted share, compared to net loss of $37,492 or $.01 per basic and
diluted share for the same period one year ago. Fourth quarter sales
increased primarily due to the introduction and transition to a new
version of the Company's Laboratory Information System (LIS) product,
CyberLAB(R) 7.0. This resulted in new sales and upgrades of current
clients on the previous version.
Sales for the fiscal year ended August 31, 2004 were $7,655,972
compared to sales of $7,381,121 for the fiscal year ended August 31,
2003. The Company earned net income of $162,624 or $.05 per basic and
diluted share compared to $94,101 or $.03 per basic and diluted share
for the same period one year ago.
Steven M. Besbeck, President and CEO, stated, "The results of
operation for our fourth fiscal quarter and fiscal year ended August
31, 2004 were indicative of an improvement in CCA's business due in
part to the release of our new Laboratory Information System, CyberLAB
7.0 earlier in 2004. CCA's results of operations for the current
fiscal year ended August 31, 2004 were marked by an increase in sales
of approximately 4% over the 2003 fiscal year and an increase in
earnings of approximately 73%. The Company's operating cash flow also
improved despite increased spending for product development
activities. We believe our transition to the new CyberLAB 7.0 product
is substantially complete as CyberLAB 7.0 is now live in eight sites
and six more sites are currently being implemented. We are pleased
that CyberLAB 7.0 is generating significant interest among new buyers
as well as CCA's installed client base."
CCA is a healthcare information technology and service provider
that provides software and browser-based solutions, specializing in
Clinical Information Systems (CIS) for hospital and clinic-based
laboratories, pharmacies, and medical 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/.
Creative Computer Applications, Inc.
Operating Results (Audited)
Quarter Ending August 31, 2004 2003
----------- -----------
Net Sales and Service Revenues $2,319,715 $1,655,084
Operating Income (Loss) $452,199 $( 92,352)
Net Income (Loss) $335,110 $(37,492)
Basic and Diluted Earnings (Loss) Per Share $.10 $(.01)
Average Shares Outstanding (Basic) 3,318,900 3,318,900
(Diluted) 3,380,797 3,318,900
Fiscal year Ending August 31, 2004 2003
----------- -----------
Net Sales and Service Revenues $7,655,972 $7,381,121
Operating Income $279,488 $128,744
Net Income $162,624 $94,101
Basic and Diluted Earnings Per Share $.05 $.03
Average Shares Outstanding (Basic) 3,318,900 3,294,108
(Diluted) 3,467,939 3,526,681
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