Exhibit 99.1
Aspyra Reports Results of Operations for the
Second Quarter Ended June 30, 2006
CALABASAS, Calif.--(BUSINESS WIRE)--Aug. 15, 2006--Aspyra, Inc.
(AMEX:APY), a provider of clinical and diagnostic information systems
for the healthcare industry, today reported its results of operations
for the second quarter ended June 30, 2006.
Sales were $3,217,821 for the second quarter compared with sales
of $1,556,007 for the comparable quarter ended June 30, 2005. The
Company incurred a net loss of $1,064,180, or basic and diluted loss
per share of $.11 for the quarter ended June 30, 2006, compared with a
net loss of $238,538, or basic and diluted loss per share of $.07 for
the comparable quarter ended June 30, 2005. Basic and diluted shares
outstanding for each period were 9,614,200 and 3,383,233,
respectively.
Sales were $5,919,896 for the six months ended June 30, 2006,
compared with sales of $3,381,295 for the six months ended June 30,
2005. The Company incurred a net loss of $2,377,898, or basic and
diluted loss per share of $.26 for the six months ended June 30, 2006,
compared with a net loss of $425,502, or basic and diluted loss per
share of $.13 for the comparable six-month period ended June 30, 2005.
Basic and diluted shares outstanding for each period were 9,051,800
and 3,368,567, respectively.
Steven M. Besbeck, Aspyra's President and Chief Executive Officer,
stated, "Although we improved our operating results over the first
fiscal quarter of 2006, through increased revenues and a reduced
operating loss, we are still not at an optimum operational status. We
have incurred delays related to timely closing of sales and
implementation of systems. These delays prevented us from recognizing
revenues on many of our sales, which increased the Company's deferred
revenue as of June 30, 2006. The backlog of deferred revenue
associated with such sales will be recognized in future periods. The
Company made good progress during the second fiscal quarter of 2006 in
executing the integration and restructuring plan related to the merged
businesses of Creative Computer Applications, Inc. and StorCOMM, Inc.
but also continued to incur costs associated with the plan, which were
only partially offset by reductions in redundant personnel and other
expenses during the quarter ended June 30, 2006. We expect to achieve
synergies and cost reductions in our business as we complete the
integration by the end of our fourth quarter."
Aspyra Inc. is a global provider of clinical and diagnostic
information solutions for the healthcare industry. It has accumulated
over 35 years of industry experience, specializing in enterprise-wide
systems for hospitals, multi-specialty clinics, clinical laboratories,
imaging departments and centers, orthopedic environments and
pharmacies. Aspyra's highly scalable products may be installed as
standalone or integrated to provide a single-vendor solution. For more
information on Aspyra, its products and services, visit
www.aspyra.com.
Safe Harbor Statement
This press release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including statements related to anticipated revenues, expenses,
earnings, operating cash flows, the outlook for Aspyra's markets and
the demand for its products. 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 as of today August 15,
2006, including management's own knowledge and assessment of the
Company's industry and competition. Factors that could cause Aspyra's
actual results to differ materially from these forward-looking
statements include among others: whether the combined company will
realize the potential benefits of the merger; the competitive
environment; unexpected technical and marketing difficulties inherent
in major product development efforts; the potential need for changes
in our long-term strategy in response to future developments; future
advances in clinical information technology and procedures, as well as
potential changes in government regulations and healthcare policies;
and rapid technological change in the microelectronics and software
industries. 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.
Consolidated Statement of Operations
Second Quarter Ended Six Months Ended
June 30, June 30,
2006 2005 2006 2005
------------ ----------- ------------ -----------
Net Sales $ 3,217,821 $1,556,007 $ 5,919,896 $3,381,295
Net Loss $(1,064,180) $ (238,538) $(2,377,898) $ (425,502)
Net Loss per Share -
Basic and Diluted $ (0.11) $ (0.07) $ (0.26) $ (0.13)
Average Shares
Outstanding - Basic
and Diluted 9,614,200 3,383,233 9,051,800 3,368,567
CONTACT: Aspyra, Inc.
Steven M. Besbeck, 818-880-6700
or
The Wall Street Group, Inc.
Ron Stabiner, 212-888-4848