For Further Information
Spacelabs Healthcare, Inc
Jeremy Norton - Director, Investor Relations
12525 Chadron Ave
Hawthorne CA 90250
(310) 349 2372
SPACELABS HEALTHCARE FIRST QUARTER RESULTS
HAWTHORNE, Calif.--(BUSINESS WIRE)--November 6, 2007: OSI Systems, Inc. the
majority shareholder of Spacelabs Healthcare, Inc. (LSE: SLAB) today announced
its third quarter segment operating results for its healthcare business.
Three Months Ended September 30,
--------------------------------
2006 2007 Difference
---- ---- ----------
Revenue $48,231 $56,598 17%
Income (Loss) from Operations $(4,263) $1,051
The results for Spacelabs Healthcare are being reported as part of OSI Systems
healthcare segment. As such, these results are segment results as defined by
U.S. GAAP, and therefore differ from those that would be reported for Spacelabs
Healthcare on a stand-alone basis. These results do not reflect certain costs
and expenses relating to services provided by OSI Systems to Spacelabs
Healthcare during the quarter.
Deepak Chopra, Spacelabs Healthcares' CEO, stated, "We are pleased with the
start to the fiscal year with revenues increasing 17% to $56.6 million compared
to $48.2 million in the first quarter of fiscal 2007. The improvement in revenue
and operating income is attributable to a pick up in North American patient
monitoring sales along with the cost-cutting initiatives that the Company
undertook in the previous fiscal year. We will continue to implement and monitor
operational improvements throughout the business and expect to extend this
positive performance for the remainder of the fiscal year."
About Spacelabs Healthcare, Inc.
Spacelabs Healthcare, Inc. (www.spacelabshealthcare.com) is an international
developer, manufacturer and distributor of medical equipment and services
including patient monitoring solutions, anesthesia delivery and ventilation
systems, pulse oximeters and sensors and bone densitometers selling to
hospitals, clinics and physicians offices. Additionally, the Company provides
ECG laboratory services to pharmaceutical companies undertaking clinical trials,
whereby patient ECG data is recorded, analyzed, tabulated and interpreted.
The Company has established brand names in both medical devices and medical
services such as "Spacelabs," "Blease" and "Del Mar Reynolds." The Company
employs approximately 1,050 personnel in its 14 offices in UK, Canada, France,
Germany, Finland, India, Singapore and the United States.
This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Such statements include information
regarding the Company's expectations, goals or intentions about the future. The
actual results may differ materially from those described in or implied by any
forward-looking statement. Other important factors are set forth in the
Securities and Exchange Commission filings of OSI Systems, Inc. All
forward-looking statements speak only as of the date made, and the Company
undertakes no obligation to update these forward-looking statements.