CULVER CITY, Calif., Aug. 15, 2001 (PRIMEZONE) -- CARESIDE, Inc. (AMEX:CSA), a provider of point-of-care blood analysis instrumentation and records management, today announced that it has filed its Form 10-Q for the second quarter and six months ended June 30, 2001. In the filing, the Company included non-cash charges to record accreted dividends associated with its Series C Preferred Stock of $885,000 for the second quarter and $919,000 for the six months ended June 30, 2001, bringing the total charges for accrued and accreted dividends to $892,000 and $939,000, respectively. As a result of these non-cash charges, the Company's net loss to common shareholders totaled $8.4 million, or $0.73 loss per share, for the second quarter and $11.7 million, or $1.04 loss per share, for the six months ended June 30, 2001. In its August 9, 2001 news release, which was disseminated before the Form 10-Q was filed, the Company reported a net loss to common shareholders of $7.5 million, or $0.66 loss per share for the second quarter and $10.9 million, or $0.96 loss per share, for the six months ended June 30, 2001. This change has no impact on the balance sheet or net loss from operations.
About CARESIDE
CARESIDE, Inc. markets a proprietary blood testing system including its CARESIDE Analyzer, a companion hematology system called the H-2000 Hematology Analyzer, and its CARESIDE Connect record management system linking the two devices into customers' laboratory or patient information systems. The CARESIDE Analyzer provides a cost-effective and efficient means of measuring blood chemistry, electrochemistry, and coagulation function at the patient's point of care by producing accurate test results within 15 minutes.
Safe Harbor: Statements in this press release regarding CARESIDE Inc. which are not historical facts are forward-looking statements that involve risks and uncertainties. Key factors which may impact these statements include product acceptance, market forces and other challenges inherent in sales, marketing and manufacturing, and the other factors discussed in the Company's prospectus that was effective dated October 2000. The Company undertakes no obligation to update forward-looking statements. Please see the risk factors listed from time to time in the Company's prospectus and reports on file with the SEC.