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Memry Corp. announces record FY 2002 results

Published in Medical Devices and Surgical Technology Week, October 20th, 2002

Memry Corp. (MRY) announced that for FY 2002 ending June 30, 2002, total revenue rose 10% to $32,895,000 from $29,913,000 in FY 2001.

Net income was $3,783,000 or $0.15 per diluted share compared with a net loss of $4,689,000 or $0.21 per diluted share in FY 2001.

For the fourth fiscal quarter of 2002 revenue was a record $9,179,000, a gain of 12.6% over revenue of $8,148,000 in the same quarter last year. The company reported quarterly net income of $1,042,000 or diluted earnings per share of $0.04, versus quarterly net income of $1,164,000 or diluted earnings per share of $0.05 for the comparable year ago quarter.

James Binch,...

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