Other News - Feb. 20, 1992
From Times Staff and Wire Reports
SysteMed Profits: SysteMed. Inc. of Laguna Hills on Wednesday announced 1991 profits of $1.4 million, or 10 cents per share, contrasted with a 1990 net loss of $5.4 million, or 24 cents per share. Revenue for 1991 was $86.6 million, up from $60.4 million in 1990. For the fourth quarter, ended Dec. 31, the company earned $453,000, or 3 cents per share, contrasted with a net loss of $2.8 million, or 24 cents a share, for the last quarter of 1990. Revenue for the fourth quarter was $23.4 million, up from $16.8 million the previous year. SysteMed, formerly Newport Pharmaceuticals International Inc., provides prescription drug service by mail to medical insurance companies, HMOs and employers.
