A consistent way of announcing time would be great, but many stopwatches show elapsed time as minutes and seconds. Although it'd seem almost a no-brainer to add the 60 seconds on (for times over a minute) and announce the time in seconds, it opens another door for error. I'd suggest that times announced as minutes and seconds be read as "one dash oh five" (for 1:05). I suggest "dash" only because it seems easier than saying "colon." Anything that creates a mental split between the numbers would work.