Net Medical Xpress Announces Q1 Revenue of $1.27 Million; Net Loss of $9K Attributable to Increased Compliance Costs
May 16 2014 - 7:45AM
Marketwired
Net Medical Xpress Announces Q1 Revenue of $1.27 Million; Net Loss
of $9K Attributable to Increased Compliance Costs
ALBUQUERQUE, NM--(Marketwired - May 16, 2014) - Net Medical
Xpress Solutions, Inc. (OTCQB: NMXS) announced today revenue of
$1,271,000 vs. revenue of $1,221,000 in the first quarter of 2013.
The Company reported a net loss of $9,000 or $0.00 per share versus
net income of $53,000 a year earlier.
CEO Dick Govatski said, "Our year is off to a slower start than
we originally anticipated as a result of compliance costs related
to upgrading our own quality systems based on the Federal Drug
Administration's Title 21, the Code of Federal Regulations.
Fortunately much of this effort is behind us and we are hopeful
costs associated with this effort will recede in the coming
quarters.
"Net Medical Xpress Services, our largest operating segment,
recorded a small revenue gain to $981,000 and operating income of
$130,000. We experienced a net gain in image reads for
cardiological services and a small decrease in reads for
radiological customers.
"Specialist segment revenues were up on an increased volume of
neurological customers offset by a decrease in hardware sales in
this segment. Although we were disappointed in this result, we
anticipate increases in revenue from this division during the
year.
"Our Solutions segment revenues were down slightly but we expect
results through the end of the year to be essentially flat against
2013 results. Our Staffing segment, acquired in the third quarter
of 2013, produced revenue of $67,000 for the quarter versus no
revenue a year ago."
About Net Medical Xpress Solutions, Inc: Net Medical Xpress is a
multi-faceted, FDA-regulated company with four operating segments,
over 400 physicians under contract, 400,000 cases completed in 2013
and offices in three cities in the U.S. The company provides
telemedicine programs for diagnostic and clinical medical services
to mobile companies, urgent cares, hospitals, trauma centers,
imaging centers, jails, nursing homes, corporate health departments
and outpatient medical facilities. The company's proprietary,
web-based XR-Express 510K FDA-cleared PACS is Net Medical Xpress
foundation software, which enables medical providers to make
real-time assessments of patients' conditions and treatment
needs.
An investment profile for Net Medical Xpress is at
http://www.hawkassociates.com/profile/nmxs.cfm. To receive future
releases in e-mail alerts, sign up at
http://www.hawkassociates.com/about/alert.
This press release may contain forward-looking information
within the meaning of Section 21E of the Securities Exchange Act of
1934, as amended (the Exchange Act), including all statements that
are not statements of historical fact regarding the intent, belief
or current expectations of the company, its directors or its
officers with respect to, among other things: (i) the company's
financing plans; (ii) trends affecting the company's financial
condition or results of operations; (iii) the company's growth
strategy and operating strategy; and (iv) the declaration and
payment of dividends. The words "may," "would," "will," "expect,"
"estimate," "anticipate," "believe," "intend" and similar
expressions and variations thereof are intended to identify
forward-looking statements. Investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, many of which are beyond the
company's ability to control, and that actual results may differ
materially from those projected in the forward-looking statements
as a result of various factors including the risk disclosed in the
company's Forms 10-K and 10-Q filed with the SEC.
For more information www.netmedical.com or www.nmxs.com or
contact Dick Govatski President and CEO 505-255-1999
ceo@nmxs.com For investor-related questions contact Frank Hawkins
Hawk Associates 305-451-1888 Dick
Govatski 505-255-1999
ceo@nmxs.com
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