ALBUQUERQUE, N.M., Aug. 15, 2012 /PRNewswire/ -- New Mexico Software, Inc., d/b/a Net Medical Xpress (OTC Bulletin Board NMXC) announced today the company's financial results for the second quarter and the first six months of 2012.
New Mexico Software is a medical services company that provides clinical and diagnostic programs using advanced telemedicine solutions for rural hospitals. The company also develops FDA 510(k) cleared, all-inclusive PACS products for the medical market.
The company reported $961,000 in net sales for the second quarter ended June 30, 2012, a gain of 26.8% over the same period a year earlier. For the quarter, the company reported a net loss of ($12,000) versus a net loss of ($104,000) in the second quarter of 2011.
For the first six months of 2012, the company reported revenue of $1,883,000, a gain of 11.1% over revenue of $1,694,000 in the comparable period a year earlier. For the first six months, the company reported a net loss of ($35,000) versus a net loss in the first six months of 2011 of ($94,000).
Additional details can be found in the company's 10-K filing with the Securities and Exchange Commission.
CEO Dick Govatski said, "The overall numbers don't yet reflect it, but we have entered the most exciting time in the history of our company. In the first half we are recording rapid growth in our Specialist Program and in sales of Specialist Program hardware. Our Specialist Program began operations during the first quarter with a neurology/stroke assessment program at Alta Vista Hospital in New Mexico. It has been a tremendous success for the hospital and for the patients. Since the primary target market for this service is small rural hospitals, we expect that the main growth in this segment will come from regular addition of new customers as opposed to large customers with high volumes of transactions.
"In addition, customers in the Specialist Program are purchasing our videoconferencing hardware necessary for remote diagnosis. Our pipeline of new business is growing quickly and as a result we expect revenues in this category to increase during the remainder of 2012 and on into 2013 as we continue to add new customers. We also continued to see healthy increases in radiology services due to increased volume usage by existing customers. This category continues to be our largest revenue center. We also saw increases in software usage fees due to increased usage by existing customers.
"Looking forward, we are energized by the enthusiastic acceptance of our new services by hospital administrators who are excited by their new ability to enhance the breadth of their services and to increase and improve the quality of care, patient outcomes and family satisfaction.
"While it is premature to provide exact financial forecasts, we are comfortable in saying that if current trends continue, this will be the most financially successful year in our history and 2013 will be even better," Govatski said.
About Net Medical Xpress Solutions, a trade name of New Mexico Software, Inc.
(OTC Bulletin Board NMXC), a medical services company that provides clinical and diagnostic programs using advanced telemedicine solutions for rural hospitals. The company also develops FDA 510(k) cleared all-inclusive PACS products for the medical market. For more information, visit www.nmxc.net or www.nmxs.com or contact Dick Govatski, president and CEO, at 505-255-1999 or [email protected].
An investment profile on Net Medical Xpress may be found at http://www.hawkassociates.com/profile/nmxc.cfm. To receive future releases in e-mail alerts, sign up at http://www.hawkassociates.com/about/alert.
For more investor-related questions contact Frank Hawkins, Hawk Associates, at 305-451-1888 or [email protected].
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: trends affecting the company's financial condition or results of operations; the company's growth and operating strategies. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions 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 risks disclosed in the company's Forms 10-K and 10-Q filed with the SEC.
SOURCE New Mexico Software, Inc.