ALBUQUERQUE, N.M., May 15, 2013 /PRNewswire/ -- Net Medical
Xpress Solutions, Inc., (OTCQB: NMXS), an emerging leader in
the rapidly growing telemedicine software and services industry,
announced today first quarter 2013 revenue was $1,221,000, a 32% gain over $923,000 reported in the first quarter of 2012.
Net income was $53,000 versus a loss
of $23,000 in the same quarter last
year.
Net Medical Xpress CEO Dick Govatski said, "Although we are
still a small company, we are moving rapidly and profitably into
the very large telemedicine universe with outstanding upside
prospects. Our business model and our own open source technology
give us major commercial advantages and, as a result, we expect
continuing strong growth as we build a valuable telemedicine
company that will operate on a national and possibly international
basis."
Company Results
Strong gains were reported in the company's largest division,
Net Medical Xpress Services, which provides medical diagnostic
radiology and cardiology reading services. The division recorded
approximately 81% of the company's revenue, or $979,000, with a gross margin of 22.2%, or
$217,000, up from 20.5% a year
earlier. Cardiology reading services gained 125% to $27,000.
Revenue from the Net Medical Xpress Specialists program rose
611% to $64,000. This division
provides telemedicine services to hospitals and other medical
service providers and employs credentialed specialists the fields
of neurology, cardiology, psychiatry, critical care, pulmonology
and intensivists . The program facilitates accurate and rapid
real-time stroke and related patient assessments through a video
conferencing examination supported by the company's proprietary
software. The division generated a gross margin of 10.6% in the
quarter versus 22.2% a year earlier when the program began,
reflecting investments made in this new business segment.
Approximately 30% of the unit's expenses consist of relatively
fixed costs. It is anticipated these costs will remain stable as
revenues grow going forward and that gross margins will
improve.
Net Medical Xpress Solutions, which derives revenue from the
development and marketing of proprietary Internet technology-based
software, primarily in the medical services field, was up 31.6% to
$129,000 with a 58.9% gross margin
percentage. This segment is expected to remain relatively constant
in 2013 as the company's focus shifts more intensely to
telemedicine activities.
Further Comments by CEO Dick
Govatski
CEO Govatski said, "We strongly believe we have a disruptive
business model that will enable hospitals and others in the medical
field to operate more efficiently in today's rapidly changing
health care environment. More than ever, cost control is a key
issue for hospitals and other providers. Our technology and
methodology are already proving to be invaluable in helping to hold
down costs while actually improving patient care.
"Every indication is that 2013 is going to be a very strong year
for us. Interest in our services is high and widespread. We are in
serious discussions with a variety of health care providers who see
our services as an important part of the solution for their cost
and care problems. We look forward to reporting more information
about this as events unfold," Govatski said.
The company will hold a conference call with CEO
Dick Govatski to discuss financial
results, business highlights and outlook on Thursday, May 16 at 11:00
a.m. Eastern time. In addition, the company will answer
questions concerning business and financial developments and
trends, and other business and financial matters affecting the
company, some of the responses to which may contain information
that has not been previously announced.
To participate in the call, dial 1-877-941-2068 any time
after 10:50 a.m. Eastern on
Thursday, May 16th. International and
local callers should dial 1-480-629-9712. Participants
should ask for the Net Medical Xpress First Quarter 2013 Financial
Results Conference Call/Conference ID 4618960. A live and archived
webcast of the call will be available at
http://www.hawkassociates.com/profile/nmxs.cfm or
http://public.viavid.com/index.php?id=104717. This call will be
archived for approximately 90 days.
About Net Medical Xpress
Net Medical Express is a medical services company that provides
clinical and diagnostic programs using advanced telemedicine
solutions for hospitals. The company also develops FDA 510k-cleared
and all-inclusive PACS products within the preventative,
comprehensive, and critical healthcare segments. For more
information, visit www.netmedical.com or www.nmxs.com or contact
Dick Govatski, president and CEO, at 505-255-1999 or
ceo@nmxs.com.
An investment profile on New Mexico Software 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 Dick Govatski at 505-255-1999 (ceo@nmxs.com).
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.
SOURCE Net Medical Xpress Solutions, Inc.