MEDX Health Corp.

MEDX Health Corp.

November 29, 2006 11:08 ET

MedX Health Corp Announces Operating Results For The Three Months Ended September 30, 2006

MISSISSAUGA, ONTARIO--(CCNMatthews - Nov. 29, 2006) - MedX Health Corp., a leader in the development, manufacture and distribution of innovative phototherapy devices, announces its results for the three and nine months ended September 30, 2006.

Revenue for the three months ended September 30, 2006 was $508,115 compared to $511,173 for the three months ended September 30, 2005, a decrease of 1% versus the same period last year. The sales decrease was attributable to a weak US dollar as the company does the majority of its business in the US market. Gross margins declined slightly for the same reason to 75% versus the prior quarter's 78%.

MedX incurred a net loss of $555,754 in Q3 2006 compared to a net loss of $486,774 for the same period of the prior year. This was primarily due to the lower gross margins and higher interest costs on the expense side.

Sept YTD Sept YTD
Canadian $ Q3 2006 Q3 2005 2006 2005
Revenue 508,115 511,173 2,027,370 2,052,538
Gross Margin % 75% 81% 76% 81%
Income (Loss) from continued
operations (554,172) (486,041) (857,831) (849,916)
Income (Loss) from discontinued
operations (1,582) (733) (4,133) (13,853)
Net Income (Loss) for period (555,754) (486,774) (861,963) (863,769)
Weighted Average no. of
shares outstanding-
basic and diluted 15,043,937 15,018,005 15,043,937 14,498,559
Loss per Common Share-basic
and diluted ($0.04) ($0.03) ($0.06) ($0.06)

"Sales in the quarter were disappointing and as expected, were lower than last quarter due to the seasonality of our business, and also due to the weakness of the US dollar." said Phil Passy, President & CEO of MedX Health. "However, we believe Q3 sales are timing related and we are expecting increases in sales activity over the next several quarters."

Significant achievements during the quarter were as follows:

- Sales in the Canadian market increased by 75% over the same period last year.

- Continued development of new light therapy products and intellectual property associated thereto.

- Continued development of the Company's program for entry into the long term care (skilled nursing facility) and dental markets.

About the Company - MedX, the phototherapy experts, are leaders in the development, manufacture and distribution of innovative phototherapy medical devices. MedX products offer effective treatment through a powerful and proven modality - giving patients a rapid, drug free and non-invasive healing solution. MedX products are used by practitioners in clinics, academic facilities, and hospitals as well as by professional athletes and sports teams to improve quality of life through accelerating healing and reducing pain. MedX brand products are US FDA and Health Canada cleared and are produced in an ISO 9001:2000 and 13485:2003 certified manufacturing and testing facility. For a complete profile of MedX Health Corp. and its products visit

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