SOURCE: Medytox Solutions, Inc.

Medytox Solutions, Inc. Logo

April 07, 2014 12:05 ET

Medytox Solutions, Inc. Announces Results for the Year Ended December 31, 2013

WEST PALM BEACH, FL--(Marketwired - April 07, 2014) - Medytox Solutions, Inc. (OTCQB: MMMS) announced today its financial results for the year ended December 31, 2013 (the "2013 Year"). The Company reported revenues of approximately $52.5 million, which represented an increase of approximately $31.4 million, or 149%, from the approximately $21.1 million in revenues reported for the year ended December 31, 2012 (the "2012 Year"). For the 2013 Year, the Company reported income from operations of approximately $14.5 million, compared to income from operations of approximately $3.5 million for the 2012 Year.

"Our results for 2013 are a testament to the efforts of our employees and the service we provide to our customers. In particular, the increase in revenues was a direct result of increased marketing efforts for PB Laboratories and Biohealth and a full year of results for Biohealth in 2013," stated William Forhan, the Company's Chief Executive Officer.

The Company is a holding company that owns and operates businesses in the medical services sector.

   
   
MEDYTOX SOLUTIONS, INC.  
Condensed Consolidated Statements of Operations  
   
    For the Year Ended  
    December 31,  
   2013   2012  
Revenues  $52,523,660   $21,076,357  
            
            
   Total operating expenses   38,023,670    17,545,404  
            
Income from operations   14,499,990    3,530,953  
            
   Total other income (expense)   (671,473 )  (302,598 )
            
Income before income taxes   13,828,517    3,228,355  
            
Provision for income taxes   5,568,600    481,400  
            
            
Net income from continuing operations   8,259,917    2,746,955  
            
   Net income (loss) from disputed activity   __    (397,918 )
            
Net income attributable to Medytox Solutions   8,259,917    2,349,037  
   Preferred stock dividends   2,601,298    50,000  
            
Net income attributable to Medytox Solutions common shareholders  $5,658,619   $2,299,037  
            
Net income per common share -                
  Basic and diluted  $0.19   $0.07  
            
Weighted average number of common shares outstanding during the period -                
  Basic and diluted   29,654,703    30,795,073  
                 
            

"Forward-looking" Statements
This press release may contain "forward-looking" statements, as defined in the Private Securities Litigation Reform Act of 1995, as amended. Any such statements are made pursuant to the safe-harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, and they involve a number of risks and uncertainties that could cause actual results to differ materially from those that may be anticipated by or from the forward-looking statements. Important factors that could cause such a difference are set forth in the Company's filings with the Securities and Exchange Commission and include, but are not limited to, the ability to consummate acquisitions and the ability to integrate such acquisitions.

Contact Information