SOURCE: Net Medical Xpress

Net Medical Xpress

August 17, 2015 09:00 ET

Net Medical Xpress Announces Q2 Profitability, Positive Cash Flow and Strengthened Balance Sheet on Growing Telemedicine Services

ALBUQUERQUE, NM--(Marketwired - Aug 17, 2015) -  Net Medical Xpress Solutions, Inc. (OTCQB: NMXS) announced today revenue for the second quarter of 2015 of $1,128,000 vs. revenue of $1,174,000 in the second quarter of 2014. The company reported net income of $29,000 or $0.00 per share versus a net loss of ($67,000) or $0.00 per share in the second quarter of last year.

For the first six months of 2015, Net Medical reported revenue of $2,368,000 vs. revenue of $2,445,000 in the first half of 2014. The company reported net income of $100,000 or $0.00 per share versus a net loss of ($76,000) or $0.00 per share in the first half of last year.

CEO Dick Govatski said, "The results of the second quarter and the first half of 2015 reflect substantial progress of our telemedicine programs and the increasing financial health of our company. This was underscored by the 161% revenue gain in our Specialists segment with strong performances in neurological services, primary care and hospital hardware sales. We are concentrating our efforts to grow this division to offset a temporary slowdown in our radiology and cardiological services where we face increasing competition resulting in pricing pressure.

"Our debt-free balance sheet showed healthy gains in assets and decreases in liabilities. For the first six months we generated $122,000 in cash from operating activities.

"Although our positive revenue performance was not uniform across all segments, our telemedicine programs are attracting increasing attention from a variety of potential partners. During the quarter we announced a new partnership with BioVentive to market telemedicine services to the healthcare industry throughout the United States. Over 100 sales representatives will market telemedicine products and services from BioVentive based on Net Medical technology and exclusive products and services from Net Medical including our Specialist Services as well as new BioVentive products based on Net Medical technology.

"We also signed an agreement with telehealth consultant group T4 to provide telemedicine services for up to 18 hospitals in Iraq, Saudi Arabia, Kuwait, Quatar, United Arab Emirates, and Kuwait and we introduced a new stroke program for rural hospitals in the U.S. We are currently installing our first integration between Net Medical's X-REX telemedicine management program the CEREBROS™ stroke management program from Corazon at an Arizona hospital.

"A number of other ventures are in active discussion and we expect to have more news about these in the near future.

"Collectively these new programs have positioned us as an emerging world leader in telemedicine services. We have good reason to be optimistic about the second half of 2015 and 2016," Govatski said.

About Net Medical Xpress Solutions, Inc
Net Medical Xpress is a multi-faceted telemedicine company with four operating segments. The company has over 436 physicians under contract and offices in three cities in the U.S. Net Medical successfully completed 400,000 telemedicine cases in 2014 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 out patient medical facilities. The company's proprietary, web-based technology is the platform that enables medical providers to make real-time assessments of patients' conditions and treatment needs.

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.

Follow Net Medical on Twitter @netmedxpress

An investment profile for Net Medical Xpress is available online 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.

For 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.

Contact Information

  • Contact

    Frank Hawkins
    Hawk Associates
    305-451-1888

    Dick Govatski
    505-255-1999
    ceo@nmxs.com