SOURCE: Net Medical Xpress Solutions, Inc

Net Medical Xpress Solutions, Inc

May 14, 2015 10:11 ET

Net Medical Xpress First Quarter Revenue $1.24 Million; Net Income $71K With Strong Growth in Company's Specialist Segment

ALBUQUERQUE, NM--(Marketwired - May 14, 2015) -  Net Medical Xpress Solutions, Inc. (OTCQB: NMXS) announced today revenue for the first quarter of 2015 of $1,240,000 vs. revenue of $1,271,000 in the first quarter of 2014. The company reported net income of $71,000 or $0.00 per share versus a net loss of ($9,000) or $0.00 per share in the first quarter of last year.

CEO Dick Govatski said, "We are pleased with the rapid growth in our Specialists segment and our ability to generate net income in the quarter. Revenue in the segment grew over 200% with a strong increase in neurological services revenue with a net increase in volume of consults by existing customers. We are adding several new customers, which should further drive revenues in 2015. Primary Care Consultations, which reported $49,000 in revenue, was launched in the third quarter last year (2014). We believe revenues for this service will increase significantly during 2015 as we continue to add new customers.

"We experienced revenue slippage in our largest revenue segment, Net Medical Xpress Services. The teleradiology market is increasingly competitive with customers using more than one teleradiology service to meet their needs at the lowest cost. Nevertheless, we intend to expand our customer base in order to sustain our revenues. Cardiological services revenue also dropped. Both the teleradiology and the cardiological market are highly competitive with new service providers entering the market. Growing competition has increased downward pressure on prices and created a trend for customers to use multiple services to meet their needs.

"The quarter reflected $90,000 in revenue from our portion of a federal grant together with the University of New Mexico to establish a statewide 30-hospital telemedicine network to support critical cerebral emergency support services. Each participating hospital requires our hardware and operational expertise to participate. We also benefited from a decrease in our operating costs reflecting economies of scale in our Specialists segment as a result of growth in that area. Our balance sheet showed cash and equivalents of $409,000 and a working capital surplus of $161,000 as of March 31, 2015," Govatski said.

About Net Medical Xpress Solutions, Inc:
Net Medical Xpress is a multi-faceted company with four operating segments, approximately 436 physicians under contract, 389,000 cases completed in 2014 and offices in three cities in the U.S. 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 XR-Express 510K PACS is Net Medical Xpress foundation software, which 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.

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
    Dick Govatski
    President and CEO
    505-255-1999
    ceo@nmxs.com