SOURCE: Net Medical Xpress

Net Medical Xpress

November 13, 2015 09:00 ET

Net Medical XpressQ3 Profitability, Positive Cash Flow and Strengthened Balance Sheet on Growing Telemedicine Services

ALBUQUERQUE, NM--(Marketwired - Nov 13, 2015) - Net Medical Xpress Solutions, Inc. (OTCQB: NMXS) announced today revenue for the third quarter of 2015 of $1,010,000 vs. revenue of $1,091,000 in the third quarter of 2014. The company reported net income of $105,000 or $0.00 per share versus a net loss of ($109,000) or $0.00 per share in the third quarter of last year.

For the first nine months of 2015, Net Medical reported revenue of $3,379,000 vs. revenue of $3,536,000 in the first nine months of 2014. The company reported net income of $212,000 or $0.00 per share versus a net loss of ($173,000) or $0.00 per share in the first nine months of last year.

CEO Dick Govatski said, "Our ongoing transformation to profitability and financial health continued in the third quarter of 2015 with reported net income through the first nine months of $205,000. The quarter benefited from gains in our Specialist segment reflecting gains in neurological and primary care services as well as the CMS (Center for Medicare and Medicaid Services) grant with the University of New Mexico. We also had important gains in program hardware sales in our Specialists programs.

"Our revenue was lower than last year due to decreased revenue in our radiological services because of the loss of three customers in 2014 and 2015. The market has become increasingly competitive with corresponding impacts on pricing and margins. As a result, we are concentrating our efforts to grow our specialist division to offset the slowdown in our radiology and cardiological services where we face increasing competition resulting in pricing pressure.

"Our debt-free balance sheet reflects ongoing gains in assets and decreases in liabilities. For the first nine months we generated over $330,000 in cash from operating activities.

"We are excited about the future of telemedicine and our role in the industry. There are numerous opportunities to expand our telemedicine efforts and we are working on those initiatives now," 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
    or
    Dick Govatski
    505-255-1999
    ceo@nmxs.com