November 16, 2012 18:11 ET
TORONTO, ONTARIO--(Marketwire - Nov. 16, 2012) - NEXGENRX INC. ("NexgenRx" or the "Corporation") (TSX VENTURE:NXG) is pleased to report financial results for its third quarter, ended September 30, 2012.
Revenue for the quarter increased by 10.2% compared to the same period last year, resulting in an 11.5% increase in gross profit. Other expenses of $822,934 were lower by 7% due to savings from the IT infrastructure project implemented in June of last year in addition to improved debt and equity management.
"I am pleased to present the Q3 results which conti nue to demonstrate steady revenue growth and improvements in expense management. The company recorded positive net quarterly income of $150,952 compared with a loss of $161,947 for the same period last year." stated Ron Loucks, President and CEO.
NexgenRx is a growing health benefits management company engaged in the design, management and administration of health benefit plans offered by employers and other plan sponsors for the benefit of their employees and plan members. More information on NexgenRx can be found at www.nexgenrx.com.
Caution Regarding Forward-Looking Statements - This news release contains certain forward looking statements, including statements regarding the business and anticipated financial performance of the Corporation. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements.
"Neither TSX Venture Exchange nor its Regulation Services Pro vider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release."
NexgenRx Inc.Ronald C. LoucksPresident and CEO416.695.3393 x801NexgenRx Inc.Taba MerrikhDirector of Finance416-695-3393x803
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