NexgenRx Inc.
TSX VENTURE : NXG

NexgenRx Inc.

April 25, 2013 15:21 ET

NexgenRx Announces Its 2013 First Quarter Results

TORONTO, ONTARIO--(Marketwired - April 25, 2013) - NEXGENRX INC. ("NexgenRx" or the "Corporation") (TSX VENTURE:NXG) is pleased to report financial results for its first quarter, ended March 31, 2013.

Revenue from transaction fees for the quarter ended March 31, 2013 was $1,268,643 representing an increase of 15.4% over the prior year period. The gross profit for the period was $1,065,007, an increase of 26.6% compared to the same quarter in 2012.

"The 2013 first quarter results reflect an increase in new client revenue and balance sheet improvement. We achieved positive net income of $262,375 representing an increase of over $200,000 in comparison to the same period in 2012. In addition, our available cash on hand of $520,666 represents an increase of over $500,000 in comparison to the same quarter in 2012. This additional cash will enable us to deploy the resources needed to accelerate our new sales strategy and continue our growth." stated Ron Loucks, President and CEO.

About NexgenRx

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 Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release."

Contact Information

  • NexgenRx Inc.
    Ronald C. Loucks
    President and CEO
    416.695.3393 x801

    NexgenRx Inc.
    Taba Merrikh
    Director of Finance
    416-695-3393x803
    www.nexgenrx.com