Net Medical Xpress Q3 Revenue Up 34% With Ongoing Launch Of New Telemedicine Services
ALBUQUERQUE, N.M., Nov. 15, 2012 /PRNewswire/ -- New Mexico Software, Inc. , d/b/a Net Medical Xpress (OTC Bulletin Board NMXC), a medical services company providing advanced telemedicine solutions for hospitals, announced today the financial results for the third fiscal quarter that ended September 30, 2012.
Gross revenues rose 34% to $964,000 from $719,000 in the third quarter of 2011. Net loss narrowed to ($19,000) or ( $0.00 per share) from a net loss of ( $71,000 or $0.00 per share) a year earlier. Revenue from Radiological Services, the company's largest operating segment, rose 32% to $801,000 from $608,000 a year earlier. Total operating costs for the quarter were up 14.5% to $705,000.
For the first nine months of 2012, gross revenues were $2,847,000 a gain of 17.9% over the first nine months of 2011. Net loss for the first nine months was ($54,000) compared with a net loss of ($165,000) in the first nine months of 2011.
Net Medical CEO Dick Govatski said, "Our growing range of telemedicine services is making notable progress. The gain in our Radiological Services reflected increased usage by existing customers who continue to demonstrate a strong degree of satisfaction with our services. The increase in software usage fees reflected a combination of increased volume usage by existing customers as well as the addition of new customers."We were very pleased with the progress in our Specialist Program Services and our Specialist Program Hardware sales. Our Specialist program began operations during the first quarter of 2012 with a neurology/stroke assessment program at a regional hospital in New Mexico. We currently anticipate regular additions of new customers throughout 2013. We had a particularly strong October and we are hopeful this will result in a strong fourth quarter of 2012. "Most new customers in the Specialist program will purchase videoconferencing hardware necessary for remote diagnosis. We anticipate revenue in this segment to increase through 2013 as we add new customers."
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