Net Medical Xpress Reports Record 2013 Revenue and Net Income
Growth With Strong Telemedicine Gains
Company Foresees Excellent 2014 Growth and Financial Results
ALBUQUERQUE, NM--(Marketwired - Mar 20, 2014) - Net Medical
Xpress Solutions, Inc. (OTCQB: NMXS) announced today 2013 revenue
of $4,828,000, a 23.2% gain over revenue of $3,905,000 in 2012. The
company also reported net income of $30,000, or $0.00 per share, a
600% improvement over net income of $5,000 or $0.00 per share in
2012. In addition, the company recorded important balance sheet
improvements including significant increases in cash and
equivalents from its growing ability to generate liquidity.
CEO Dick Govatski said, "2013 was the best year in the history
of our company with record net income and record revenue growth.
With the acquisition of MedTel Solutions, we added a new operating
segment that was immediately accretive and produced an excellent
contribution to our operations. New customers and services are
generating revenue and net income growth that is moving us forward
in an exciting manner.
"Net Medical Xpress Services, our largest operating segment,
recorded a revenue gain of $400,000 or 12% to $3.75 million from
$3.35 million in revenue a year ago and a healthy $478,000 in
operating income. We benefited from increases in image reads for
radiological and cardiological customers as well as the addition of
new customers. We believe this trend will continue in 2014,
although possibly at a slower growth rate.
"Our largest revenue gainer was our Specialist segment, which
recorded a gain of 240% to $428,000, up from $126,000 in 2012. This
segment, which began operations in 2012, expanded during the year
with the addition of new customers for neurological services every
quarter as well as expansions into new services. We anticipate
significant increases in revenue from this division in 2014 and
believe these operations will be a major engine in our future
growth.
"Our Solutions segment recorded $461,000, an 8% gain over
revenue of $426,000 in 2012. We expect moderate growth in this
segment during 2014. The new Staffing segment produced $186,000 in
revenue following the July 1, 2013 acquisition and we are pleased
with the way it is headed especially with new revenue models we are
developing.
"Our proven ability to provide highly specialized care for
critically ill patients from a distance is exciting for us and for
our growing list of customers. Hospital administrators are
struggling to control costs and dealing with new rules from
Washington, while seeking ways to maintain or improve the quality
of care. We have continued to upgrade our own quality systems based
on the Federal Drug Administration's Title 21 of the Code of
Federal Regulations.
"This has put us on the radar screens of some large institutions
who are seeking new methods to improve their businesses. We are in
discussion with a number of companies, large and small, who have
expressed serious interest in using our technology to help them
manage their hospitals and medical practices with sophisticated
telemedicine programs involving cardiology, neurology and even
psychiatry. From remote patient examinations to critical care
specialist programs and related telemedicine services, we
anticipate demand in these areas will drive our future growth. This
is an important innovation for remote hospitals that can now offer
top-level care in areas they previously could not afford.
"Our gross profit was a key indicator of our 2013 success
reaching 24.1% with some segments over 40%. We have every reason to
believe 2014 will be another valuable growth year for our company
and our shareholders. Results for the first quarter of 2014 will be
reported in mid-April. Early indications point to an excellent
quarter," Govatski said.
Net Medical's telemedicine programs include remote examinations
for diagnostic radiology and cardiology as well as clinical
examinations in the specialties of neurology, psychology and
cardiology. In 2013, Net Medical added specialists in critical
care, ICU, orthopedics, nephrology and hospital based telemedicine
services for nursing homes and rehab hospitals.
About Net Medical Xpress Solutions, Inc: Net Medical Xpress is a
multi-faceted, FDA-regulated company with six
operating segments, over 400 physicians under contract, 400,000
cases completed in 2013 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 outpatient medical facilities. The
company's proprietary, web-based XR-Express 510K FDA-cleared 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 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 Frank Hawkins Hawk Associates 305-451-1888 or Dick
Govatski 505-255-1999
ceo@nmxs.com
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