Last updated on April 21, 2014 at 9:29 EDT

Net Medical Xpress Reports Positive 2012 Net Income on 22% Revenue Increase Driven By Rapid Telemedicine Customer Growth and Usage

March 25, 2013

Company Forecasts Strong 2013 Growth and Financial Results

ALBUQUERQUE, N.M., March 25. 2013 /PRNewswire/ — Net Medical Xpress Solutions, Inc. (OTCQB: NMXS) announced today 2012 revenue of $3,905,000, a 21.8% gain over revenue of $3,207,000 in fiscal year 2011. The company also reported net income of $5,000, or $0.00 per share versus a net loss in 2011 of ($224,000) or $0.00 per share.

CEO Dick Govatski said, “We are delighted to be able to report positive net income in our most financially successful year ever. Telemedicine is the rising star of the health care industry and we find ourselves on a wave that we believe will carry us quite far.

“Our services ranging from remote patient examinations to critical care specialist programs and related telemedicine services are in increasingly high demand as a result of our growing capability to provide outstanding technology and programs to a marketplace anxiously looking to improve patient care while lowering costs. This has not gone unrecognized by the medical community and consequently our order books are filling up almost daily.

“Our gross profit was a key indicator of our 2012 success reaching 23.6% with some segments over 40%. We believe we will be able to improve this number in 2013.

“Bottom line — we are in the right place at the right time. Our programs have expanded from teleradiology to more sophisticated telemedicine programs involving cardiology, neurology and even psychiatry. Remote hospitals benefit from being able to offer top-level care in disciplines they previously could not afford to provide. But now even larger hospital groups are becoming aware of the improvements and savings we can provide them.

“We expect 2013 is going to be an outstanding year for our company and our shareholders as we foresee ongoing growth in both customers and usage of our systems and programs. Results for the first quarter of 2013 will be reported in mid-April. Current information suggests we will report a very successful 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 expects to add specialists in critical care, ICU, orthopedics, nephrology, urology and hospital based telemedicine services for nursing homes and rehab hospitals.

About Net Medical Xpress Solutions, Inc:
Net Medical Xpress’ Telemedicine programs provide 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 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 more 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.

SOURCE Net Medical Xpress Solutions, Inc.

Source: PR Newswire