Science & Technology
Science and Technology
Science and Technology
Thu, January 29, 2009 New Mexico Software Reports Rapidly Ramping Sales for 2008; Strong Outlook for 2009
ALBUQUERQUE, N.M.--([ BUSINESS WIRE ])--New Mexico Software, Inc. (OTCBB:NMXC) announced today that preliminary financial results show annual revenue in 2008 grew 62% to $1.6 million compared to $988,000 in 2007. Revenue for the fourth quarter of 2008 was up 174% to $679,000 from $248,000 in the fourth quarter of 2007. The company expects a decrease in its 2008 operating loss by approximately 32-35% as compared to 2007, and anticipates being cash flow positive for all of 2009. The company expects to issue the audited financial statements for 2008 on or about March 31, 2009.
New Mexico Software CEO Dick Govatski said, "Preliminary unaudited numbers show that 2008 was our strongest ever growth year. It appears we are on track to continue this trend into the first quarter of 2009 with revenue forecasted at or above $1,000,000. We anticipate overall revenue growth to continue throughout 2009 as compared to 2008."
"Our Telerad Service, which started operations as a wholly owned subsidiary of New Mexico Software in May 2008, continues to grow almost daily. We have created a dedicated and proprietary software package called Telerad Info, which streamlines operations for the customer and radiologist, information, credentialing, licensing, scheduling, routing and training involved in running a teleradiology business. Telerad Info interfaces with our existing technologies to help automate otherwise time consuming tasks, allowing us to minimize costs."
"Our other major operating unit, [ XR-Express ], also is moving forward as we enter the mid-size hospital market with our FDA-cleared PACS (Picture Archiving and Communication System) product. We have further upgraded our software to provide for ongoing updates to our Quality Reporting System. We have completed tests with a regional hospital chain to handle a large volume of cases for their facilities."
Govatski further added, "In a related development, since the beginning of 2009, four of our 25 radiologists have taken equity positions in New Mexico Software, which we believe is a strong indicator of the confidence that they have in the future of our company."
About New Mexico Software, Inc.
New Mexico Software, Inc. develops and provides medical IT services and solutions that enable improved and faster communication within the preventative, comprehensive and critical healthcare segments. New Mexico Software also provides software and hardware that streamlines administrative processes for a more efficient working environment. Telerad Service is a wholly owned subsidiary of New Mexico Software whose primary focus is to deliver interpretive radiological cases studies for medical facilities. For more information, visit [ http://www.nmxc.net ] or [ http://www.nmxs.com ], or contact Dick Govatski, president and CEO, at 505-255-1999 or [ ceo@nmxs.com ].
An investment profile on New Mexico Software may be found at [ http://www.hawkassociates.com/profile/nmxc.cfm ]. For an online investor relations kit, visit [ http://www.hawkassociates.com ] or [ http://www.americanmicrocaps.com ]. For more investor-related questions, contact Frank Hawkins or Susan Zhou, Hawk Associates, at 305-451-1888 or [ New.Mexico.Software@hawkassociates.com ]. To subscribe to future releases via e-mail alert, visit [ http://www.hawkassociates.com/about/alert/ ].
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.
