CompuMed, Inc. Announces Fiscal 2022 Third Quarter Results
CompuMed, Inc. (OTC PINK:CMPD) reports its fiscal 2022 third-quarter results. Revenue rose 2.1% from the previous quarter but fell 7.4% year-over-year, having faced tough comparisons from record earnings last year. Operating income reached $136,000, a 155% increase from the previous quarter, yet down 46% from a year earlier. Cash and accounts receivable remained stable at $2,628,000. The company indicated ongoing investments in marketing may drive future sales growth.
- Operating income increased by 155% quarter-over-quarter.
- Stable cash and accounts receivable at $2,628,000.
- Year-over-year revenue declined by 7.4%.
- Operating income down 46% compared to the same quarter last year.
LOS ANGELES, CA / ACCESSWIRE / August 12, 2022 / CompuMed, Inc. (OTC PINK:CMPD) ("CompuMed" or the "Company") is pleased to announce fiscal 2022 3rd quarter results:
FISCAL 2022 THIRD QUARTER HIGHLIGHTS:
- Revenue in our third fiscal quarter rose
2.1% compared to the second quarter but declined7.4% year-over year. We would remind investors that our year ago quarter was our highest revenue quarter ever, so it was a tough comparable this quarter. Recently we have been investing more resources and time in marketing activities and believe that our sales growth will pick up again in future quarters. - Operating income of
$136,000 in the quarter was155% higher than the previous quarter, but46% lower than the quarter a year ago. Our operating margins continue to be volatile around IT related expenses, some of which are still expensed, as well as additions to the CompuMed team. - Cash and A/R was essentially flat in the quarter at
$2,628,000. During the quarter CompuMed re-purchased 2,278 shares.
About CompuMed, Inc.
CompuMed, Inc. (OTC PINK:CMPD) Diagnostic Telemedicine services provide patients with the highest level of clinical care at reduced costs. Its telecardiology and teleradiology offerings provide real-time access to U.S. Board-Certified specialists through cloud-based technology and integrated medical devices to medical facilities anywhere in the world. The company has been in business over 26 years and services over 1,000 clinical settings. CompuMed is headquartered in Los Angeles, CA. Visit CompuMed at www.compumedinc.com.
Forward-Looking Statements
This press release contains forward-looking statements regarding future events and the future performance of CompuMed, Inc. that involve risks and uncertainties that could materially affect actual results, including statements regarding the Company's unaudited financial results. Factors that could cause actual results to vary from current expectations and forward-looking statements contained in this press release include, but are not limited to: (1) the global impact of the pandemic outbreak of coronavirus (COVID-19) and its impact on our operations and the operations of our suppliers and clients, staffing levels and labor costs; (2) the timing and volume of business activity from our clients, our ability to continue to provide those services, and our liquidity and cash position; (3) our ability to protect the Company's net operating losses and tax benefits; (4) volatility and changes in our stock price, corporate or other market conditions; (5) the loss of, or reduction of business from, substantial clients; (6) changes in government policy or economic conditions; (7) increased competition; and (8) other factors contained in the Company's filings posted on the OTC Markets website.
David W. Pointer
Chairman of the Board of CompuMed
(509) 226-0846
SOURCE: CompuMed, Inc.
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