Net Medical Confirms Strong First Half 2022: Expects Strong Second Half
Net Medical (OTC PINK:NMXS) reported strong financial results for Q2 and the first half of 2022. Q2 revenue surged to $1,563,000, up from $315,000 in the same quarter last year. Net income also improved, reaching $402,000 compared to a net loss of ($139,000) in Q2 2021. For H1 2022, revenue totaled $3,470,000 with a net income of $1,146,000, marking a significant turnaround from a loss of ($168,000) in H1 2021. The company anticipates continued strong performance driven by COVID testing and the development of its Immunity Science subsidiary.
- Q2 2022 revenue increased to $1,563,000 from $315,000 in Q2 2021.
- Net income in Q2 2022 was $402,000, compared to a net loss of ($139,000) in Q2 2021.
- H1 2022 revenue totaled $3,470,000, up from $605,000 in H1 2021.
- Net income for H1 2022 was $1,146,000, compared to a loss of ($168,000) in H1 2021.
- Strong performance expected in the second half of 2022 due to robust COVID testing and FDA clinical trial results.
- None.
ALBUQUERQUE, NM / ACCESSWIRE / August 15, 2022 / Net Medical (OTC PINK:NMXS) confirmed today strong financial results for the second quarter and first half of 2022 as previously reported. The company said it expects an equally strong second half of 2022.
For the second quarter of 2022, the company reported total revenue of
For the first six months of 2022, the company reported revenue of
Net Medical CEO Dick Govatski said, "For the first six months of 2022 our COVID testing business was robust and it continues to be strong so far in the third quarter as we are expanding locations where we are doing daily testing. We continue to add to our mobile fleet of medical laboratory vans.
"Our FDA clinical trial businesses also produced good first half results and we have every indication that this part of our business will also be strong in the second half of the year.
"In the meantime, we are close to launching our previously announced Immunity Science subsidiary with a new category of edible vitamin supplements.
"In addition, we expect to see a slow but steady roll out of the previously announced BIOFIRE® Joint Infection (JI) panel to reach orthopedic surgeons throughout the country. Early indications from physicians and surgeons who have been contacted are very positive about this exclusive new test for septic arthritis and infections in the joints. As I have said before, this could possibly become a significant business segment for Net Medical.
"We are currently considering purchasing new locations in Taos and Albuquerque for the purpose of setting up permanent lab locations for testing and other laboratory services. I expect to have more to say about this in the second half," Govatski said.
For more information, call 505-255-1999 X 320. Visit www.netmedical.com. Email ir@netmedical.com
About Net Medical - publicly traded (OTC Pink:NMXS) since 1999.
Net Medical has two operating units. Net Medical Labs is a moderate complex CLIA certified lab that specializes in virus testing and diagnostics. The company's mobile fleet of vans provide COVID and flu testing in New Mexico for schools, companies, homeless shelters and nursing homes. The company provides a unique Test-To-Treat program for home and office care that is particularly valuable in rural communities. The lab also serves as a reference lab for physician offices and other facilities that lack services for complex virus diagnostics. Net Medical Xpress provides telemedicine solutions for hospitals, nursing homes, specialty hospitals and other medical facilities. The company maintains a 24/7/365 call center, software developers and its proprietary Telemed telemedicine platform. No other telemedicine company offers the same extensive and integrated menu of telemedicine services as Net Medical.
Forward-Looking Statements. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are the company's current expectations about future events and can be identified by terms such as "plans," "expect," "may," "anticipate," "intend," "should be," "will be," "is likely to," "believes," and similar expressions referring to future periods. The company believes any expectations reflected in the forward-looking statements are reasonable but cannot guarantee future results, level of activity, performance or achievements. Actual results may differ materially from those expressed or implied in the forward-looking statements.
SOURCE: Net Medical Xpress Solutions, Inc.
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