April 03, 2008
New Mexico Software Fiscal 2007 Revenue Increases
Sales Double for XR-EXpress Teleradiology Solution
ALBUQUERQUE, NM, April 3-- New Mexico Software, Inc. (OTC Bulletin Board: NMXC), www.nmxc.net, a leading services provider of next-generation business and medical information, announced today that revenues for fiscal year 2007 increased 8.2% to $988,000 from $913,000 for fiscal 2006. The company primarily attributes the increase in revenue to the success of its teleradiology solution, XR-EXpress, which generated a 103.6% increase in sales.
New Mexico also reported a significant reduction in net loss for fiscal 2007 as a result of the company’s cost-reduction strategies. Net loss for fiscal 2007 was reduced by 73%, to $739,000 from $2.7 million in fiscal 2006.
Fiscal year 2007 financial highlights include:
An increase of 8.2% in total revenue to $988,000 for fiscal 2007, as compared to $913,000 for fiscal 2006
A 15% increase in gross profits to $512,000 for 2007 as compared to $446,000 gross profit for 2006
Gross margin increase to 52% from 49% reported in 2006
A decrease of $1.9 million in operating costs and expenses due to optimally reduced consulting, legal, advertising expenses and personnel costs
Final payment of all notes payable and the outstanding IRS obligation<
New Mexico Software CEO, Dick Govatski, said, “For fiscal 2007, we have seen a continued increase of our customer base with no increase in liabilities and costs. Hand in hand with our increased marketing efforts, our vigorous approach to cost control has eliminated $1.9 million in operating costs compared to 2006. We have introduced a series of new products this year: Business EXpress workflow, Power Toys, XR-EXpress Dispatch module, DDS-EXpress, and Business EXpress Master Library, which have enabled us to generate revenues from newly acquired customers. We will continue to specialize in recurring revenue from repeat customers. Several new large volume customers are anticipated during the coming year which will continue to build revenue from our medical applications.
“We expect to sustain the positive revenue trend of the last two years into fiscal 2008. As we have seen from the fiscal 2007 year-end results, sales of our XR-EXpress product have grown substantially, producing a larger percentage of annual revenue. For fiscal 2008, we will focus on applications in the medical field and will strategically adjust our product mix with a higher profit margin.”
About New Mexico Software
New Mexico Software, Inc. is a leading provider of information management solutions that significantly improve the interface between the paper world and the digital world, facilitating a true paperless environment. For more information, visit www.nmxc.net or www.nmxs.com, or contact Dick Govatski, president and CEO, at (505) 255-1999 or ceo@nmxs.com.
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