May 14, 2008
New Mexico Software Announces First Quarter 2008 Financial Results
Significant Reduction in Net Losses
ALBUQUERQUE, NM, May 14-- New Mexico Software, Inc. (OTC Bulletin Board: NMXC), www.nmxc.net, a leading services provider of next-generation business and medical services, today announced financial results for the first quarter ending March 31, 2008. It is reported that the net loss for the first quarter was reduced by 57%, to $73,000 from $168,000 in the first quarter of 2007.
First Quarter Highlights:
A marginal decrease of 2% in revenue to $235,000 for the first quarter of 2008, as compared to $240,000 for the first quarter of 2007
An increase of 39% in software usage fees, primarily due to a 37% increase generated by our medical solutions.
A 4% decrease in gross profit to $161,000 for the first quarter of 2008 as compared to $167,000 gross profit for the first quarter of 2007
A decrease of $106,000 in operating costs and expenses.
New Mexico Software CEO, Dick Govatski, said, “For the first quarter of 2008, we have seen a continued increase of our customer base. We expect to sustain the positive revenue trend in the customer usage segment of our business. Simultaneously, we narrowed our focus on sales of enterprise-level systems requiring substantial customization. Our effective approach to cost control has eliminated $106,000 in operating costs for this quarter, compared to the same quarter a year ago. Looking forward, we will continue to acquire new customers from the series of new products we introduced last year, and we will still concentrate on recurring revenue from repeat customers in medical applications.
“Since the end of the first quarter, we are amidst several other positive developments. We look forward to sharing this information and updating shareholders on these significant developments in the weeks ahead.”
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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