January 29, 2009
New Mexico Software Reports Rapidly Ramping Sales for 2008; Strong Outlook for 2009
Q4 Revenue Up 174%, 2008 Revenue Up 62%
ALBUQUERQUE, NM, January 29-- New Mexico Software, Inc. (OTC Bulletin Board: NMXC), www.nmxc.net, a leading services provider of next-generation business and medical products, announced today announced today that annual revenue in 2008 increased 66% to $1.6 million from $988,000 in 2007. The increase was driven by the company’s new radiological services from its wholly-owned subsidiary, Telerad Service (TRS). Revenue for the fourth quarter of 2008 grew 174% to $679,000 from $248,000 in the fourth quarter of 2007. The company’s 2008 net loss decreased 34% from $739,000 in 2007 to $485,000.
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
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 Radiological Services (TRS) 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 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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