April 15 , 2009
New Mexico Software 2008 Revenue Up 66% to $1.64M
Q4 2008 Revenue Up 174% on Rapidly Growing Radiological Services
ALBUQUERQUE, NM, April 15-- New Mexico Software, Inc. (OTC Bulletin Board: NMXC), www.nmxc.net, a leading services provider of next-generation business and medical products, 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.
2008 financial highlights included::
Revenue increased 66% to $1.64 million
Since June 2008, Radiological Services (TRS) generated $864,000 in revenue
Software usage revenue increased 15% to $457,000
G & A expenses decreased 25% to $811,000
Net operating loss decreased 36% from $748,000 in 2007 to $479,000 in 2008
Net loss decreased 34% to $485,000
New Mexico Software CEO Dick Govatski said, “2008 was our best year ever. This was our third consecutive year of positive revenue growth and it appears we will continue this trend into the first quarter of 2009 with revenue substantially above the fourth quarter. We anticipate overall revenue growth for the full year 2009.”
“Our TRS subsidiary, which started operations in May 2008, contributed 53% to our 2008 revenue. TRS provides radiological services to hospitals, mobile and portable x-ray providers, prisons, urgent care facilities and assisted living facilities. We currently have 23 doctors on contract, licensed in 48 states, and provide high-quality reports to customers in 34 states with exceptional turn-around times.”
Govatski added, “Because of the potential opportunities in telemedicine, as part of the health care reform in the U.S., we intend to continue to take advantage of the growth in the teleradiology market during the next few years. Our primary goal for 2009 is to become profitable by the end of the year. ” Govatski said.
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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