Business
Compumed, Inc. Announces Fiscal 2022 Second Quarter Results
Compumed, Inc. Announces Fiscal 2022 Second Quarter Results.
About this update from Compumed, Inc.
[{"type":"text","content":"LOS ANGELES, CA / ACCESSWIRE / May 13, 2022 / CompuMed, Inc. (OTC PINK:CMPD) ("CompuMed" or the "Company") is pleased to announce fiscal 2022 2nd quarter results:FISCAL 2022 SECOND QUARTER:Revenue for the 2nd quarter was $1.6 million compared to $1.63 million a year ago and $1.54 million in the fiscal 1st quarter of 2022 (a decrease of 1.9% and an increase of 3.9% respectively).Operating income in the quarter was $53,000 compared to $160,000 a year ago and $121,000 in the fiscal 1st quarter of 2022 (decreasing 56% sequentially and 67% year over year). Non-recurring events such as legal costs and the shareholder's meeting and reverse stock split significantly impacted these operating results. We continue investing in software development as seen on the balance sheet. We believe that these are appropriate investments for the long term future of the business and shareholder value.At March 31, 2022 CompuMed enjoyed a cash + accounts receivable position of $2.6 million, down 7.0% from December 31, 2021 down 8.5% from one year ago. Over the past several quarters we have meaningfully reduced outstanding lease balances, have increased our equipment portfolio, and have maintained our cash levels with the investments made in technology.Please note, CompuMed has not utilized the majority of the previously disclosed $1 million share buyback authorization.About CompuMed, Inc.CompuMed, Inc. (OTC PINK:CMPD) Diagnostic Telemedicine services provide patients with the highest level of clinical care at reduced costs. Its telecardiology and teleradiology offerings provide real-time access to U.S. Board-Certified specialists through cloud-based technology and integrated medical devices to medical facilities anywhere in the world. The company has been in business over 26 years and services over 1,000 clinical settings. CompuMed is headquartered in Los Angeles, CA. Visit CompuMed at www.compumedinc.com.Forward-Looking StatementsCertain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all passages containing words such as "will," "aims," "anticipates," "becoming," "believes," "continue," "estimates," "expects," "f...