Business
MedX Health Corp Announces Operating Results For The Three Months Ended March 31, 2008.
MISSISSAUGA, ON, June 2 /CNW/ - MedX Health Corp., a leader in the development, manufacture and d...
About this update from Medx Health Corp.
[{"type":"text","content":"\n\n\n\nMISSISSAUGA, ON, June 2 /CNW/ - MedX Health Corp., a leader in the\ndevelopment, manufacture and distribution of innovative phototherapy devices,\nannounces its results for the three months ended March 31, 2008.\n\n\nRevenue for the three months ended March 31, 2008 was $295,582 compared\nto $312,712 for the three months ended March 31, 2007 a 5.5% decrease versus\nthe same period last year.\n\n\nMedX incurred a net loss of $688,604 in Q1 2008 compared to a net loss of\n$545,368 for the same period in the prior year.\n\n\n-------------------------------------------------------------------------\nCanadian $ Q1 2008 Q1 2007\n-------------------------------------------------------------------------\nRevenue 295,582 312,712\n-------------------------------------------------------------------------\nGross Margin % 69% 74%\n-------------------------------------------------------------------------\nIncome (Loss) from continued operations (687,144) (544,462)\n-------------------------------------------------------------------------\nIncome (Loss) from discontinued operations (1,460) (906)\n-------------------------------------------------------------------------\nNet Income (Loss) for period (688,604) (545,368)\n-------------------------------------------------------------------------\nWeighted Average no. of shares outstanding -\n basic and diluted 19,892,743 15,043,937\n-------------------------------------------------------------------------\nLoss per Common Share-basic and diluted ($0.04) ($0.00)\n-------------------------------------------------------------------------\n\n\n"Sales in the quarter were significantly higher than the previous\nquarter, but slightly lower than last year. The US dollar continued to impact\ncomparative results with the prior period, however progress is being made to\nincrease volume in existing and the new dental markets. The completion of the\nCompany's IPO on January 31, 2008 is allowing the Company to embark on a more\naggressive marketing strategy and continue with its product development\nstrategy." said Steven Guillen, President of MedX Health.\n\n\nSignificant achievements during the quarter were as follows:\n\n- Completion of IPO for gross proceeds of $4,088,000.\n- Continued development of new light therapy products and intellectual\n property associated thereto.\n- Continued de...