Business
Net Medical Reports Progress on Multiple Fronts. Nine Month Revenue $4.4 million vs $946,000. Q3 Net Income $1.3 million vs Loss of ($290,000).
Net Medical Reports Progress on Multiple Fronts. Nine Month Revenue $4.4 million vs $946,000. Q3 Net Income $1.3 million vs Loss of ($290,000)..
About this update from Net Medical Xpress Solutions, Inc.
[{"type":"text","content":"ALBUQUERQUE, NM / ACCESSWIRE / November 14, 2022 / Net Medical (OTC PINK:NMXS) Net Medical final revenue was $1,008,000 for the third quarter of 2022. This compared with total revenue of $341,173 in the third quarter of 2021. Net income was $211,000 versus a net loss of ($122,028) in the third quarter of 2021.For the first nine months of 2022, the company revenue was $4,478,000 versus $946,000, a gain of 373% for the first nine months of 2021. Net income was $1,357,000 versus a loss of ($290,000) in the first nine months of 2021. At the end of the quarter, Net Medical had $1.3 million in cash and equivalents and total current assets of $2.9 million.Net Medical CEO Dick Govatski said, "The final numbers for the third quarter turned out to be slightly better than we reported on November 3rd. In the meantime, I am pleased to report our company is successfully moving forward on important multiple fronts."Our fourth quarter is off to a robust start. Our COVID testing numbers are strong even as we are expanding our coverage of homeless shelters at the request of the state of New Mexico. We will also be adding coverage of assisted living facilities in Albuquerque. This coincides with the expansion of our medical fleet enabling greater reach throughout the state. We will have more to say later about even further additional extensions of testing coverage. We now have a new permanent location in Taos, which strengthens our operations in northern New Mexico. "We are entering what we call 'Sneezin' Season,' which will increase demand for testing services. Press reports reveal growing cases of COVID and flu not only in New Mexico, but throughout the country.A recent report from the University of New Mexico said, ‘The confluence of RSV, Flu, and COVID is filling up pediatric beds in hospitals in New Mexico.' (https://www.kunm.org/local-news/2022-10-29/confluence-of-rsv-flu-and-covid-is-filling-up-pediatric-beds-in-hospitals-in-new-mexico). Earlier this month the New Mexico Department of Health said, "Flu activity is on the rise throughout the U.S., particularly in the east and southeast parts of the country where flu-like illness is above average compared to prior years. A triple threat of respiratory illnesses this year is very concerning because all are very contagious,' said David R. Scrase M.D, acting DOH cabinet...