Business
Net Medical Reports Strong Y-O-Y Q2, First Half Revenue and Net Income
Net Medical Reports Strong Y-O-Y Q2, First Half Revenue and Net Income.
About this update from Net Medical Xpress Solutions, Inc.
[{"type":"text","content":"ALBUQUERQUE, NM / ACCESSWIRE / July 28, 2022 / Net Medical (OTC PINK:NMXS) announced today preliminary, unaudited revenue and net income for the second fiscal quarter and first half ending June 30, 2022.For the second quarter of 2022, the company reported total revenue of $1,563,000. This compared with total revenue of $315,000 in the second quarter of 2021. Net income was $405,000 versus a net loss of ($139,000) in the second quarter of 2021.For the first six months of 2022, the company reported revenue of $3,470,000 versus $605,000 for the first half of 2021. Net income was $1,149,000 versus a loss of ($168,000) in the first half of 2021.Net Medical CEO Dick Govatski said, "While these numbers are still subject to further review, they indicate we had another strong quarter and first half of 2022."Our daily Covid testing program and our FDA clinical trial businesses have been generally solid although we faced some challenges in adjustments caused by unpredictable changes in Federal insurance reimbursements. This included an abrupt cancellation in the middle of March of the Health Resources and Services Administration (HRSA) program that covered uninsured patients."At the same time, we experienced a dip in our daily Covid testing program. However, that began to pick up again in late May and has been strong ever since. We are currently seeing up to 30% Covid positive tests on some days underscoring the ongoing need for our mobile testing program supported by the New Mexico Department of Health," Govatski said.For more information, call 505-255-1999 X 320. Visit www.netmedical.com. Email [email protected] Net Medical - publicly traded (OTC PINK:NMXS) since 1999.Net Medical has two operating units. Net Medical Labs is a moderate complex CLIA certified lab that specializes in virus testing and diagnostics. The company's mobile fleet of vans provide COVID and flu testing in New Mexico for schools, companies, homeless shelters and nursing homes. The company provides a unique Test-To-Treat program for home and office care that combines both diagnostic and pharmaceutical services that are particularly valuable in rural communities. The lab also serves as a reference lab for physician offices and other facilities that lack services for complex virus diagnostics. Net Medical Xpress provides telemedicine solutions ...