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In the company's news yesterday, New Mexico Software, Inc. announced its financial results for the second quarter ended June 30, 2009. Second Quarter 2009 Financial Highlights Include: - Total revenue increased 345% to $902,000 from $202,000 in Q2 2008 - Six month revenue rose 318% to $1,828,000 from $437,000 in the first half of 2008 - Cash and cash equivalents totaled $65,000, a decrease from $103,000 as of March 31, 2009 - Gross profit increased 259% to $226,000 from $63,000 in Q2 2008 - Net loss decreased to ($63,000) from ($172,000) a year ago "Our key indicator of operating progress is gross revenue," CEO Dick Govatski stated. "As we continue to grow our variable costs begin to constitute a greater percentage of our cost of sales, the gross profit percentage will vary more consistently with revenue making gross profit a more useful indicator of our progress. At the same time, we have maintained a strong focus on expenses and to help control costs we earlier eliminated six positions. Those savings of approximately $75,000 per quarter will be more strongly reflected in the third quarter. We faced a legal challenge in the quarter, which we hope will be resolved in our favor in the near future." "We believe we can continue to take advantage of the growth in the telemedicine market in general and the teleradiology market in particular during the next few years," Govatski added. "In the meantime, our primary goal is still focused on keeping the momentum going forward with the goal of becoming profitable by the end of the year." About QualityStocks QualityStocks, based in Scottsdale, Arizona is a free service that collects data from hundreds Small-Cap and Micro-Cap online Investment Newsletters into one Free Daily Newsletter Report. QualityStocks is dedicated to assisting emerging public companies with their advertising efforts and now has over 750,000+ subscribers that receive The Daily Stock Newsletters. To sign up for "The QualityStocks Daily Newsletter" please visit www.QualityStocks.net Please see disclaimer on QualityStocks website: http://Disclaimer.QualityStocks.net Forward-Looking Statement: This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements. CONTACT: Michael McCarthy, Managing Director, QualityStocks.net Tel: +1 480 308 0703 Fax: +1 480 467 0312 e-mail: editor@QualityStocks.net WWW: http://www.QualityStocks.net ((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com. For full details for NMXC click here.
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