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In an August 13 release, the company said second quarter 2009 financial highlights:
- Total revenue increased 345 percent to $902,000 from $202,000 in Q2 2008
- Six month revenue rose 318 percent to $1,828,000 from $437,000 in the first half of 2008
- Telerad Radiological Services (TRS) division revenue was $728,000, or 81 percent of total Q2 revenue. TRS operating profit was $1,000
- Software division revenue was $185,000 or 20 percent of total Q2 revenue. Software division operating loss was ($19,000)
- Cash and cash equivalents totaled $65,000, a decrease from $103,000 as of March 31,
- Gross profit increased 259 percent to $226,000 from $63,000 in Q2 2008
- Net loss decreased to ($63,000) from ($172,000) a year ago
- During the quarter the company spent roughly $48,000 on legal fees
New Mexico Software CEO Dick Govatski said, "Our Telerad radiological services revenue continued to drive our company's growth. Because of the current and potential opportunities in telemedicine and teleradiology in particular, we are continuing to focus the majority of our marketing efforts in these areas. We began our Telerad services business in May 2008 and in a little over a year, it has become our primary business segment. We currently have 20 licensed radiologists available to read and report on radiological studies from customers in 34 states."
New Mexico Software develops and provides medical IT services and communication solutions within the preventative and critical healthcare segments.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
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