Big Tree Group Inc (BIGG)

[Ajor1]

PR Newswire; 4/18/2005


MIAMI, April 18 /PRNewswire-FirstCall/ -- Transax International Limited ("Transax") (BULLETIN BOARD: TNSX) is pleased to report its financial results for the fiscal year ending December 31st 2004 and fourth quarter 2004.

During fiscal year ended December 31, 2004, Transax generated approximately $1.2 million in net revenues compared to approximately $309,589 in net revenues during fiscal year ended December 31, 2003. The significant increase in revenues of 290% is due to the rollout of new software contracts in Brazil.

There was a net loss in 2004 of $1.8 million, or $0.11 per share, compared with a net loss in 2003 of $3.2 million, or $0.25 a share. Loss from operations in 2004 was $1.6 million compared with $3.0 million during 2003. Detailed financial statements are presented in the company's Form 10-KSB filed to the Securities and Exchange Commission.

Net Revenues for the fourth quarter 2004 were $427,000 compared to $109,000 during the corresponding period in 2003 an approximate increase of 292%.

During fiscal year ended December 31, 2004, we incurred approximately $2.8 million in operating expenses compared to approximately $3.4 million in operating expenses during fiscal year ended December 31, 2003.

Commenting on the results for fiscal 2004, Stephen Walters President & CEO of Transax stated, "Favorable growth rates are expected to continue during 2005 and along with keeping operating costs in line with those recorded in 2004, Transax is expected to reach profitability during the second quarter 2005."

About Transax International Limited: Transax is provider of network solutions for healthcare providers and health insurance companies. Its solution enables the "real-time" automation of routine patient eligibility verifications, authorization, claim adjudication, claims processing and payment functions. The "on line" technology has been proven to significantly decrease health insurance claim expenditure. Transax "Total Connectivity" solution operates in "real time" regardless of location or method of claim generation. Transax currently undertakes approximately 550,000 transactions per month and has contracts in place with major health insurers for in excess of 2,500,000 transactions per month.