Press Release Source: Zynex Medical Holdings, Inc.
Zynex Announces Record Revenue and Profit in 2007
Wednesday April 16, 9:20 am ET
LITTLETON, Colo.--(BUSINESS WIRE)--Zynex Medical Holdings, Inc. (OTCBB:ZYNX - News), a provider of pain management systems and electrotherapy products for medical patients with functional disability, announces a $2,131,350 profit in 2007.
Net sales and rental income for the twelve months ended December 31, 2007, were $8,048,252, an increase of $5,491,444 or 215% compared to $2,556,809 for 2006 and a profit of $2,131,350 versus a loss of $320,370 in the prior year.
Thomas Sandgaard, CEO, said: "We grew revenues over three times, a remarkable 215% in 2007, increased our gross profit margin from 88.1% to 90.9%, while at the same time our operating expenses only increased 71.7% and we managed to produce a strong operating profit of $3,162,332 and net income of $2,131,350. Primarily as a result of our sales force expansion our total orders increased 284% from 2,705 in 2006 to 10,383 in 2007. We are also pleased to see our growth in orders though 2007 continue into the early parts of 2008. Cash provided by operations during 2007 was $746,863.”
Consolidated Statement of Operations, Year Ended Dec. 31,
2007 2006
Net Sales & Rental income $ 8,048,252 $ 2,556,809
Net Income (Loss) $ 2,131,350 $ (320,370)
Net Profit per Common Share - Basic $ .08 $ 0.00
Net Profit per Common Share - Diluted $ .07 $ 0.00
Common Shares Used in Computing Per Share Amounts -
Basic 26,595,967 24,026,988
Diluted 28,455,447 24,026,988
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