Health & Fitness
Health and Fitness
Health and Fitness
Tue, May 18, 2010 
LITTLETON, Colo.--([ BUSINESS WIRE ])--Zynex, Inc. (OTCBB: [ ZYXI ]), a provider of pain management systems and electrotherapy products for medical patients with functional disability, announces net revenues of $4,875,000 for the first quarter ended March 31, 2010. Net revenues grew 15% compared to Q1 2009.
Thomas Sandgaard, CEO, said: "I am proud to announce our 2010 Q1 financial results which were in the forecasted range. In the 1st quarter of 2010 we continued investing in the expansion of our sales force and the build-out of our infrastructure to handle the claims and orders generated by the growing Zynex sales organization. We believe that this increased investment will enable Zynex to generate substantial growth in fiscal 2010.a
Highlights from Q1 2010 consolidated financial statements (unaudited): | ||||||
| ($ in thousands, except per share amounts) | ||||||
Three months, ended March 31 | ||||||
2010 | 2009 | |||||
Net Revenue | $ | 4,875 | $ | 4,232 | ||
Net Income (Loss) | $ | (67 | ) | $ | 951 | |
Fully Diluted Earnings per Share | * | $ | 0.03 | |||
Net Cash (Used in) Provided by Operating Activities | $ | (651 | ) | $ | 959 | |
Stockholders Equity | $ | 7,480 | $ | 5,350 | ||
Weighted Average Number of Shares Outstanding (common shares, fully diluted) | 30,497,318 | 30,489,129 | ||||
| ||||||
| * Less than $(0.00) per share. | ||||||
About Zynex
Zynex, Inc. (founded in 1996) engineers, manufactures, markets and sells its own design of electrotherapy medical devices in two distinct markets: standard digital electrotherapy products for pain relief and pain management; and the NeuroMove(TM) for stroke and spinal cord injury (SCI) rehabilitation. Zynex's product lines are fully developed, FDA-cleared, commercially sold, an have been developed to uphold the Company's [ mission ] of improving the quality of life for patients suffering from impaired mobility due to stroke, spinal cord injury, or debilitating and chronic pain. Zynex has also announced the development of two now business units, Zynex Monitoring Solutions and Zynex NeuroDiagnostic.
Safe Harbor Statement
Certain statements in this release are "forward-looking" and as such are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause actual results to materially differ from forward-looking statements include, but are not limited to, the need to obtain additional capital in order to grow our business, our ability to engage additional sales representatives, the need to obtain FDA clearance and CE marking of new products, the acceptance of new products as well as existing products by doctors and [ hospitals ], larger competitors with greater financial resources, the need to keep pace with technological changes, our dependence on the reimbursement from insurance companies for products sold or rented to our customers, acceptance of our products by health insurance providers, our dependence on third party manufacturers to produce our goods on time and to our specifications, implementation of our sales strategy including a strong direct sales force, the uncertain outcome of pending material litigation and other risks described in our 10-K Report for the year ended December 31, 2009.
