Net Medical Reports Strong Q1 Revenue and Net Income
Accesswire “Press Releases”
ALBUQUERQUE, NM / ACCESSWIRE / May 4, 2022 / Net Medical Xpress (OTC PINK:NMXS) announced today unaudited revenue and net income for the first fiscal quarter ending March 31, 2022.
The company reported total revenue of $1,906,851. This compared with total revenue of $290,000 in the first quarter of 2021. Net income was $577,152 versus a loss of ($29,000) in the first quarter of 2021.
CEO Dick Govatski said, “I am pleased to report a highly successful and encouraging start to fiscal year 2022 for Net Medical.
“The strong results reflected not only the investments we’ve made in our testing labs that are paying off handsomely, but also the powerful synergies of our unique range of skills and programs, which have opened the way to exciting new growth opportunities.
“We are currently meeting multiple government and private needs for testing related to the COVID-19 pandemic. This includes our participation in the federal government’s Test-to-Treat program. In addition, with the launch of our international clinical trial program for medical device manufacturers needing to file either an Emergency Use Authorization (EUA) or a 510K clearance with the FDA, we’ve reached a new plateau in our range of offered services that we believe will carry us well into the future.
“We also are preparing the launch of a new line of supplements to boost immune systems specifically targeting colds, flu, inflammation and cell mutations. While this is a highly competitive business, we believe our trusted position in the market as a company with an A+ Better Business Bureau rating gives us valuable competitive advantages,” Govatski said.