5021 Indian School Road NE,
• Suite 100,
• Albuquerque
• NM
• 87110
• USA
• www.nmxc.net
Investor Contact: Frank N. Hawkins, Jr. or Julie Marshall · Hawk Associates Inc. · (305) 451-1888 · www.hawkassociates.com
Investor Contact: Frank N. Hawkins, Jr. or Julie Marshall · Hawk Associates Inc. · (305) 451-1888 · www.hawkassociates.com
New Mexico Software Q1 '09 Revenue Up 289% to $915K; Rapidly Growing Radiological Services Contribute 77% to Q1 Rev.; Net loss decreased 84% to ($12K) from ($73K) a year ago
TeleRad Services (TRS) is a wholly owned subsidiary of NMXC whose primary focus is to deliver interpretive radiological cases studies for medical facilities.
NMXC provides the use of its medical image management system, XR-EXpress (X-REX), to receive medical imaging scans from clinical site(s) and connects chosen radiologists with the ability to access the scans and generate final reports. X-REX received its FDA 510(k) clearance in 2008.
Differentiators
COMPANY PRODUCTS
TELERAD SERVICES, INC. (TRS)
The reading business at TRS is a 24/7/365 teleradiology service, currently licensed to provide services across the nation in 50 states. The teams of radiologists are highly experienced in specialized types of studies. TRS provides final reports available in real time using the XR-EXpress system. The OPs team at Telerad assists TRS radiologists to route, coordinate doctor to doctor conferences, and manages the workload for the over 7,400 facilities on our system. Our recent turn around times (TAT) for STAT cases is 15 minutes, 25 minutes for routine exams, and 21 minute averages for most exams.XR-EXPRES (X-REX)
NMXC's XR-EXpress (X-REX) system allows doctors to examine medical images (X-Rays, CT Scans, Ultrasounds, EKGs, Barium studies, etc) over the Internet. Image quality is vital since the images are used by doctors to diagnose patients. To this task, XR-EX captures medical images as high resolution Dicom digital files, "tags" them with patient information, distributes the files to the credentialed, licensed radiologists, returns the medical report to the medical facility requesting the report, and stores them on line for 18 months. Near line storage for each case continues for 7 years.With X-REX, medical professionals can diagnose a case from their computer and return the results, significantly cutting the time it takes to receive results so that primary physicians can handle medical treatment for their patients as soon as possible. Previous cases for a particular patient may be accessed at any time from the database, eliminating the cost and hassle of storing old X-Ray film and cases. X-REX is a secure, FDA 510(k) cleared, HIPAA compliant system and SSL secured assuring Protected Health Information (PHI).
TRAINING
NMXC trains radiologists to access X-REX. A trainer spends 2-4 hours with each radiologist to familiarize them with the system and the work flow of reviewing scans and entering reports.ENGINERING
NMXC provides customized reporting, forms, case report forms (CRF), and interfaces as needed. All engineering is done in-house.CONSULTING & PROJECT MGMT
NMXC provides a project manager and consulting services as required.PROJECT INITIATION & TIME LINE
NMXC offers the user requirements document for customer’s approval a week after completing an agreement and terms with NMXC and/ or TRS, and any related parties. Assuming minimal modifications, X-REX and TRS can be operational for review and approval within 10 days of customer’s approval. Additional modifications will trigger a project schedule along with the user requirements document.Recent News
New Mexico Software Q1 Revenue Up 289% to $915K
New Mexico Software Expects Record First Quarter Revenue as Business Continues to Grow Strongly
New Mexico Software 2008 Revenue Up 66% to $1.64M; Q4 2008 Revenue Up 174% on Rapidly Growing Radiological Services
New Mexico Software (OTC BB: NMXC) CEO Dick Govatski Answers Shareholder Questions
New Mexico Software Reports Rapidly Ramping Sales for 2008; Strong Outlook for 2009.
- Ability to conclude licensing and marketing agreements necessary to successfully penetrate targeted markets
- Potential competition from larger, better-funded companies
- Ability to strengthen cash flow and the balance sheet
The Outlook Since the beginning of 2006, NMXC has been restructuring how it sells its products. In the past, NMXC has faced some challenges developing a sales force and distribution channels in order to market its products.
NMXC is in its most promising position ever. NMXC has every reason to believe this is just the beginning. NMXC is already doing business in 39 states. In 2009, the number of medical divisions NMXC deals with has increased to 139. NMXC more than doubled the number of facilities for which they provide service. The number currently stands at around 7,400.
After three consecutive years of positive revenue growth, Q1 '09 revenue increased 289% to a record $915,000 from $235,000 in Q1, 2008. Sequentially, Q1 revenue increased 35% from $679,000 in Q4, 2008. The increase was driven primarily by the company’s new radiological services from its whollyowned subsidiary, Telerad Service (TRS).
Q1 '09 Gross profit increased 61% to $259,000 from $161,000 in Q1, 2008. Q1 '09 Net loss decreased 84% to ($12,000) from ($73,000) a year ago. Sequentially, the net loss represented a 94% decrease from ($194,000) in Q4, 2008.
The company's TRS subsidiary, which has provided interpretations of X-Ray films, CT’s and Ultrasounds since May 2008, contributed 77% to Q1 '09 revenue. NMXC currently has over 25 licensed doctors on contract, to provide high-quality reports to customers in 39 states with exceptional turn-around times.
Because of potential opportunities in telemedicine and teleradiology in particular, as part of the health care reform in the U.S., NMXC expects to benefit from this growth during the next few years. NMXC will focus its teleradiology marketing efforts to further expand its customer and recurring revenue base. Its primary goal for 2009 is to become profitable by end of the year.
Management
Chairman and CEO-
Dick
Govatski
Executive Vice President-
Toby
Dickey
Director-
John
E.
Handley
Director-
Frank
Reidy
Technology & Development Vice President-
Rafael
Rubio
Director of Operations Telerad Division-
Nestor
Pena
Billing Mgr - 3rd Party Integration-
Kimberly
Broderick
