LOS ANGELES, August 17, 2015 /PRNewswire/ --
- Revenue Increased 34%
- EBITDA Increased 325%
CompuMed, Inc. (OTCPink: CMPD) reported Fiscal 2015 third quarter results today. The company continues to focus on revenue growth, cost containment and operating efficiency improvements. CompuMed achieved a 34% increase in revenue. The company's sales increased significantly across all major product and service lines. In addition, Earnings Before Interest Taxes Depreciation Amortization (EBITDA) increased more than four times that of EBITDA in the same quarter from the previous year.
CompuMed's quarterly growth was driven in part by a 295% increase in ultrasound interpretation revenue and a 74% increase in teleradiology revenue. These residual revenue streams are expected to be key growth areas for the company in future quarters. The organization's sales of electrocardiogram (ECG) products and supplies also increased by 40% during the quarter.
The company achieved a 20% decrease and a 21% decrease in selling expenses and interest expenses, respectively. The decrease in interest expenses was the result of certain capital lease obligations nearing end of life. CompuMed expects a number of capital leases to be retired in upcoming quarters, which should further lower interest expenses and improve cash flow. The company's operating expenses increased by 23% from the previous year, primarily due to the increase in sales. CompuMed's general and administrative expenses increased by 8%.
The company's Days Sales Outstanding (DSO) declined by approximately 11% to 47 days, from 53 days in the same quarter from the previous year.
About CompuMed, Inc.
CompuMed, Inc. (OTCPink: CMPD) Enterprise Telemedicine Solutions provide patients with the highest level of clinical care at reduced costs. Its telecardiology and teleradiology offerings provide real-time access to U.S. Board-Certified specialists through cloud-based technology and integrated medical devices to medical facilities anywhere in the world. The company has been in business over 26 years and services over 1,000 clinical settings. CompuMed is headquartered in Los Angeles, CA. Visit CompuMed at http://www.compumedinc.com.
Forward-Looking Statements
Statements contained in this report, such as statements about revenue, operations, and earnings growth and other financial results are forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All such forward-looking statements including statements concerning the Company's plans, objectives, expectations and intentions are based largely on management's expectations and are subject to and qualified by risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These statements are subject to uncertainties and risks including, without limitation, product and service demand and acceptance, changes in technology, ability to raise capital, the availability of appropriate acquisition candidates and/or business partnerships, economic conditions, the impact of competition and pricing, capacity and supply constraints or difficulties, government regulation and other risks identified in the Company's filings with the Securities and Exchange Commission and OTC Pink operated by OTCMarkets. All such forward-looking statements are expressly qualified by these cautionary statements. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect events, conditions or circumstances on which any such statement is based after the date hereof, except as required by law.
CompuMed, Inc. Investor Relations can be reached at [email protected] or (310) 258-5000 x117.
SOURCE CompuMed
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