Global Med Reports $788,000 in Positive Cash Flow from Operations for the Fourth Quarter Ended December 31, 2000

Apr 17, 2001, 01:00 ET from Global Med Technologies, Inc.

    DENVER, April 17 /PRNewswire/ -- Global Med Technologies, Inc.
 (OTC Bulletin Board:   GLOB) ("Global Med" or the "Company") today announced
 financial results for the fourth quarter and year ended December 31, 2000.
     During the three months ended December 31, 2000, Global Med reported
 positive cash flow from operations of $788,000.  The cash flows from
 operations for the fourth quarter include a one-time advanced payment from a
 customer in the amount of approximately $566,000.  Without this prepayment,
 cash flows from operations would have been $222,000.  The loss from operations
 for the fourth quarter includes non-cash financing charges of $561,000.  The
 Company had cash on-hand of $1.21 million as of December 31, 2000 and gross
 accounts receivable of $839,000.  This compares to a cash balance of $330,000
 and a gross accounts receivable balance of $495,000 as of December 31, 1999.
     Global Med's President and Chief Operating Officer, Mr. Thomas F.
 Marcinek, commenting on the quarterly results stated that, "The fourth quarter
 results represent a continuing trend for the Company.  The ability of the
 Company to generate positive cash flow in the fourth quarter demonstrates that
 the Company is headed in the proper direction.  However, the fourth quarter
 results do not guarantee that there will be positive cash flows in the ensuing
 quarters."  Mr. Marcinek also stated that, "The Company, for now, is operating
 without additional external funding."  The Company's combined cash and
 accounts receivable balance at December 31, 2000 of $2.049 million represented
 an increase of $1.224 million over the December 31, 1999's comparable cash and
 accounts receivable balance of $825,000.
     Mr. Marcinek also commented on the Company's financial position stating
 that, "Global Med is entering fiscal year 2001 in the strongest financial
 position in which it has ever been.  Global Med's current financial position,
 as well as future prospects, bode well for the Company.  With two new
 marketing partners, Triple G Systems Group, Inc. and Sysmex InfoSystems
 America, Inc. (SIA), the Company is poised to take advantage of expanded
 market opportunities.  Our relationships with our marketing partners give our
 products a level of national visibility that should help increase sales of our
 blood banking and transfusion products and services."
     Mr. Marcinek commented on the fourth quarter and year end results for
 December 31, 2000 stating, "The decline in revenues of $261,000 for the
 quarter and $1.011 million for the year ended December 31, 2000, when compared
 with the similar periods for the prior year do not reflect an accurate or
 complete comparative picture.  December 31, 1999 revenues included an unusual
 transaction.  The Company recognized a one-time settlement fee of
 $919,000 during 1999.  The Company actually had more success selling its
 products in the year ended 2000 compared with 1999.  During 2000, the Company
 generated a total of approximately $1.6 million in sales bookings from
 non-recurring revenue sources in the form of software license and
 implementation fees.  This compares to approximately $590,000 in sales
 bookings from non-recurring sources for the year ended December 31, 1999.
 Revenue recognition rules prevented the Company from recognizing all of the
 revenue associated with our fiscal year 2000 sales booking, but the backlog
 will be recognized in subsequent years and we are also adding to our recurring
 maintenance revenue base with these sales."
     For the year ended December 31, 2000, the net loss decreased by
 $3.053 million to $4.892 million (of which $3.274 million is non-cash charges)
 from $7.945 million in 1999.  The decrease in the loss was mainly attributable
 to the decrease in non-cash financing costs of $4.055 million associated with
 various transactions with related parties.  The net loss also decreased
 because cost of revenues decreased by $1.318 million to $1.629 million during
 2000 compared with $2.947 million during 1999.  These reductions were offset
 by a decrease in revenues of $1.011 million during 2000 to $4.379 million
 compared with $5.390 million during 1999.  (As discussed above, the reduction
 in revenues was primarily attributable to the recognition of the one-time
 settlement fee of $919,000 during 1999.)
     The reduction in the net loss was also offset by an increase in operating
 expenses of $799,000.  This increase was due in large part to the increased
 expenses associated with the Company's PeopleMed.com, Inc. subsidiary.  The
 Company also recognized increased other income (expenses), exclusive of
 financing costs which are discussed above, of $(510,000) to $(602,000) during
 2000 compared with $(92,000) during 1999.  The increase in other income
 (expense) was attributable to increased interest expenses of $(153,000) and a
 decrease in interest and other income of $357,000.  The decrease in other
 income was primarily attributable to the collection of $250,000 in 1999
 related to a note receivable balance that had previously been written off.
 
       GLOBAL MED TECHNOLOGIES, INC. (OTC Bulletin Board:   GLOB  -- news)
              (In thousands, except per common share information)
 
                                    Three Months Ended           Year Ended
                                     December 31, 2000       December 31, 2000
                                        (Unaudited)
                                     2000        1999          2000       1999
 
     Revenues                    $  1,002    $  1,263      $  4,379   $  5,390
 
     Net loss                    $ (1,709)   $ (1,537)     $ (4,892)  $ (7,945)
 
     Net loss per
     Common share                $  (0.10)   $  (0.14)     $  (0.36)  $  (0.75)
 
     Cash flow provided by
     (used in) operations            $788*   $   (564)     $   (570)  $ (1,285)
 
     *  Includes $566,000 in advanced payments from a customer.  Without this
        prepayment, cash flows from operations for the fourth quarter of 2000
        would have been $222,000.
 
     Global Med Technologies, Inc. is an e-Health medical information
 technology company providing information management software products and
 services to the healthcare industry.  Its Wyndgate Technologies division is a
 leading supplier of management information systems to U.S. blood centers.
 Current clients of Wyndgate's products and services manage more than
 2.5 million units of blood or over 20% of the U.S. blood supply each year.
 Global Med's new subsidiary, PeopleMed.com, Inc., recently signed five-year
 marketing, development and ASP agreements with National Jewish Medical and
 Research Center, one of the world's most renowned respiratory medical and
 research centers, to jointly launch an advanced and comprehensive
 Internet-based respiratory disease management program.
 
     For information about Global Med's products and services, call
 916-404-8400, e-mail:  www.info@wyndgate.com , visit www.globalmedtech.com ,
 or www.peoplemed.com or call Tom Marcinek, President and COO, at
 (916) 404-8413.  Investor Relations:  OTC Financial Network, Rick McCaffrey,
 781-444-6100 or 877-320-5270, ext. 621 or email rick@otcfn.com .
 
     Statements in this press release that are not strictly historical are
 "forward-looking" statements within the meaning of the Safe Harbor provisions
 of the federal securities laws.  Forward-looking statements involve risks and
 uncertainties, including, but not limited to, continued acceptance of the
 Company's products and services in the marketplace, regulatory and competitive
 factors, new products and technological changes, the Company's dependence upon
 third-party suppliers, and other risks detailed from time to time in the
 Company's Form 10-KSB and other regularly filed reports.  The results of
 operations for the year ended December 31, 2000 are not necessarily indicative
 of the results that may be expected for any other future year end period.
 
 

SOURCE Global Med Technologies, Inc.
    DENVER, April 17 /PRNewswire/ -- Global Med Technologies, Inc.
 (OTC Bulletin Board:   GLOB) ("Global Med" or the "Company") today announced
 financial results for the fourth quarter and year ended December 31, 2000.
     During the three months ended December 31, 2000, Global Med reported
 positive cash flow from operations of $788,000.  The cash flows from
 operations for the fourth quarter include a one-time advanced payment from a
 customer in the amount of approximately $566,000.  Without this prepayment,
 cash flows from operations would have been $222,000.  The loss from operations
 for the fourth quarter includes non-cash financing charges of $561,000.  The
 Company had cash on-hand of $1.21 million as of December 31, 2000 and gross
 accounts receivable of $839,000.  This compares to a cash balance of $330,000
 and a gross accounts receivable balance of $495,000 as of December 31, 1999.
     Global Med's President and Chief Operating Officer, Mr. Thomas F.
 Marcinek, commenting on the quarterly results stated that, "The fourth quarter
 results represent a continuing trend for the Company.  The ability of the
 Company to generate positive cash flow in the fourth quarter demonstrates that
 the Company is headed in the proper direction.  However, the fourth quarter
 results do not guarantee that there will be positive cash flows in the ensuing
 quarters."  Mr. Marcinek also stated that, "The Company, for now, is operating
 without additional external funding."  The Company's combined cash and
 accounts receivable balance at December 31, 2000 of $2.049 million represented
 an increase of $1.224 million over the December 31, 1999's comparable cash and
 accounts receivable balance of $825,000.
     Mr. Marcinek also commented on the Company's financial position stating
 that, "Global Med is entering fiscal year 2001 in the strongest financial
 position in which it has ever been.  Global Med's current financial position,
 as well as future prospects, bode well for the Company.  With two new
 marketing partners, Triple G Systems Group, Inc. and Sysmex InfoSystems
 America, Inc. (SIA), the Company is poised to take advantage of expanded
 market opportunities.  Our relationships with our marketing partners give our
 products a level of national visibility that should help increase sales of our
 blood banking and transfusion products and services."
     Mr. Marcinek commented on the fourth quarter and year end results for
 December 31, 2000 stating, "The decline in revenues of $261,000 for the
 quarter and $1.011 million for the year ended December 31, 2000, when compared
 with the similar periods for the prior year do not reflect an accurate or
 complete comparative picture.  December 31, 1999 revenues included an unusual
 transaction.  The Company recognized a one-time settlement fee of
 $919,000 during 1999.  The Company actually had more success selling its
 products in the year ended 2000 compared with 1999.  During 2000, the Company
 generated a total of approximately $1.6 million in sales bookings from
 non-recurring revenue sources in the form of software license and
 implementation fees.  This compares to approximately $590,000 in sales
 bookings from non-recurring sources for the year ended December 31, 1999.
 Revenue recognition rules prevented the Company from recognizing all of the
 revenue associated with our fiscal year 2000 sales booking, but the backlog
 will be recognized in subsequent years and we are also adding to our recurring
 maintenance revenue base with these sales."
     For the year ended December 31, 2000, the net loss decreased by
 $3.053 million to $4.892 million (of which $3.274 million is non-cash charges)
 from $7.945 million in 1999.  The decrease in the loss was mainly attributable
 to the decrease in non-cash financing costs of $4.055 million associated with
 various transactions with related parties.  The net loss also decreased
 because cost of revenues decreased by $1.318 million to $1.629 million during
 2000 compared with $2.947 million during 1999.  These reductions were offset
 by a decrease in revenues of $1.011 million during 2000 to $4.379 million
 compared with $5.390 million during 1999.  (As discussed above, the reduction
 in revenues was primarily attributable to the recognition of the one-time
 settlement fee of $919,000 during 1999.)
     The reduction in the net loss was also offset by an increase in operating
 expenses of $799,000.  This increase was due in large part to the increased
 expenses associated with the Company's PeopleMed.com, Inc. subsidiary.  The
 Company also recognized increased other income (expenses), exclusive of
 financing costs which are discussed above, of $(510,000) to $(602,000) during
 2000 compared with $(92,000) during 1999.  The increase in other income
 (expense) was attributable to increased interest expenses of $(153,000) and a
 decrease in interest and other income of $357,000.  The decrease in other
 income was primarily attributable to the collection of $250,000 in 1999
 related to a note receivable balance that had previously been written off.
 
       GLOBAL MED TECHNOLOGIES, INC. (OTC Bulletin Board:   GLOB  -- news)
              (In thousands, except per common share information)
 
                                    Three Months Ended           Year Ended
                                     December 31, 2000       December 31, 2000
                                        (Unaudited)
                                     2000        1999          2000       1999
 
     Revenues                    $  1,002    $  1,263      $  4,379   $  5,390
 
     Net loss                    $ (1,709)   $ (1,537)     $ (4,892)  $ (7,945)
 
     Net loss per
     Common share                $  (0.10)   $  (0.14)     $  (0.36)  $  (0.75)
 
     Cash flow provided by
     (used in) operations            $788*   $   (564)     $   (570)  $ (1,285)
 
     *  Includes $566,000 in advanced payments from a customer.  Without this
        prepayment, cash flows from operations for the fourth quarter of 2000
        would have been $222,000.
 
     Global Med Technologies, Inc. is an e-Health medical information
 technology company providing information management software products and
 services to the healthcare industry.  Its Wyndgate Technologies division is a
 leading supplier of management information systems to U.S. blood centers.
 Current clients of Wyndgate's products and services manage more than
 2.5 million units of blood or over 20% of the U.S. blood supply each year.
 Global Med's new subsidiary, PeopleMed.com, Inc., recently signed five-year
 marketing, development and ASP agreements with National Jewish Medical and
 Research Center, one of the world's most renowned respiratory medical and
 research centers, to jointly launch an advanced and comprehensive
 Internet-based respiratory disease management program.
 
     For information about Global Med's products and services, call
 916-404-8400, e-mail:  www.info@wyndgate.com , visit www.globalmedtech.com ,
 or www.peoplemed.com or call Tom Marcinek, President and COO, at
 (916) 404-8413.  Investor Relations:  OTC Financial Network, Rick McCaffrey,
 781-444-6100 or 877-320-5270, ext. 621 or email rick@otcfn.com .
 
     Statements in this press release that are not strictly historical are
 "forward-looking" statements within the meaning of the Safe Harbor provisions
 of the federal securities laws.  Forward-looking statements involve risks and
 uncertainties, including, but not limited to, continued acceptance of the
 Company's products and services in the marketplace, regulatory and competitive
 factors, new products and technological changes, the Company's dependence upon
 third-party suppliers, and other risks detailed from time to time in the
 Company's Form 10-KSB and other regularly filed reports.  The results of
 operations for the year ended December 31, 2000 are not necessarily indicative
 of the results that may be expected for any other future year end period.
 
 SOURCE  Global Med Technologies, Inc.