Global Med Technologies(R), Inc. Reports Its Fifth Consecutive Quarter of Strong Double-Digit Revenue Growth With a 48.3% Increa
October 24 2005 - 2:24PM
PR Newswire (US)
DENVER, Oct. 24 /PRNewswire-FirstCall/ -- Global Med
Technologies(R), Inc. (OTC:GLOB) (BULLETIN BOARD: GLOB) ("Global
Med" or the "Company") reported its fifth consecutive quarter of
strong double-digit revenue growth with a 48.3% increase for the
three months ended September 30, 2005. The Company recorded
revenues of $2.660 million and net income of $43 thousand for the
three months ended September 30, 2005, an increase of 48.3% from
the $1.794 million in revenues recorded during the three months
ended September 30, 2004. During the three months ended September
30, 2004, the Company's net loss was $99 thousand. (Logo:
http://www.newscom.com/cgi-bin/prnh/20040226/GLOBALMEDLOGO ) The
Company's comparable quarter-to-quarter revenue growth rate has
been as follows ($000s): Revenues for Revenues for the the
Percentage Three Months Three Months Change Ended Ended 2003 2004
September 30, $1,279 $1,794 40.3% December 31, $1,417 $2,277 60.7%
2004 2005 March 31, $1,353 $2,575 90.3% June 30, $1,460 $2,854
95.5% September 30, $1,794 $2,660 48.3% Global Med's President and
COO, Thomas F. Marcinek, commenting on the results for the third
quarter stated, "The Company posted its fifth consecutive quarter
of double digit revenue growth, its fourth consecutive quarter of
net income, and our backlog of unrecognized software license fees
and implementation fees continues to remain strong at approximately
$5.1 million*." Michael I. Ruxin, M.D., Chairman and CEO of Global
Med Technologies, Inc., stated, "The Company continues to perform
according to plan. The Company's qualified pipeline of prospective
business also continues to grow. Our fourth quarter sales are
already encouraging. We continue to bring new customers on board,
and we anticipate continued strong double-digit annual growth
through the remainder of 2005." The following table provides
certain details related to the Company's operations for the three
and nine months ended September 30, 2005 and 2004: Global Med
Technologies, Inc. (OTC:GLOB) (BULLETIN BOARD: GLOB) Selected
Quarterly Results Three Months Ended In (000s) except per share
information (Unaudited) September 30, 2005 September 30, 2004
Revenues $2,660 $1,794 Cost of sales $892 $587 Operating expenses
$1,715 $1,298 Income (loss) from operations $53 $(91) Net income
(loss) $43 $(99) Preferred dividends, related party $(185) $(159)
Net income (loss) attributable to common shareholders $(142) $(258)
Net loss per common share Basic $(0.01) $(0.01) Diluted $(0.01)
$(0.01) Common shares outstanding Basic 27,810 26,116 Diluted
27,810 26,116 Global Med Technologies, Inc. (OTC:GLOB) (BULLETIN
BOARD: GLOB) Selected Quarterly Results Nine Months Ended In (000s)
except per share information (Unaudited) September 30, 2005
September 30, 2004 Revenues $8,089 $4,607 Cost of sales $2,403
$1,771 Operating expenses $5,189 $3,582 Income (loss) from
operations $497 $(746) Net income (loss) $473 $(919) Preferred
dividends, related party $(515) $(348) Net loss attributable to
Common shareholders $(42) $(1,267) Net loss per common share Basic
$(0.00) $(0.05) Diluted $(0.00) $(0.05) Common shares outstanding
Basic 27,714 25,433 Diluted 27,714 25,433 Cash flows provided by
(used in) operations $314 $(236) *Of the approximate $5.1 million
backlog, approximately $500 thousand relates to fees, for which
there is a variable component. About Global Med Technologies(R),
Inc. Global Med Technologies, Inc. is an international 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 information management systems to U.S. and international blood
centers and hospital transfusion centers. Current clients of
Wyndgate's products and services manage more than 3 million units
of blood, or over 22% of the U.S. blood supply, each year.
Wyndgate's products are also being implemented in Canada, the
Caribbean and sub-Saharan Africa. Together, the SafeTrace(R) donor
management system and the SafeTrace Tx(R)** advanced transfusion
management system provide Vein-to-Vein(R) tracking from donor
collection to patient transfusion. For more information about
Global Med's products and services, please call 800-WYNDGATE or
visit http://www.globalmedtech.com/, http://www.peoplemed.com/ and
http://www.wyndgate.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-K and other
regularly filed reports. The results of operations for the quarter
or year ended September 30, 2005 are not necessarily indicative of
the results that may be expected for any other future period.
**Patent Pending
http://www.newscom.com/cgi-bin/prnh/20040226/GLOBALMEDLOGO
http://photoarchive.ap.org/ DATASOURCE: Global Med Technologies,
Inc. CONTACT: Michael I. Ruxin, M.D., Chairman and CEO of Global
Med Technologies(R), Inc. +1-303-238-2000; or Investor Relations,
John Nesbett or Jordan Silverstein, both of The Investor Relations
Group, +1-212-825-3210, for Global Med Technologies, Inc. Web site:
http://www.globalmedtech.com/ http://www.peoplemed.com/
http://www.wyndgate.com/
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