Global Med Technologies(R), Inc. Reports Its Eighth Consecutive Quarter of Revenue Growth
July 27 2006 - 10:00AM
PR Newswire (US)
DENVER, July 27 /PRNewswire-FirstCall/ -- Global Med
Technologies(R), Inc. (OTC:GLOB) (BULLETIN BOARD: GLOB) has
reported its eighth consecutive quarter of revenue growth. The
Company's revenues increased to $3.014 million for the three months
ended June 30, 2006 from $2.854 million for the comparable quarter
in 2005. For the quarter ended June 30, 2006, the Company's
reported net income of $178 thousand and the Company's operations
generated $380 thousand in cash flows. Michael I. Ruxin, M.D.,
Chairman and CEO of Global Med Technologies, Inc., commenting on
the quarter's results, stated, "The Company continued its eighth
consecutive quarter of revenue growth and the Company has been
profitable in five of the last six quarters. Our cash flows from
operations continue to be robust with $380 thousand generated for
the quarter ended June 30, 2006 and $513 thousand for the six
months ended June 30, 2006. The Company continues to anticipate
revenue growth, profitability, and positive cash flows from
operations for 2006." Thomas F. Marcinek, the Company's President
and COO, stated, "Global Med's revenues continue to grow. The
Company's new system sales were much more robust in the second
quarter than in the first quarter. Our second quarter sales helped
to increase the Company's backlog of unrecognized software license
and implementation fees and will increase our recurring maintenance
revenue in future years." The following table provides information
related to the Company's operations for the three and six months
ended June 30, 2006 and 2005: Global Med Technologies, Inc.
(OTC:GLOB) (BULLETIN BOARD: GLOB) Selected Results Three Months
Ended June 30, In (000s) (Unaudited) 2006 2005 Revenues $3,014
$2,854 Cost of revenues and operating expenses $2,833 $2,534 Income
from operations $181 $320 Other income (expenses) $(3) $(7) Net
income $178 $313 Preferred dividends --- $(183) Net income
available to common shareholders $178 $130 Income per share Basic
$0.01 $0.00 Diluted $0.00 $0.00 Weighted average shares outstanding
Basic 23,212 27,705 Diluted 39,260 42,225 Selected Results Six
Months Ended June 30, In (000s) (Unaudited) 2006 2005 Revenues
$5,830 $5,429 Cost of revenues and operating expenses $5,591 $4,985
Income from operations $239 $444 Other income (expenses) * $718
$(14) Net income $957 $430 Preferred dividends --- $(330) Net
income available to common shareholders $957 $100 Income per share
Basic $0.04 $0.00 Diluted $0.02 $0.00 Weighted average shares
outstanding Basic 23,122 27,665 Diluted 40,531 42,372 *The Company
recognized $724 thousand in income related to the change in
estimated fair value of a derivative instrument during March of
2006. As of March 31, 2006, this derivative was no longer on the
Company's balance sheet. About Global Med Technologies, 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 being used in Canada and sub-Saharan Africa, and are being
implemented in the Caribbean. Together, the SafeTrace Tx**(R)
advanced transfusion management system and the SafeTrace(R) donor
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-KSB and other
regularly filed reports. The results of operations for the quarter
ended June 30, 2006 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 Web site:
http://www.globalmedtech.com/
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