DENVER, Oct. 30 /PRNewswire-FirstCall/ -- Global Med Technologies(R), Inc. (OTC:GLOB) (BULLETIN BOARD: GLOB) has reported cash flows from operations of over $1 million for the nine months ended September 30, 2006, and its ninth consecutive quarter of comparable quarter to comparable quarter revenue growth. The Company's revenues increased to $2.854 million for the three months ended September 30, 2006 from $2.660 million for the comparable quarter in 2006. For the quarter ended September 30, 2006, the Company's reported net income of $60 thousand and the Company's operations generated $496 thousand in cash flows. (Logo: http://www.newscom.com/cgi-bin/prnh/20040226/GLOBALMEDLOGO) Michael I. Ruxin, M.D., Chairman and CEO of Global Med Technologies, Inc., commenting on the quarter's results, stated, "The Company completed its ninth consecutive quarter of revenue growth. The Company has been profitable in seven of the last eight quarters. Our cash flows from operations continue to be robust with $496 thousand generated for the quarter ended September 30, 2006 and $1.009 million for the nine months ended September 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 has committed significant resources to the development of new products as well as improving its existing products. The Company is nearing the completion of the development cycle of these new products, and the Company intends to bring these new products to market. We believe the introduction of these new products will help fuel and accelerate revenue growth." The following table provides information related to the Company's operations for the three and nine months ended September 30, 2006 and 2005: Global Med Technologies, Inc. (OTC:GLOB) (BULLETIN BOARD: GLOB) Selected Results Three Months Ended September 30, In (000s) Except Per Share Information (Unaudited) 2006 2005 Revenues* $2,854 $2,660 Cost of revenues and operating expenses $2,798 $2,607 Income from operations $56 $53 Other income (expenses) $4 $(10) Net income $60 $43 Preferred dividends --- $(185) Net income (loss) available to common shareholders $60 $(142) Income per share Basic $0.00 $0.00 Diluted $0.00 $0.00 Weighted average shares outstanding Basic 23,212 27,810 Diluted 37,604 27,810 Selected Results Nine Months Ended September 30, In (000s) Except Per Share Information (Unaudited) 2006 2005 Revenues* $8,684 $8,089 Cost of revenues and operating expenses $8,389 $7,592 Income from operations $295 $497 Other income (expenses)** $722 $(24) Net income $1,017 $473 Preferred dividends --- $(515) Net income (loss) available to common shareholders $1,017 $(42) Income per share Basic $0.04 $(0.00) Diluted $0.03 $(0.00) Weighted average shares outstanding Basic 23,152 27,714 Diluted 39,547 27,714 * The Company recognized $131 thousand in implementation and consulting services revenues during the three and nine months ended September 30, 2006 from services that were performed prior to January 1, 2006. These revenues represented the value of additional out-of-scope payments that were agreed to and made by one of the Company's marketing partners during the quarter ended September 30, 2006. ** 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. Each year, Wyndgate's products and services manage more than eight million blood components, representing over 27% of the U.S. blood supply. 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 September 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, Inc., +1-303-238-2000 Web site: http://www.globalmedtech.com/

Copyright