First Half and Q2 Revenues Rose 20.5% and 17.7%, Respectively*
DENVER, Aug. 12 /PRNewswire-FirstCall/ -- Global Med
Technologies(R), Inc. ("Global Med" or the "Company") (OTC:GLOB)
(BULLETIN BOARD: GLOB) , an international e-Health, medical
information technology company, today reported record revenues for
the three and six months ended June 30, 2008. (Logo:
http://www.newscom.com/cgi-bin/prnh/20040226/GLOBALMEDLOGO)
Highlighted by a strong series of events that included: a
multimillion dollar contract with Utah's largest healthcare
provider; a strategic alliance with Cerner Corporation, including a
contract with Egyptian Children's Cancer Hospital Foundation; a
national agreement with the American Red Cross to regionally
license Global Med software; an agreement with Siemens to license
software to California's famed Riverside County Regional Medical
Center serving the state's fourth largest population center;
similar agreements with St. Joseph's Healthcare System and
CentraState Healthcare System, both of New Jersey; all crowned by
the acquisition of its European counterpart, Inlog, SA with $11.1
million in revenues and EBITDA of $574 thousand -- extending Global
Med's total reach to over 1,500 sites across 20 countries. Global
Med's 2008 six month revenues* climbed from $7.69 million to $9.26
million, up $1.57 million or 20.5%, and second quarter revenues*
rose from $3.97 million in 2007 to $4.67 million, an increase of
$702,000 or 17.7%. Operating income* was $975,000 and $642,000 for
the first half 2008 and 2007, respectively, and $350,000 and
$346,000 for the quarter ended June 30, 2008 and 2007,
respectively. Net income* was $529,000 for the first half of 2008
and $169,000 for the quarter. All numbers are exclusive of Inlog,
which was acquired five days prior to the end of the second
quarter. Recurring annual maintenance revenues, exclusive of Inlog,
for the quarter were running at an annualized rate of over $8
million. Based on backlog as of June 30, 2008, the Company's annual
recurring revenues, when all contracted customer sites are
implemented, will be approximately $9.6 million, exclusive of
Inlog. Exclusive of Inlog, the Company's backlog of unrecognized
software license fees and implementation fees was approximately
$5.5 million. The second quarter's results marked the 16th
consecutive quarter of comparable quarter-to-quarter revenue growth
for the Company. On July 31, 2008, the Company acquired eDonor, a
web-based donor relationship management system that integrates
recruitment, scheduling, retention and fulfillment for national as
well as local community blood centers, for total consideration of
$5 million in cash and stock. The acquisition was executed in the
form of an asset purchase and is designed to complement Global
Med's strong line of international blood management and laboratory
information software and service solutions. Mick Ruxin, M.D.,
Chairman and CEO of Global Med Technologies, Inc., commenting on
the recent acquisitions and quarterly results, stated, "The
Company's acquisition of Inlog and eDonor will be transformative
events. While Global Med expects organic revenues to continue to
grow at double digit rates throughout the remainder of the year,
Inlog's and eDonor's revenues will substantially increase the
Company's overall revenues beginning in the third quarter of 2008.
The acquisition of Inlog has provided the Company with an avenue to
quickly enter the European market, and the Company has already
identified a number of cross-selling opportunities." Thomas F.
Marcinek, the Company's President and COO, stated, "Global Med
continues to execute on its business plan. The Company's
acquisition of Inlog will bring with it many opportunities for
continued growth. For example, Inlog's EdgeCell cellular therapy
software has applications for tissue banks and stem cell centers in
the United States." Mr. Marcinek continued, "The Company's revenues
are at record levels and our second quarter's annualized recurring
maintenance revenues were in excess of $8 million (exclusive of
Inlog's recurring revenues); this is nearly $1.4 million higher
than the comparable quarter of 2007. eDonor's product and service
offerings complement the Company's ElDorado Donor(TM) product." The
Company will host a conference call today at 4:30 p.m. EDT. Mick
Ruxin, M.D., Chief Executive Officer, Tom Marcinek, President and
Chief Operating Officer, and Darren Craig, Acting CFO, will discuss
the second quarter financial results and will be available to
answer questions. Interested parties are welcome to call the
following telephone numbers five minutes prior to the start of the
conference call. Callers within the US should call: 1-866-789-9224.
Callers that are outside of the US should call: 1-706-679-9621.
Callers should reference "Global Med Second Quarter Financial
Results" to the conference call operator. The conference call ID
number will be: 58996634. An automated replay of the conference
call will be available from August 12, 2008 at 5:30 p.m. EDT until
August 14, 2008 at 11:59 p.m. EDT. To access the replay, callers
within the US should call: 1-800-642-1687. Callers outside of the
US should call: 1-706-645-9291 and enter Global Med's access code
of 58996634. The replay of the conference call will be available
from August 14, 2008 onward at Global Med's website at
http://www.globalmedtech.com/. The following tables provide
information related to the Company's operations for the three and
six months ended June 30, 2008 and 2007 which excludes Inlog's
results for the acquisition period: GLOBAL MED TECHNOLOGIES, INC.
(OTC:GLOB.OB) (BULLETIN BOARD: GLOB.OB) (EXCLUDES INLOG)** Selected
Results Three Months Ended June 30, In (000s) Except Per Share
Information (Unaudited) 2008 2007 Revenues $4,671 $3,969 Cost of
revenues 1,768 1,255 Operating expenses 2,553 2,368 Income from
operations 350 346 Other income, (expenses)*** 8 106 Income (taxes)
benefit (189) 7 Net income $169 $459 Income per share Basic $0.01
$0.02 Diluted $0.00 $0.01 Weighted average shares outstanding Basic
27,948 23,294 Diluted 46,875 40,138 Cash flows provided by
Operations*** $436 $2,175 GLOBAL MED TECHNOLOGIES, INC.
(OTC:GLOB.OB) (BULLETIN BOARD: GLOB.OB) (EXCLUDES INLOG)** Selected
Results Six Months Ended June 30, In (000s) Except Per Share
Information (Unaudited) 2008 2007 Revenues $9,264 $7,688 Cost of
revenues 3,326 2,394 Operating expenses 4,963 4,652 Income from
operations 975 642 Other income, (expenses) and (taxes)*** 38 119
Income (taxes) benefit (484) (15) Net income $529 $746 Income per
share Basic $0.02 $0.02 Diluted $0.01 $0.01 Weighted average shares
outstanding Basic 27,442 23,294 Diluted 45,882 40,138 Cash flows
provided by Operations*** $1,303 $2,679 GLOBAL MED TECHNOLOGIES,
INC. CONSOLIDATED (OTC:GLOB.OB) (BULLETIN BOARD: GLOB.OB) (INCLUDES
INLOG) Selected Results June 30, 2008 In (000s) Except Per Share
Information (Unaudited) Three Six Months Months Revenues $4,845
$9,438 Cost of revenues 1,860 3,418 Operating expenses 2,652 5,062
Income from operations 333 958 Other income, (expenses) and (taxes)
8 38 Income (taxes) benefit (189) (484) Net income $152 $512 Income
per share Basic $0.01 $0.02 Diluted $0.00 $0.01 Weighted average
shares outstanding Basic 27,948 27,442 Diluted 46,875 45,882 Cash
flows provided by Operations $20 $887 About Global Med
Technologies, Inc. Global Med Technologies(R), Inc. is an
international medical software company which develops regulated and
non-regulated software products and services for the healthcare
industry. As a leading provider of blood and laboratory software
applications and services, Global Med's products are deployed in 20
countries and serve over 1,500 transfusion centers, blood banks and
laboratories. Global Med's U.S. division, Wyndgate Technologies(R),
provides Vein-to-Vein(R) tracking through its Donor Doc(TM),
SafeTrace(R), SafeTrace Tx(R) and ElDorado Donor(TM) software
products. Each year, Wyndgate's products and services manage more
than eight million blood components, representing over 27% of the
U.S. blood supply. Global Med's European subsidiary, Inlog, SA, is
a leading provider of donor center and transfusion management
systems as well as cellular therapy software, laboratory
information systems and quality assurance medical software systems
internationally. Inlog's products include EdgeBlood****,
EdgeTrack****, EdgeCell, EdgeLab and SAPA. Global Med's U.S.
division, eDonor(R), provides a web-based donor relationship
management system that integrates recruitment, scheduling,
retention and fulfillment for national as well as local community
blood centers and hospitals. eDonor's products and services are
designed to complement Global Med's strong line of international
blood management and laboratory information software and service
solutions. Global Med's U.S. subsidiary, PeopleMed(R), Inc.,
provides cost-effective customized software validation, consulting
and compliance solutions to hospitals and donor centers. For more
information about Global Med's products and services, please call
800-996-3428 or visit http://www.globalmedtech.com/,
http://www.peoplemed.com/, http://www.inlog.com/ and
http://www.wyndgate.com/. * Excludes Inlog's revenues of $174
thousand on a pro rata basis. Also excludes Inlog's cost of
revenues, operating expenses, other income (expenses), taxes, and
net income for the three and six months ended June 30, 2008. On a
consolidated basis, the Company's revenues increased $876 thousand
or 22.1% to $4.845 million or $1.750 million or 22.8% to $9.438
million for the three and six months ended 2008, respectively. **
Inlog's results for the five-day period ended June 30, 2008 have
been excluded from this analysis in order to provide the reader
with a mechanism for comparing the Company's organic results for
the three and six months ended June 30, 2008 with the historical
results for the comparable periods in 2007. The Company believes
this information is useful to readers to better enable them to
understand the Company's performance. The Company's cash balance of
$8.165 million includes Inlog's cash balance of $1.572 million as
of June 30, 2008. *** For the three and six months ended June 30,
2007, the Company recognized approximately $80 thousand in accrued
interest related to the return of a deposit in escrow of $1.004
million which increased the Company's cash flows from operations by
$1.084 million. **** FDA 510(k) clearance required prior to sales
in the U.S. This news release may include statements that
constitute forward-looking statements, usually containing the words
"believe," "estimate," "project," "expects" or similar expressions.
These statements are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements inherently involve risks and
uncertainties that could cause actual results to differ materially
from the forward-looking statements. By making these
forward-looking statements, the Company undertakes no obligation to
update these statements for revisions or changes after the date of
this news release.
http://www.newscom.com/cgi-bin/prnh/20040226/GLOBALMEDLOGO
http://photoarchive.ap.org/ DATASOURCE: Global Med Technologies,
Inc. CONTACT: Company, Michael I. Ruxin, M.D., of Global Med
Technologies, Inc., +1-303-238-2000, ; or Investors, Paul Holm,
President of portfolio pr, +1-212-888-4570, , for Global Med
Technologies, Inc. Web site: http://www.globalmedtech.com/
http://www.peoplemed.com/ http://www.inlog.com/
http://www.wyndgate.com/
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