First Half Revenues are Record High First Half and Q2 Revenues Rose
74% and 66%, Respectively Recurring Revenues Climb 20% DENVER, Aug.
13 /PRNewswire-FirstCall/ -- Global Med Technologies , Inc.
("Global Med" or the "Company") (OTC:GLOB) (BULLETIN BOARD: GLOB) ,
an international healthcare information technology company, today
reported its operating results for the three and six months ended
June 30, 2009. (Logo:
http://www.newscom.com/cgi-bin/prnh/20040226/GLOBALMEDLOGO) Global
Med's record revenues of $16.418 million for the first half of 2009
represent an increase of $6.980 million or 74% over the $9.438
million recorded for the first half of 2008. In the first half of
2009, operating income improved to $1.678 million from $958
thousand during the first half of last year. The Company's net
income for the first half of 2009 was $593 thousand, or $0.02 per
basic common share outstanding, versus $512 thousand, or $0.02 per
basic common share outstanding, for the first half of 2008. Global
Med's revenues of $8.059 million for the second quarter of 2009
represent an increase of $3.214 million or 66% over the $4.845
million recorded for the comparable 2008 period. In the second
quarter of 2009, operating income improved to $621 thousand from
$333 thousand during the comparable 2008 period. The Company's net
income for the second quarter of 2009 increased 79% to $272
thousand, or $0.01 per basic common share outstanding, from $152
thousand, or $0.01 per basic common share outstanding, for the
comparable 2008 period. While the Company's acquisitions of Inlog
and eDonor in 2008 were the primary drivers of revenue growth in
both the second quarter and half year results, the solid operating
performance of the Company's Wyndgate Division was the primary
driver of the improvement in operating income for both periods.
Global Med's cash flow from operations for the first half of 2009
was $3.891 million, a more than four-fold increase over the $887
thousand recorded for the first half of 2008. Recurring annual
maintenance revenues for the quarter were running at an annualized
rate of over $16.7 million. Based on the backlog as of June 30,
2009, the Company's annual recurring revenues, when all contracted
customer sites are implemented, will be nearly $18.0 million, an
increase of 20% over 2008. The Company's backlog of unrecognized
software license fees and implementation fees as of June 30, 2009
was approximately $8.8 million, an increase of 59% over 2008.
Second Quarter 2009 Business Developments and Announcements: --
Mid-year 2009 KLAS survey scores placed Global Med's Wyndgate
division first in its class for its blood donor center and hospital
transfusion software. -- During the quarter, the Company announced
the licensing of its SafeTraceTx software to a 40 hospital
healthcare organization in the Southeast. -- The Company completed
a three-year contract extension with a significant channel partner.
-- Another major channel partner began selling the Company's eDonor
products and services, worldwide. -- Global Med continues to roll
out blood bank software solutions for CHS, signing multiple new
licenses and completing additional implementations during the
quarter. -- Global Med's Inlog subsidiary licensed its EdgeLab
laboratory information management software (marketed as "Labo
Serveur" in France) to the Eugene Andre Hospital near Lyon, France.
Mick Ruxin, M.D., Chairman and CEO of Global Med Technologies,
Inc., commenting on today's announcement stated, "The Company
continues to increase revenue and profits in spite of the difficult
economic climate. While the sales cycle has lengthened in the
United States, we are pleased with the strong sales bookings we are
achieving in Europe and elsewhere. We believe that our Inlog
acquisition has positioned us to benefit from the strong demand we
see overseas for our suite of innovative products. Our Wyndgate
division also performed well during the quarter where our focus on
productivity and efficiency yielded cost savings that flowed to the
bottom line." Thomas F. Marcinek, the Company's President and COO,
stated, "Global Med continues to execute on its business plan.
Although the sales climate is challenging in the U.S., we believe
we are on track to meet our annual sales objectives. Our customers
continue to validate our products and customer service which
translates into a strong and sustainable recurring revenue stream
and serves as a platform for new system sales as well." The Company
will host a conference call today at 11:00 a.m. Eastern. Mick
Ruxin, M.D., CEO, Tom Marcinek, President and COO, and Karen Davis,
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 U.S. should call:
1-866-394-9731. Callers that are outside of the U.S. should call:
1-706-643-7541. Callers should reference "Global Med Second Quarter
Financial Results" to the conference call operator. The conference
call ID number will be: 21830805. Internet access to the call will
be available on the Company's web site at
http://www.globalmedtech.com/. The webcast replay will be available
until Thursday, August 27, 2009. An automated replay of the
conference call will be available from Thursday, August 13, 2009 at
5:30 p.m. EDT until Monday, August 17, 2009 at 11:59 p.m. EDT. To
access the replay, callers within the U.S. should call:
1-800-642-1687. Callers outside of the U.S. should call:
1-706-645-9291 and enter Global Med's access code of 21830805. The
replay of the conference call will be available from August 17,
2009 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, 2009 and 2008: GLOBAL MED TECHNOLOGIES,
INC. (OTC:GLOB.OB) (BULLETIN BOARD: GLOB.OB) Selected Operating
Results (Unaudited) Three Months Ended June 30, In (000s) Except
Per Share Information 2009 2008 ---- ---- Revenues $8,059 $4,845
-------- ------ ------ Cost of revenues 3,167 1,860
---------------- ----- ----- Operating expenses 4,271 2,652
------------------ ----- ----- Income from operations 621 333
---------------------- --- --- Other income (expense), net (191) 8
--------------------------- ---- --- Income taxes (158) (189)
------------ ---- ---- Net income $272 $152 ---------- ---- ----
Income per share: Basic $0.01 $0.01 Diluted $0.01 $0.00 -------
----- ----- Weighted-average shares outstanding: Basic 34,346
27,948 Diluted 44,267 46,875 ------- ------ ------ Selected
Operating Results (Unaudited) Six Months Ended June 30, In (000s)
Except Per Share Information 2009 2008 ---- ---- Revenues $16,418
$9,438 -------- ------- ------ Cost of revenues 6,207 3,418
---------------- ----- ----- Operating expenses 8,533 5,062
------------------ ----- ----- Income from operations 1,678 958
---------------------- ----- --- Other income (expense), net (379)
38 --------------------------- ---- --- Income taxes (706) (484)
------------ ---- ---- Net income $593 $512 ---------- ---- ----
Income per share: Basic $0.02 $0.02 Diluted $0.01 $0.01 -------
----- ----- Weighted-average shares outstanding: Basic 34,218
27,442 Diluted 44,138 45,882 ------- ------ ------ GLOBAL MED
TECHNOLOGIES, INC. (OTC:GLOB.OB) (BULLETIN BOARD: GLOB.OB) Selected
Cash Flow Information (Unaudited) Six Months Ended June 30, In
(000s) 2009 2008 ---- ---- Cash flows provided by (used in):
---------------------------- Operations $3,891 $887 ----------
------ ---- Investing activities (304) (6,260) --------------------
---- ------ Financing activities (1,133) 6,790 --------------------
------ ----- Effect of exchange rates on cash 41 -
-------------------------------- --- --- Net increase (decrease) in
cash 2,495 1,417 ------------------------------- ----- ----- Cash,
beginning of period 4,472 6,748 ------------------------- -----
----- Cash, end of period $6,967 $8,165 ------------------- ------
------ Selected Balance Sheet Information (Unaudited) June 30, In
(000s) 2009 2008 ---- ---- Cash, cash equivalents and marketable
securities $7,275 $4,660 -------------------------- ------ ------
Other current assets 7,073 9,566 -------------------- ----- -----
Current assets 14,348 14,226 -------------- ------ ------ PP&E
1,315 1,385 ---- ----- ----- Intangible assets 13,905 14,081
----------------- ------ ------ Other long-term assets 113 92
---------------------- --- --- Total assets $29,681 $29,784
------------ ------- ------- Accounts payable, accrued expenses and
other current liabilities $7,040 $6,759
---------------------------------- ------ ------ Deferred revenue
6,013 6,361 ---------------- ----- ----- Current portion of
long-term debt 2,323 2,335 --------------------------------- -----
----- Total current liabilities 15,376 15,455
------------------------- ------ ------ Long-term debt 6,238 7,853
-------------- ----- ----- Other long-term liabilities 1,072 1,065
--------------------------- ----- ----- Total liabilities 22,686
24,373 ----------------- ------ ------ Total stockholders' equity
6,995 5,411 -------------------------- ----- ----- Total
liabilities and stockholders' equity $29,681 $29,784
--------------------- ------- ------- About Global Med Technologies
, Inc. Global Med Technologies, Inc. is an international healthcare
information technology company which develops regulated and
non-regulated products and services for the healthcare industry. As
a leading provider of blood and laboratory systems and services,
Global Med's products are deployed in 20 countries and serve over
2,100 transfusion centers, blood banks and laboratory sites. Global
Med's domestic companies are Wyndgate Technologies , a leader in
software products and services for donor centers and hospital
transfusion services; eDonor , which offers web-based donor
relationship management systems; and PeopleMed , Inc., which
implements cost-effective software validation, consulting and
compliance solutions to hospitals and donor centers. Global Med's
European subsidiary, Inlog, SA, is a leading developer of donor
center and transfusion management systems as well as cellular
therapy software, laboratory information systems and quality
assurance medical software systems internationally. For more
information about Global Med's products and services, please call
800-996-3428 or visit http://www.globalmedtech.com/. 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: Michael I. Ruxin, M.D., +1-303-238-2000, , or
investors, Karen Davis, CFO, +1-916-404-8400, , both of Global Med
Technologies, Inc. Web Site: http://www.globalmedtech.com/
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