Business News

AUXILIO Reports Third Quarter 2012 Financial Results

Friday 16. November 2012 - AUXILIO, Inc. (OTCBB: AUXO), the nation's pioneer and leading Managed Print Services (MPS) company for health care, announced its financial results for the quarter ended September 30, 2012.

“As a result of substantial growth in new customer accounts since January 2012, which we have projected will exceed $50 million in new revenue for the company, along with expeditiously completing the simultaneous implementation of our Managed Print Services program in 15 new customer hospitals during the third quarter, we expect to reach cash flow positive from operations during 2013,” stated Joseph J. Flynn, president and CEO of AUXILIO, Inc. “Furthermore, our company’s ability to respond quickly and successfully to the execution of our program in large multi-hospital systems provides immediate savings in print-related expenses for our customers that are facing significant financial constraints due to the changing environment in healthcare; and likewise results in what we expect to be a shorter period of time to reach our targeted profit margins with new accounts. Over a 12 month period, we will have implemented our print services program in over 30 new hospitals and hundreds of their affiliated entities; grown our hospital portfolio by over 50% and now manage the process and production of over 1.5 billion documents per year for more than 250,000 caregivers, physicians and health care employees across the country.”
Financial Results
For the three months ended September 30, 2012, the company reported net revenue of $8.8 million, an increase of 31% when compared to $6.7 million in the same period of 2011. Gross profit for the third quarter of 2012 was $1.4 million, or 15% of sales, compared to $1.3 million, or 19% of sales in the third quarter of 2011. Operating expenses were $1.7 million for the third quarter of 2012, or 19% of sales, compared to $1.3 million, or 19% of sales, in the same quarter of 2011. Net loss for the quarter was $660,000, or $0.03 per share, compared to a net loss of $47,000, or $0.00 per share, in the third quarter of 2011.
For the nine months ended September 30, 2012, the company reported net revenue of $25.9 million, an increase of 60% when compared to $16.2 million in the same period of 2011. Gross profit for the nine months ended September 30, 2012 was $3.1 million, or 12% of sales, compared to $2.4 million, or 15% of sales for the same period in 2011. Operating expenses were $4.8 million for the nine months ended September 30, 2012, or 19% of sales, compared to $3.8 million, or 23% of sales, for the same period in 2011. Net loss for the nine months ended September 30, 2012 was $2.3 million, or $0.12 per share, compared to a net loss of $1.5 Million, or $0.08 per share, for the same period in 2011.