Zynex (ZYXI.OB) Announces Third Quarter 2016 Profit
11/11/2016 2:28:53 PM
LONE TREE, Colo., Nov. 10, 2016 /PRNewswire/ -- Zynex (OTCQB: ZYXI), an innovative medical technology company specializing in the manufacture and sale of non-invasive medical devices for pain management, stroke rehabilitation, neuro diagnostics, cardiac and blood volume monitoring, announced today its third quarter 2016 financial results.
President and CEO Commentary:
Thomas Sandgaard, CEO commented: "Revenue came in at $3.6 million, 36% above the third quarter last year. We reported a net income of $532,000, a significant improvement compared with the third quarter 2015 loss of $501,000. Year-to-date we experienced positive cash from operations of $1.2 which essentially allowed us to reduce the balance on our line of credit by a million dollars in the period.
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