SAN JUAN CAPISTRANO, Calif., Dec. 2 /PRNewswire-FirstCall/ -- Auxilio (BULLETIN BOARD: AUXO) , a provider of integration strategies and outsourced services for Image Management in Healthcare, today reported financial results for the third fiscal quarter ended September 30, 2004.
Revenues for the third quarter of fiscal year 2004 were $975,363, compared to $309,094 in the previous year’s third quarter.
As a result of the acquisition with The Mayo Group on April 1, 2004, the financial statements for the period ended September 30, 2004, are not comparable to the financial statements for the period ended September 30, 2003. The transaction in March 2004 in which the Company sold certain HCM tools to Workstream, Inc. completed the exit from the previous business model.
Net income for the third quarter of fiscal year 2004 was $49,115 or $0.00 per share, compared to a net loss of $948,713 or $0.04 per share for the third quarter of fiscal year 2003.
Revenues for the first nine months of fiscal year 2004 were $5,565,142, compared to $1,203,284 in the previous year’s first nine months. Net income for the first nine months of fiscal year 2004 was $1,152,099 or $0.09 per share, compared to net loss of $2,210,057 or $0.12 per share for the first nine months of fiscal year 2003.
Net income for both periods includes the gain from discontinued operations, pursuant to the Workstream transaction, and our exit from the previous business model.
“Revenue in Q3 was consistent with management’s expectation of the long sales cycle of the business model we acquired in April. Revenue included three months worth of monthly recurring revenue, as well as a moderate equipment transaction with an existing customer. The first six months of operations of Auxilio have been spent closing a major transaction in the second quarter with Huntington Memorial Hospital, learning the business model, hiring the right individuals, maintaining profitability and building our revenue pipeline,” stated Joe Flynn, Chairman & CEO of Auxilio, Inc.
Outlook
Pursuant to service level agreements currently in place with customers, the backlog for recurring monthly service and supply revenue is $11.4 million. This is the absolute amount of future reoccurring monthly service and supply revenue due to Auxilio.
The Company encourages all interested investors to join a conference call on which Company management will discuss fiscal year 2004 third quarter results and provide guidance for future expectations. The call is scheduled at 4:00 p.m. EST / 1:00 p.m. PST on December 2, 2004. The phone number for the call is 800-236-9788. A re-broadcast of the conference call will be available for two weeks at 800-839-0860 PIN 1282.
About Auxilio
Auxilio provides integration strategies and outsourced services for Image Management in Healthcare. The Company helps hospitals and health systems reduce expenses and create manageable, dependable image management infrastructures by managing their back-office processes. The process is initiated through a detailed proprietary TeqTrak(TM) analysis. TeqTrak(TM) is a financial analysis that is performed at the customer premises using a combination of proprietary processes and innovative web based technology for data collection and report generation. After TeqTrak(TM) and upon engagement, the Company capitates the cost of the entire Image Management process for the customer and places a highly trained resident team on site to manage the process. The Company is focused solely on the Healthcare industry.
For more information, see the Company’s website at http://www.auxilioinc.com/.
Except for historical information contained herein, the matters discussed in this press release are statements of a forward-looking nature that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, without limitation, the Company’s dependence on the timely delivery of equipment, that market conditions will allow revenue growth, that the sales force can sell of solution based offering, the effect of changing economic conditions, the Company’s ability to attract and retain key management and other personnel, and the other risks and uncertainties outlined in the Company’s filings with the Securities and Exchange Commission, including, but not limited to, the Company’s Annual Report on Form 10-K. The Company undertakes no obligation to update this forward-looking information.
This release was issued through Major Newswire (http://www.majornewswire.com/)
Auxilio
CONTACT: Jim Stapleton, CFO & Corporate Secretary of Auxilio, Inc.,+1-949-481-7550, ext. 207, or fax, +1-949-481-8875, jstapleton@auxilioinc.com
Web site: http://www.majornewswire.com/
Web site: http://www.auxilioinc.com/