(Source: Business Wire)
Zynex, Inc. (OTCBB:ZYXI), a provider of pain management systems and electrotherapy products for medical patients with functional disability, reports its financial results for the second quarter of 2009. Revenue increased 43% to $4,346,588 and net income increased to $708,622 for the quarter.
Net rental and sales income for the quarter ended June 30, 2009 increased 43% to $4,346,588 compared with $3,040,460 during the same quarter of 2008. Gross profit for the three months ended June 30, 2009 was $3,569,944 or 82.1% of net revenue compared to 90.9% a year ago. Income from operations was $1,106,622, an increase of 62% compared to last year and net income increased 145% to $708,622. Net cash provided by operating activities was $588,257 for the six months ended June 30, 2009.
Thomas Sandgaard, President and CEO of Zynex, said: "We are excited to see our net revenue, net income and positive cash flow from operations continue to grow in 2009 compared to the same period in 2008.
