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Vasomedical Announces Financial Results for the Fourth Quarter and Year Ended 2012
Date:4/1/2013

WESTBURY, N.Y., April 1, 2013 /PRNewswire/ -- Vasomedical, Inc. ("Vasomedical") (OTC BB: VASO) today reported its operating results for the three months and year ended December 31, 2012.

"This year we saw an increase in activity across each of our business segments, even though not everything was reflected in our total revenue for 2012, which declined by 6% compared to 2011," commented Dr. Jun Ma , President and Chief Executive Officer of Vasomedical, Inc. "The decline in revenue for 2012 is due to the lower commission rate earned by our VasoHealthcare unit as a result of the aggressive sales performance target set earlier in the year. We believe the sales target was aggressive given it was approximately 16% higher than the 2011 target and approximately 10% higher than 2011 actual performance, and on the other hand we saw in 2012 a relatively flat market for diagnostic imaging products, year-over-year. We believe the performance target for 2013 is more in line with current market conditions and our sales team's historical results, putting us in a position to achieve strong revenue growth in 2013."

"Revenue from our equipment segment grew 34% for the full year of 2012, compared to 2011. This was a direct result of the increased sales achieved from our Biox subsidiary, coupled with growth in international EECP® sales. As most of this growth was organic, we plan to expand distribution, sales and marketing for each area of our equipment segment in order to build on this momentum." 

"Upon execution of our growth strategy, we expect to improve upon all fronts of our business and return to profitability.  This strategy includes expanding on the domestic and international sales and marketing efforts for our EECP solutions and investing in further growth of our China operations. We will also seek out opportunities for partnerships and acq
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SOURCE Vasomedical, Inc.
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