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Vasomedical Announces Financial Results for the Third Quarter of 2012
Date:11/20/2012

WESTBURY, N.Y., Nov. 20, 2012 /PRNewswire/ -- Vasomedical, Inc. ("Vasomedical") (OTCQB: VASO) today reported its operating results for the three- and nine-month periods ended September 30, 2012.

"We reported another strong quarter of sales for our equipment segment in the third quarter.  However, changes to certain sales commission milestones for 2012 compared to 2011 have resulted in a third quarter year-over-year revenue comparison that is non-reflective of our actual performance.  As such, we believe that the comparison of our revenue for the nine-month periods ended September 30, 2012 and 2011 offers a more accurate representation of our sales growth.  For the nine months ended September 30, 2012, the Company reported a 17.6% increase in total revenue, compared to the same period last year," commented Dr. Jun Ma, President and Chief Executive Officer of Vasomedical, Inc.  "We will continue to pursue additional opportunities to expand our equipment segment and explore avenues to grow our sales representation business."

For the three months ended September 30, 2012, revenue decreased 12.4% to $5.72 million, compared to $6.53 million for the three months ended September 30, 2011, primarily due to a decrease in commission revenues from the Sales Representation segment, resulting from a retroactive commission rate increase that was effected in the second quarter of 2012 as opposed to the third quarter in 2011.  The Company had a net loss for the three months ended September 30, 2012 of $2.52 million, compared to a net income of $0.64 million for the same period in 2011.  Net loss attributable to common stockholders for the three months ended September 30, 2012 was $2.52 million or $0.02 per common share, compared to a net loss of $1.12 million or $0.01 per common share for the three months ended September 30, 2011. 

The Company reported an increase in revenue of 17.6% to $19.46 million for the nine mon
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SOURCE Vasomedical, Inc.
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