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

ths ended September 30, 2012, compared to revenue of $16.55 million for the same period in 2011.  The increase in revenue is the result of improved performance in all areas of the Company's business, including sales of EECP® Therapy systems and its operations in China, as well as increased commission revenue from VasoHealthcare.  For the nine months ended September 30, 2012, the Company reported a net loss of $3.81 million compared to a net loss of $1.36 million for the same period in 2011.  The losses were principally due to an increase of costs related to an extension of the sales representation agreement with GE Healthcare, as well as increased sales and marketing costs for the Equipment segment.  The costs for the Equipment segment now includes SG&A costs of the recently acquired Chinese entities and one-time costs incurred for incentive compensation for certain key employees. For the nine months ended September 30, 2012, the Company had a net loss attributable to common stockholders of $3.81 million or $0.02 per common share, compared to a net loss applicable to common stockholders of $2.82 million or $0.02 per common share for the nine months ended September 30, 2011. 

The Company continues to record a substantial amount of deferred revenues, which will be recognized once the underlying equipment or service is accepted by the customer or performed by the Company.  As of September 30, 2012, total deferred revenues were approximately $14.99 million, and the Company reported cash and cash equivalents of approximately $9.69 million.

About Vasomedical
Vasomedical, Inc. is a diversified medical technology company specializing in the manufacture and sale of medical devices and in the domestic sale of diagnostic imaging products.  The Company's main proprietary products are EECP® Therapy systems, the gold standard of ECP treatment. The Company operates through three wholly ow
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SOURCE Vasomedical, Inc.
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