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Vasomedical Recorded 33% Year-over-year Growth in Revenue for the Third Quarter of 2013
Date:11/14/2013

WESTBURY, N.Y., Nov. 14, 2013 /PRNewswire/ -- Vasomedical, Inc. ("Vasomedical") (OTC BB: VASO) today reported its operating results for the three months ended September 30, 2013.

"We are pleased to report that during the third quarter of 2013 the Company recorded significant growth in both the Equipment segment and the Sales Representation segment.  Total equipment sales were particularly impressive, with an increase of 97% compared to the same period last year, as we experienced a spike in sales of our EECP® equipment in certain international markets as well as the steady sales growth from our Biox subsidiary," stated Dr. Jun Ma, President and Chief Executive Officer of Vasomedical, Inc. "The excellent performance and continued growth of Biox not only benefits the Company financially, it also provides us with a successful track record in China, paving the way for us to pursue additional acquisition and partnership opportunities there.""We continue to see strong results from our sales representation segment.  Given the overall strength of our team, we believe our independent sales channel model can be successfully expanded or replicated with other OEMs in different markets," concluded Dr. Ma.

Three Months Ended September 30, 2013 Financial ResultsFor the three months ended September 30, 2013, revenue increased 33% to $7.6 million from $5.7 million for the same period of 2012. This is attributable to a 97% increase in our equipment sales revenue to $1.4 million, as a result of a higher EECP® sales volume and continued growth from our Biox subsidiary in China. Our Sales Representation business also had significant improvement, with commission revenue increasing 26% to $5.9 million compared to $4.7 million in the third quarter 2012.

Gross profit for the third quarter of 2013 increased 28% to $
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SOURCE Vasomedical, Inc.
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