Zynex Reports Revenue and Profit in Third Quarter, 2009

  Third Quarter Ended September 30 3 Months       9 Months   2009         2008   2009         2008 Net Sales and Rental Income $ 4,690,715 $ 2,198,738 $ 13,269,637 $ 7,827,919 Net Income (Loss) $ 458,640 $ (366,419 ) ...
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ZYNEX INC Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following information should be read in conjunction with the Company's condensed consolidated financial statements and related footnotes contained in this report which have been prepared assuming that we will continue as a going concern, and in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2008. As discussed and presented in the Form 10-K for the year ended December 31, 2008, we restated the unaudited interim financial statements as of and for the three and nine months ended September 30, 2008. Results of Operations Net Revenue. Net revenue is comprised of net rental and sales of products and consumable supplies revenue. Net revenue for the three and nine months ended September 30, 2009 was $4,690,715 and $13,269,637 an increase of $2,491,977 or 113% and $5,441,718 or 70% compared to $2,198,738 and $7,827,919 for the three and nine months ended September 30, 2008. The increase in net revenue for the three and nine months ended September 30, 2009, compared to the three and nine months ended September 30, 2008 was due primarily to the Provider Settlement in 2008, which is explained in Note 9 to the Condensed Consolidated Financial Statements in this Report, and a greater number of products in use during the periods ended September 30, 2009. Products in use create monthly rental revenue and sales of consumable supplies for those products. The increase in the number of products in use resulted from increased prescriptions (orders) in the current as well as prior periods. The increased orders resulted from the expansion of the experienced sales force from 2007 through 2009 and greater awareness of the Company's products by end users and physicians. Net revenue by quarter were as follows: Our revenue is reported net, after deductions for uncollectible accounts receivable and estimated insurance company reimbur...
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ZYNEX INC Files SEC form 8-K, Other Events, Financial Statements and Exhibits

Show all filings for ZYNEX INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for ZYNEX INC 13-Nov-2009Other Events, Financial Statements and Exhibits Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not in...
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Zynex Signs Lease to Move into Larger Building

LITTLETON, Colo.--(BUSINESS WIRE)--Zynex, Inc. (OTCBB:ZYXI - News), a provider of pain management systems and electrotherapy products for medical patients with functional disability, announces it has signed a lease to rent a 75,000-square-foot building in Lone Tree (Littleton), Colorado. Zynex currently leases 16,553 square feet in Littleton, Colorado and the new building will house its headquarters, office, plant and warehouse. Thomas Sandgaard, CEO of Zynex comments: "This is an exciting time for Zynex. The move to our new headquarters comes at a time where we have recently paid down our Line of Credit entirely and placed advertising to add 25 more sales representatives in major cities across the country. We had already outgrown the current space and will have room to grow in the new building for several years.”About Zynex(TM) for stroke and spinal cord injury (SCI) rehabilitation. Zynex's product lines are fully developed, FDA-cleared, commercially sold, an have been developed to uphold the Company's mission of improving the quality of life for patients suffering from impaired mobility due to stroke, spinal cord injury, or debilitating and chronic pain.Safe Harbor StatementCertain statements in this release are "forward-looking" and as such are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in s...
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ZYNEX Obtains Medicare Accreditation

LITTLETON, Colo.--(BUSINESS WIRE)--Zynex, Inc. (OTCBB:ZYXI), a provider of pain management systems and electrotherapy products for medical patients with functional disability, announces it has obtained accreditation as a Medicare DMEPOS (Durable Medical Equipment, Prosthetics, Orthotics, and Supplies) supplier, as required to maintain its status as provider to Medicare and several private health insurance companies. The accreditation was performed by the Compliance Team, one of ten organizations certified to audit and accredit durable medical equipment providers in the US. Thomas Sandgaard, CEO of Zynex explains: ”It was very important to us to obtain this accreditation before the September 30 deadline. Not only do we maintain our status of being a provider to Medicare, but our customers know that we have met the high standards and procedures which are required for accreditation. Other providers that are not able to comply with these standards will be excluded from being a provider to Medicare and several private health insurance companies in the future."About Zynex(TM) for stroke and spinal cord injury (SCI) rehabilitation. Zynex's product lines are fully developed, FDA-cleared, commercially sold, an have been developed to uphold the Company's mission of improving the quality of life for ...
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ZYNEX: Expiration of Warrants and Options

LITTLETON, Colo.--(BUSINESS WIRE)--Zynex, Inc. (OTCBB:ZYXI), a provider of pain management systems and electrotherapy products for medical patients with functional disability, announces that warrants and options to purchase more than 1.5 million shares of the Company's common stock have recently expired. On June 28, 2009 Zynex had certain warrants issued in 2004 to purchase 236,191 shares of common stock issued expire. On September 26, 2009 Zynex had stock options issued in 2004 to purchase a total of 1.2 million shares of common stock expire. Earlier this year warrants to purchase a total of 120,000 shares of common stock from three individual warrantholders also expired.Thomas Sandgaard, CEO, commented: "The recently expired options and warrants represent approximately 15% of today's float. We believe the expiration of options and warrants is valuable to shareholders because it reduces the potential dilution to shareholders had these options and warrants been exercised."About Zynex(TM) for stroke and spinal cord injury (SCI) rehabilitation. Zynex's product lines are fully developed, FDA-cleared, commercially sold, and have been developed to uphold the Company's mission of improving the quality of life for patients suffering from impaired mobility due to stroke, spinal cord injury, or debilitating an...
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Zynex, Inc. CEO Interview: Thomas Sandgaard

67 WALL STREET, New York - September 22, 2009 - The Wall Street Transcript has just published its Medical Devices Report offering a timely review of the sector to serious investors and industry executives. This 41 page feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online. Topics covered: Developments in the Industry -- New Devices -- Negative Price Pressure -- Inject Mix -- Hospital Capital Spending Behavior -- Growth -- Rate of Growth Reliability -- Execution of Management -- Clinical Trials -- The Next Big Thing -- Innovation -- Acquisition -- Loss -- Major Turnarounds -- Productive Work Force -- Medication Adherence -- Undervaluation -- Improvement in Earnings -- Price Sensitivity -- Weakening Dollar -- Winning Market Share -- Significant Share Gains -- Profitability -- Regulatory Standard -- Opportunities -- Licensing Opportunities -- Collective Experience -- Drug Approvals -- Growth in Revenue -- Measuring Success -- Profit Margins Companies include: Medtronic (MDT); Boston Scientific (BSX); Greatbatch (GB); Vascular Solutions (VASC); AngioDynamics (ANGO); St. Jude Medical (STJ); Edwards Lifesciences (EW); Stryker (SYK); Zimmer Holdings (ZMH); Abbott Laboratories (ABT); Johnson and Johnson (JNJ); Baxter International (BAX); Thoratec (THOR); HeartWare (HTWR); Hill-Rom Holdings (HRC); Accuray (ARAY); Smith and Nephew (SN.L); Wright Medical (WMGI); NuVasive (NUVA); TranS1 (TSON); Becton, Dickinson (BDX); C.R. Bard (BCR); Covidien (COV); ...
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ZYNEX INC Files SEC form 8-K, Other Events, Financial Statements and Exhibits

Show all filings for ZYNEX INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for ZYNEX INC 21-Sep-2009Other Events, Financial Statements and Exhibits Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not in...
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ZYNEX INC Financials

PERIOD ENDING30-Jun-0931-Mar-0930-Sep-0830-Jun-08Total Revenue4,347  4,232  3,503  5,048  Cost of Revenue777  483  454  335  Gross Profit3,570  3,750  3,049  4,713  Operating ExpensesResearch Development -   -   -   -  Selling General and Administrative2,463  2,414  2,636  2,092  Non Recurring -   -   -   -  Others -   -   -  (72)Total Operating Expenses -   -   -   -  Operating Income or Loss1,107  1,336  413  2,693  Income from Continuing OperationsTotal Other Income/Expenses Net68  130  5  27  Earnings Before Interest And Taxes1,656  985  418  2,720  Interest Expense40  34  7  8  Income Before Tax1,616  951  411  2,712  Income Tax Expense426  481  205  860  Minority Interest -   -   -   -  Net Income From Continuing Ops709  951  206  1,852  Non-recurring EventsDiscontinued Operations -   -   -   -  Extraordinary Items -   -   -   -  Effect Of Accounting Changes - ...
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ZYNEX INC Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following information should be read in conjunction with the Company's condensed consolidated financial statements and related footnotes contained in this report which have been prepared assuming that we will continue as a going concern, and in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2008. As discussed and presented in the Form 10-K for the year ended December 31, 2008, we restated the unaudited interim financial statements as of and for the three and six months ended June 30, 2008. Results of Operations Net Revenue. Net revenue is comprised of net rental and sales of products and consumable supplies revenue. Net revenue for the three and six months ended June 30, 2009 was $4,346,588 and $8,578,922 an increase of $1,306,128 or 43% and $2,949,742 or 52% compared to $3,040,460 and $5,629,180 for the three and six months ended June 30, 2008 as previously restated. The increase in net revenue for the three and six months ended June 30, 2009, compared to the three and six months ended June 30, 2008 was due primarily to a greater number of products in use during the periods ended June 30, 2009. Products in use create monthly rental revenue and sales of consumable supplies for those products. The increase in the number of products in use resulted from increased prescriptions (orders) in the current as well as prior periods. The increased orders resulted from the expansion of the experienced sales force from 2007 through 2009 and greater awareness of the Company's products by end users and physicians. Net revenue by quarter were as follows: Our revenue is reported net, after deductions for uncollectible accounts receivable and estimated insurance company reimbursement deductions. The deductions are known throughout the health care industry as "contractual adjustments" and describe the process whe...
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