New Mexico Software, Inc. (NMXC.OB) 2nd Quarter Revenue Rises 345%; Six Month Revenue Up 318%

QualityStocks would like to highlight New Mexico Software, Inc. (OTCBB: NMXC). The company develops and provides medical IT services and solutions that enable improved and faster communication within the preventative, comprehensive and critical healthcare segments. New Mexico Software also provides software and hardware that streamlines administrative processes for a more efficient working environment.

In the company’s news yesterday,

New Mexico Software, Inc. announced its financial results for the second quarter ended June 30, 2009.

Second Quarter 2009 Financial Highlights Include:

– Total revenue increased 345% to $902,000 from $202,000 in Q2 2008

– Six month revenue rose 318% to $1,828,000 from $437,000 in the first half of 2008

– Cash and cash equivalents totaled $65,000, a decrease from $103,000 as of March 31, 2009

– Gross profit increased 259% to $226,000 from $63,000 in Q2 2008

– Net loss decreased to ($63,000) from ($172,000) a year ago

“Our key indicator of operating progress is gross revenue,” CEO Dick Govatski stated. “As we continue to grow our variable costs begin to constitute a greater percentage of our cost of sales, the gross profit percentage will vary more consistently with revenue making gross profit a more useful indicator of our progress. At the same time, we have maintained a strong focus on expenses and to help control costs we earlier eliminated six positions. Those savings of approximately $75,000 per quarter will be more strongly reflected in the third quarter. We faced a legal challenge in the quarter, which we hope will be resolved in our favor in the near future.”

“We believe we can continue to take advantage of the growth in the telemedicine market in general and the teleradiology market in particular during the next few years,” Govatski added. “In the meantime, our primary goal is still focused on keeping the momentum going forward with the goal of becoming profitable by the end of the year.”

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Forward-Looking Statement:

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.