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We would like to highlight Zynex Inc. (OTCBB: ZYXI). The company engineers, manufactures, markets and sells its own design of electrotherapy medical devices in two distinct markets: standard digital electrotherapy products for pain relief and pain management; and the NeuroMoveTM 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 and chronic pain.
Shares of Zynex Inc. climbed 17% to $6 Friday afternoon after the company reported its second quarter financial results for 2008, posting triple-digit increases for the period ended June 30, 2008. Zynex engineers, manufactures, markets and sells its own design of electrotherapy medical devices, focusing on standard digital electrotherapy products for pain relief and pain management, as well as NeuroMove for stroke and spinal cord injury (SCI) rehabilitation.
Second-quarter revenues increased 235 percent to $5.04 million, up from $1.50 million in 2007; net income increased 427 percent to $1.85 million. Thomas Sandgaard, president and CEO of Zynex said the company expects increases in the upcoming quarters as well.
“We are excited to see our revenue and net income continue to grow significantly. We have also seen a solid increase in our order intake through the second quarter and early parts of the third quarter and we expect to report revenues from rental and patient supplies on those orders over the next several quarterly reports,” Sandgaard stated in the press release.
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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.
