BioMedical Technology Solutions Holdings, Inc. First Quarter Net Revenue Increases 157%
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ENGLEWOOD, CO, May 19 (MARKET WIRE) --
BioMedical Technology Solutions Holdings, Inc. (OTCBB: BMTL) today
announced financial results for its first quarter ended March 31, 2009.
First quarter net revenue increased 157% to $359,305 versus net revenue of
$139,654 in the first quarter last year. The increase reflects the success
of the Company's new sales and marketing division, HealthCare Sales
Professionals, Inc. ("HCSP") that was launched in January 2009.
BioMedical Technology Solutions Holdings, Inc. reported first quarter
operating loss of $324,341 versus an operating loss of $329,161 in the
first quarter a year ago. The Company reported a first quarter net loss
attributable to common shareholders of $327,866, or $0.01 per diluted
share, versus a net loss attributable to common shareholders of $333,963,
or $0.01 per diluted share, in the first quarter last year.
Don Cox, President and CEO, said, "We are very pleased with our top line
growth. The 157% increase in 2009 Q1 over 2008 Q1, and a 7% revenue growth
quarter over quarter from 2008 Q4 to 2009 Q1 are just the results that we
were looking for."
Cox added, "When we developed HCSP as our sales and marketing division, we
felt confident in the model. Seeing the results validates that we are
moving in the right direction. Having our vision and hard work come to
fruition is a great feeling and we look forward to the future."
About BioMedical Technology Solutions Holdings, Inc.
BioMedical Technology Solutions Holdings, Inc., located in Englewood,
Colorado, sells the Demolizer(R) II through its wholly owned subsidiary
HealthCare Sales Professionals, Inc. BMTS' patented Demolizer(R)
technology converts infectious biomedical waste treatment solutions for
the over 1,000,000 low to medium volume medical waste generators in the
U.S. and a global market five times larger than the U.S. For more
information, please visit www.bmtscorp.com or call 866-525-2687.
About the Demolizer(R) II
The Demolizer(R) II is the Green alternative to biomedical waste disposal.
The device is the only patented, portable, and self-contained system able
to process both sharps and typical red bag biomedical waste onsite. The
processed waste is rendered sterile and discarded as common trash,
eliminating up to 100% of the cost associated with its disposal. The
Demolizer(R) II meets or exceeds all EPA and CDC guidelines and is
approved or meets treatment requirements in 47 states after review by 78
government agencies. The device uses no chemicals or liquids, plugs into
a standard outlet through a surge protector, and automatically records
and prints state required documentation. The Demolizer(R) II provides a
safer, more environmentally GREEN method for biomedical waste disposal.
Safe Harbor Statement for Forward-Looking Statements
The statements contained in this press release may include certain
projections and forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended and Section 21E of the
Securities Act of 1934, as amended. Such statements involve a number of
risks and uncertainties. Such statements reflect the Company's current
views with respect to future events and financial performance. No
assurances can be given however, that these events will occur or that such
expectations will be achieved and that actual results could differ
materially from those described. Actual results of future operations of
BioMedical Technology Solutions Holdings, Inc., may differ materially from
those indicated by these forward-looking statements as a result of various
important factors.
For more information:
BioMedical Technology Solutions Holdings, Inc.
866-525-2687
www.bmtscorp.com
BIOMEDICAL TECHNOLOGY SOLUTIONS HOLDINGS, INC.
Consolidated Statements of Operations
Quarter ended March 31, 2009 and 2008
March 31
2009 2008
----------- -----------
(unaudited) (unaudited)
Net sales $ 359,305 $ 139,654
Cost of sales 142,375 52,256
----------- -----------
Gross profit 216,930 87,398
Other costs and expenses:
Selling, general and administrative 470,706 399,457
Research and development expenses 70,565 17,102
----------- -----------
Total operating expenses 541,271 416,559
----------- -----------
Loss before non-operating income and expense
and income taxes (324,341) (329,161)
Other income and (expense):
Non-operating income - -
Other Income 6,376 177
Interest expense (9,901) (4,979)
----------- -----------
(3,525) (4,802)
----------- -----------
Net loss before income taxes (327,866) (333,963)
Income tax provision - -
----------- -----------
Net loss $ (327,866) $ (333,963)
=========== ===========
Basic and diluted loss per share $ (0.01) $ (0.01)
=========== ===========
Weighted average common shares outstanding 27,702,181 25,935,552
=========== ===========
CONTACTS:
David A. Kempf
CFO/COO
BioMedical Technology Solutions Holdings, Inc.
303-653-0100
Copyright 2009, Market Wire, All rights reserved.
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