Business Services Industry
Omni Medical Holdings Records 49% Increase in Revenue Growth
Business Wire, July 18, 2005
RAPID CITY, S.D. -- Omni Medical Holdings Inc. (OTCBB:ONMH) provides a turn key back office suite of products and services to healthcare practitioners and facilities throughout the United States, today announced financial results for the year ended March 31, 2005 that included a 49% increase in revenues to $1,755,986.
Omni Medical CEO Arthur Lyons commented on the company's recent 10K filing:
"Year ending March 2005 showed dramatic improvement in many areas for Omni Medical, beginning with a 49% increase in revenue growth. While it's true that expenses grew at a 46% rate and cost of sales increased 53%, that is to be expected at this stage in our corporate growth. Omni is building an IT and administrative infrastructure that will support its rapid growth for many years.
"We also experienced a significant increase in shareholder's equity, from about $200,000 last year to over $1.8 million this year. This was due principally to the acquisition of DataFuzion, which has already shown itself as an excellent addition to the company.
"There are other less noticeable, but important indicators of our growth last year. Full time employees now number 75 versus 25 last year, our 238 customers make us more diversified than ever, and 413 shareholders, not including those domiciled at brokerage firms, show greater investor confidence than ever before.
"Keep in mind that our 10K does not yet reflect financially the Plum Creek acquisition and Stat Anesthesia services agreement signed in April. This means our shareholders can look for continued increases in revenue, cash flow and equity through calendar year end as the full financial impact of that transaction takes effect. Recently signed new accounts will also increase our margins and validate the expenditures for existing infrastructure. Omni is now projecting positive cash flow by calendar year end and perhaps as early as the September 30 quarter end."
Investors are asked to visit http://www.agoracom.com/IR/OmniMedical and can e-mail correspondence to onmh@agoracom.com. Investors can also request to receive all future e-mail press releases and correspondence directly.
Omni Medical Holdings Inc. (ONMH:OTCBB) provides medical billing, transcription and a full range of information technology products to medical practitioners throughout the United States. For more information, please visit www.omnimedical.com and www.datafuzion.com.
This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We use words such as "anticipate," "believe," "expect," "future," "intend," "plan," and similar expressions to identify forward-looking statements. Forward-looking statements include, without limitation, our ability to increase income streams, to grow revenue and earnings, and to obtain additional cord blood banking revenue streams. These statements are only predictions and are subject to certain risks, uncertainties and assumptions, which are identified and described in the Company's public filings with the Securities and Exchange Commission.
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