Zynex Medical Holdings Inc. (OTCBB: ZYNX), recently announced its sales for April had increased an amazing 322 percent over its figures for April 2006, its sales for March 2007 had increased 256 percent over March 2006, and that its first quarter sales reports for 2007 showed a 304 percent increase over its figures from the previous year.
According to some of its most recent press releases, Zynex received 641 orders in April 2007 – a sharp rise over the mere 152 sales it reported 12 months prior. In addition, the company received a total of 602 orders in March of 2007.
“Our continued increase in orders demonstrates a solid product acceptance, and a continued market penetration as a result of our adding experienced sales persons in the second half of 2006,” Thomas Sandgaard, Zynex’s CEO, said in a recent press release.
He also said the company is excited by the “strong order intake” the company was experiencing, and that the increased interest in its business “further solidifies our position in the market.”
Founded in 1966, Zynex has engineered, manufactured, and marketed its own design of electrotherapy medical devices, chiefly for pain relief and management techniques, and for stroke and spinal cord injury rehabilitation.
“We believe our products assist in improving the quality of life for patients suffering with impaired mobility from stroke or SCI, and those suffering from debilitating and chronic pain,” stated the company’s 10KSB filed in April.
Zynex has not yet finalized its results for the first and second quarters of 2007, including the impact of increased orders.
Prices for Zynex shares were up just under 12 percent today, up from 45 cents a share to 47 cents a share by noon. Net sales for 2006 were $2,556,809, an increase of 22 percent compared to 2005. Gross profit increased $271,201 over 2005, an increase of 13.7 percent. Gross profit as a percent of net sales and rental income was 88.1 percent in 2006 compared to 94.4 percent in 2005.
The company did not return calls requesting information about the future of the company’s products or for comments about their current sales figures.
For more information about the company, visit www.zynexmed.com.
