Zynex Announces Record Revenue and Profit
Friday August 15, 9:10 am ET

LITTLETON, Colo.--(BUSINESS WIRE)--Zynex, Inc. (OTCBB: ZYXI), a provider of pain management systems and electrotherapy products for medical patients with functional disability, reports its financial results for the second quarter of 2008. Revenue increased 235% to $5,047,635 and net income increased to $1,852,212 for the quarter.

Net rental and sales income for the quarter ended June 30, 2008 increased 235% to $5,047,635 compared with $1,505,207 during the same quarter of 2007. Gross profit for the three months ended June 30, 2008 was $4,769,423 or 94.5% of net revenue compared to 86.7% a year ago. Income from operations was $2,692,523, an increase of 364% compared to last year and net income increased 427% to $1,852,212.

Thomas Sandgaard, President and CEO of Zynex, said: “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.”

 

Consolidated Statement of Operations
		Second Quarter 2008 and 2007 Ended June 30,
		3 Months,				6 Months,
		2008		2007		2008		2007
Net Sales and rental Income		$5,047,635		$1,505,207		$8,788,663		$2,841,938
Net Income (loss)		$1,852,212		$351,548		$3,045,203		$583,229
Net Income Per Common Share Basic		$0.06		$0.01		$0.11		$0.02
Common Shares Used in Computing Per Share Amount-Basic		29,132,219		26,427,002		28,424,838		26,369,277
Net Income Per Common Share Diluted		$ 0.06		$0.01		$0.10		$0.02
Common Shares Used in Computing Per Share Amount-Diluted		30,277,702		27,823,336		29,976,696		27,250,434

 

Zynex Files Application to Become Listed on the American Stock Exchange
Tuesday August 12, 9:10 am ET

LITTLETON, Colo.--(BUSINESS WIRE)--Zynex, Inc. (OTCBB: ZYXI), a provider of pain management systems and electrotherapy products for medical patients with functional disability, announces it has yesterday filed its application to obtain a listing on the American Stock Exchange (AMEX).

Thomas Sandgaard, CEO, commented: “We believe it will be in the interest of all our shareholders to have the stock traded on a stock exchange, such as the AMEX. Such listing allows for the opportunity to attract the attention of more potential investors, analysts and brokers. There are brokers and bankers who have policies currently preventing them from dealing with a stock unless listed on a stock exchange such as the AMEX.”

Mr. Sandgaard added: “An AMEX listing involves various quantitative standards which we believe we currently satisfy. We are very proud that we have continued to improve our financial performance. Our stock closed at $4.63 per share on August 11, 2008, and we are implementing a number of corporate governance matters to comply with AMEX’s standards.”

Zynex has recently experienced a strong growth in orders, revenue and profit.

 

Zynex Announces Increased Orders in July
Tuesday August 5, 9:25 am ET

LITTLETON, Colo.--(BUSINESS WIRE)--Zynex, Inc. (OTCBB:ZYXI), a provider of pain management systems and electrotherapy products for medical patients with functional disability, announces an increase in its orders of 185% for July of 2008 compared to the same month last year.

Thomas Sandgaard, CEO, commented, "We are excited to see yet another all-time record for orders in a month, especially since July is traditionally a month where many physicians are taking time off for vacation.”  Zynex received 2,041 orders in July 2008 versus 715 orders twelve months ago and 1,930 orders in June 2008.

 

Zynex Medical Holdings, Inc. Announces Name Change to Zynex, Inc.
Tuesday July 8, 2:06 pm ET

LITTLETON, Colo.--(BUSINESS WIRE)--Zynex, Inc. (OTCBB: ZYXI), a provider of pain management systems and electrotherapy products for medical patients with functional disability, announces a name change from its old name of Zynex Medical Holdings, Inc. to the new name of Zynex, Inc., still a Nevada corporation. Zynex’s operations continue to be conducted in its wholly owned subsidiary, Zynex Medical, Inc., located in Littleton, Colorado. This new name is effective, for stock trading purposes, on July 8, 2008 and now trades under the symbol ZYXI.

Zynex CEO, Thomas Sandgaard, comments: “We have made this name change to make it less complicated to identify the company name. We recently announced our ambitions to become listed on the American Stock Exchange (AMEX) and are proud to announce that we, with the release of our first quarter results, now also qualify in terms of shareholder equity. We have recently traded over the minimum requirement of $2 per share as also required to satisfy quantitative eligibility standards for such listing. Corporate governance changes will also be needed. The AMEX determines whether a listing is acceptable after the eligibility standards are met.”

 

Zynex Announces Increased Orders in June

July 3, 2008 

Zynex Medical Holdings, Inc. ZYNX, a provider of pain management systems and electrotherapy products for medical patients with functional disability, announces an increase in its orders of 171% for June of 2008 compared to the same month last year.

Thomas Sandgaard, CEO, commented: "We are excited to see yet another all-time record for orders in a month”.   Zynex received 1,930 orders in June 2008 versus 713 orders twelve months ago and 1,731 orders in May 2008.

 

Zynex Announces Record Revenue and Profit
Wednesday May 21, 9:12 am ET

LITTLETON, Colo.--(BUSINESS WIRE)--Zynex Medical Holdings, Inc. (OTCBB:ZYNX), a provider of pain management systems and electrotherapy products for medical patients with functional disability, reports its financial results for the first quarter of 2008. Revenue increased 180% to $3,741,028 and a net income of $1,192,991 for the quarter.

Net sales and rental income for the quarter ended March 30, 2008 increased 180% to $3,741,028 compared with $1,336,731 during the same quarter of 2007. Gross profit for the three months ended March 31, 2007 was $3,341,213 or 89.3% of net revenue compared to 92.5% a year ago. Income from operations was $1,728,047 and net income increased 415% to $1,192,991.

Thomas Sandgaard, President and CEO of Zynex said, “We are very pleased to report continued increases in revenue and net income as a result of executing of our sales and marketing plan. Our products continue to be well received in the market.”

 

Consolidated Statement of Operations
First Quarter 2008 and 2007
3 Mos Ended March 30,
		2008		2007
Net Sales and rental Income		$3,741,028		$1,336,731
Net Income (loss)		$1,192,991		$231,681
Net Income Per Common Share Basic		$0.04		$0.02
Common Shares Used in Computing Per Share
Amount-Basic		27,717,457		26,310,991
Net Income Per Common Share Diluted		$0.04		$0.02
Common Shares Used in Computing Per Share
Amount-Diluted		29,332,966		27,399,773

 

 

 

Zynex Announces Increased Orders in April
Wednesday May 7, 9:15 am ET

LITTLETON, Colo.--(BUSINESS WIRE)--Zynex Medical Holdings, Inc. (OTCBB: ZYNX), a provider of pain management systems and electrotherapy products for medical patients with functional disability, announces an increase in its orders of 120% for April of 2008 compared to the same month last year.

Thomas Sandgaard, CEO, said: "We are pleased to see a significant increase of orders compared to the same periods of last year, and this April was one of our best months ever.”

Zynex received 1,408 orders in April 2008 versus 641 orders twelve months ago and 1,307 orders in March 2008. Zynex has not yet finalized its results for the first and second quarters of 2008, including the impact of increased orders. Zynex will state these results in Forms 10-Q for the two quarters.

 

Zynex Announces Record Revenue and Profit in 2007
Wednesday April 16, 9:20 am ET

LITTLETON, Colo.--(BUSINESS WIRE)--Zynex Medical Holdings, Inc. (OTCBB:ZYNX - News), a provider of pain management systems and electrotherapy products for medical patients with functional disability, announces a $2,131,350 profit in 2007.

Net sales and rental income for the twelve months ended December 31, 2007, were $8,048,252, an increase of $5,491,444 or 215% compared to $2,556,809 for 2006 and a profit of $2,131,350 versus a loss of $320,370 in the prior year.

Thomas Sandgaard, CEO, said: "We grew revenues over three times, a remarkable 215% in 2007, increased our gross profit margin from 88.1% to 90.9%, while at the same time our operating expenses only increased 71.7% and we managed to produce a strong operating profit of $3,162,332 and net income of $2,131,350. Primarily as a result of our sales force expansion our total orders increased 284% from 2,705 in 2006 to 10,383 in 2007. We are also pleased to see our growth in orders though 2007 continue into the early parts of 2008. Cash provided by operations during 2007 was $746,863.”

 

Consolidated Statement of Operations, Year Ended Dec. 31,
		2007			2006
Net Sales & Rental income	$	8,048,252		$	2,556,809
Net Income (Loss)	$	2,131,350		$	(320,370)
Net Profit per Common Share - Basic	$	.08		$	0.00
Net Profit per Common Share - Diluted	$	.07		$	0.00
Common Shares Used in Computing Per Share Amounts -
Basic		26,595,967			24,026,988
Diluted		28,455,447			24,026,988

 

 

Zynex Announces Increased Orders in March
Tuesday April 8, 9:10 am ET

LITTLETON, Colo.--(BUSINESS WIRE)--Zynex Medical Holdings, Inc. (OTCBB: ZYNX), a provider of pain management systems and electrotherapy products for medical patients with functional disability, announces an increase in its orders of 117% for March of 2008 compared to the same month last year.

Thomas Sandgaard, CEO, said: "We are pleased to see a significant increase of orders compared to the same periods of last year. This quarter alone our order intake was 143% higher than the first quarter of 2007.”

Zynex received 1,307 orders in March 2008 versus 602 orders twelve months ago and 1,634 orders in February 2008. Zynex has received 4,411 orders in the first quarter of 2008 versus 1,813 orders in the first quarter of 2007.

 

Zynex Obtains ISO-13485 Certification
Tuesday March 18, 9:20 am ET

LITTLETON, Colo.--(BUSINESS WIRE)--Zynex Medical Holdings, Inc. (OTCBB: ZYNX), a provider of pain management systems and electrotherapy products for medical patients with functional disability, has received it’s ISO13485 : 2003 certification for it’s compliance with international standards in quality assurance for design, development, manufacturing and distribution of medical devices.

Thomas Sandgaard, CEO, commented: "This certification is not only important as an assurance that we have the appropriate quality systems in place but also crucial to our efforts for international expansion as many countries around the world require this certification as part of their regulatory approval.”

Zynex was audited by Orion Registrar, a Colorado corporation authorized by the International Organization for Standardization (ISO).

 

Zynex Announces Increased Orders in February
Wednesday March 5, 9:19 am ET

LITTLETON, Colo.--(BUSINESS WIRE)--Zynex Medical Holdings, Inc. (OTCBB: ZYNX - News), a provider of pain management systems and electrotherapy products for medical patients with functional disability, announces an increase in its orders of 163% for February of 2008 compared to the same month last year.

Thomas Sandgaard, CEO, said, "We are excited to see another all-time record for our orders in February.”

Zynex received 1,634 orders in February 2008 versus 621 orders twelve months ago and 1,473 orders in January 2008.

 

Zynex Announces Its Plan To Become Listed on the American Stock Exchange.

February 27, 2008

Zynex Medical Holdings, Inc. ZYNX, a provider of pain management systems and electrotherapy products for medical patients with functional disability, announces its plan to obtain a listing on the American Stock Exchange (AMEX). Zynex hopes to meet the listing requirements of AMEX during 2008.

Thomas Sandgaard, CEO, commented: "We believe it will be in the interest of all our shareholders to have the stock traded on a stock exchange, such as the AMEX. Such listing allows for the opportunity to attract the attention of more potential investors, analysts and brokers. There are brokers and bankers who have policies currently preventing them from dealing with a stock unless listed on a stock exchange such as the AMEX.”

Mr. Sandgaard added: “An AMEX listing involves various standards, some of which we do not currently satisfy. We are proud that Zynex has strengthened its balance sheet and are hopeful that Zynex will meet one of the minimum stockholder equity requirements of AMEX as of December 31, 2007 or during the first half of 2008. Other examples of these standards are that Zynex stock must trade at or above the $2 per share and that Zynex will need to implement a number of corporate governance matters.”

Zynex has recently experienced a strong growth in orders, revenue and profit. Zynex has not yet finalized its results for the fourth quarter of 2007 and the 2007 year. Zynex will state these results in the Form 10-KSB for the 2007 full year. Zynex will keep the market informed of any filing of a listing application for its common stock.

Any final decision regarding Zynex’s filing of a listing application with AMEX will depend upon the circumstances which exist at the time that Zynex may meet the listing standards. These standards include matters which are affected by Zynex’s results of operations for the fourth quarter of 2007 and future quarters. AMEX may also exercise discretion in accepting any listing. Accordingly there is no assurance that a listing of Zynex common stock with the AMEX will be completed.

Zynex Announces Increased Orders in January

February 6, 2008 9:22 AM ET

Zynex Medical Holdings, Inc. ZYNX, a provider of pain management systems and electrotherapy products for medical patients with functional disability, announces an increase in its orders of 150% for January of 2008 compared to the same month last year.

Thomas Sandgaard, CEO, said: "We are excited to see an all-time record for our order intake in January."

Zynex received 1,473 orders in January 2008 versus 590 orders twelve months ago and 1,091 orders in December of 2007. Zynex has not yet finalized its results for the fourth quarter of 2007 and first quarter of 2008, including the impact of increased orders. Zynex will state these results in the Form 10-KSB for the 2007 full year and Form 10-Q for the first quarter of 2008.

Zynex Announces Increased Orders in December

January 8, 2008 9:20 AM ET

Zynex Medical Holdings, Inc. ZYNX, a provider of pain management systems and electrotherapy products for medical patients with functional disability, announces an increase in its orders of 238% for December of 2007 compared to the same month last year.

Thomas Sandgaard, CEO, said: "We grew a remarkable 37% from 3rd quarter to this 4th quarter in terms of total orders, 270% higher than 4th quarter of 2006. We engaged an additional six sales representatives during the fourth quarter of 2007 for a total of 51 outside sales representatives as of December 31, 2007. Based on the increases in our sales force during the last 36 months, increased production capacity in our new building and existing recurring rental revenue of our products, we have high hopes for a strong 2008."

Zynex received 1,091 orders in December 2007 versus 323 orders twelve months ago and 1,260 orders in November of 2007. Zynex has not yet finalized its results for the fourth quarter of 2007, including the impact of increased orders. Zynex will state these results in the Form 10-KSB for the 2007 full year.

Zynex Announces Increased Orders in November

December 5, 2007 9:24 AM ET

Zynex Medical Holdings, Inc. ZYNX, a provider of pain management systems and electrotherapy products for medical patients with functional disability, announces an increase in its orders of 245% for November of 2007 compared to the same month last year.

Thomas Sandgaard, CEO, said: "Even though we posted our second-best order intake so far, our production was slowed down by moving to new offices and not having enough products for our sales reps. The shorter month and the holidays also played a role and we hope to continue our growth in the coming months."

Zynex received 1,260 orders in November 2007 versus 365 orders twelve months ago and 1,452 orders in October of 2007. Zynex has not yet finalized its results for the fourth quarter of 2007, including the impact of increased orders. Zynex will state these results in the Form 10-KSB for the 2007 full year.

Zynex announces record revenue and profit.

November 20, 2007 

Zynex Medical Holdings, Inc. ZYNX, a provider of pain management systems and electrotherapy products for medical patients with functional disability, announces a 173% increase in revenue the first nine months of 2007 compared to the same period last year and a profit of $1,197,694 for the period.

Net sales and rental income for the three and nine months ended September 30, 2007, were $2,104,446 and  $4,946,384 an increase of $1,360,659 and $3,136,646 or 183% and 173% compared to $743,787 and $1,809,738 for the three and nine months ended September 30, 2006.

Income from operations was $856,144 for the quarter and $1,876,009 for the nine months respectively versus $34,087 and $(50,503) one year ago. Operations generated a cash flow of $437,602 during the first nine months of 2007 which was primarily used to acquire additional equipment. Gross profit margin increased to 92.5% for the quarter and 91.2% for the three quarters.

Selling, general and administrative expenses for the three and nine months ended September 30, 2007 were $1,045,087 and $2,529,281 an increase of $469,057 and $968,947 or 81.4% and 62.1%, compared to $576,030 and $1,560,334 for the same periods in 2006. As a result the net income after taxes was $614,465 for the third quarter and $1,197,694 for the nine months in 2007.

Thomas Sandgaard, CEO states: “We further accelerated our revenue growth compared to the two first quarters of 2007 as well as increasing our gross profit margin and net income. We expect the additions to our sales force in the last several months to continue to positively impact revenues and profitability in future quarters.”