AUXILIO Reports Year-end 2012 Financial Results

Company Reports Revenue Growth of 64%

MISSION VIEJO, Calif.–(BUSINESS WIRE)– AUXILIO, Inc. (OTCBB: AUXO), the nation’s pioneer and leading Managed Print Services (MPS) company for health care, announced its financial results for the year ended December 31, 2012.

“2012 was a record-setting year for our company as we added the largest number of new hospitals to our national hospital portfolio and successfully completed the largest number of implementations of our MPS program in a single year,” stated Joseph J. Flynn, president and CEO of AUXILIO, Inc. “In addition, we exceeded our expectations with revenue growth of 64% over 2011. These significant achievements were anchored by the signing of the largest customer account in our company’s history with Catholic Health East‘s 19 hospitals in multiple states along the East Coast in December 2011. Our momentum has continued into 2013 with a new $4.5M contract with Citrus Valley Health Partners in southern California and a renewal contract through 2015 with Palisades Medical Center in New Jersey. We remain on target to achieve positive income from operations during 2013.”

Financial Results

For the twelve months ended December 31, 2012, the company reported net revenue of $35.7 million, an increase of 64% when compared to $21.8 million in the same period of 2011. 2012 gross profit was $4.6 million, or 13% of sales, compared to $2.7 million, or 12% of sales in 2011. 2012 operating expenses were $6.3 million, or 18% of sales, compared to $5.2 million, or 24% of sales in 2011. 2012 net loss was $2.4 million, or $0.12 per share, compared to a net loss of $2.6 million, or $0.13 per share, in 2011.

Paul Anthony, CFO of AUXILIO, stated: “Our year-over-year revenue increase from the eight new or expanded contracts we signed in 2011 and early 2012 impacted 2012 earnings due to the fact that we recognize higher costs at the onset of those agreements, some of which before we derived revenue from the agreements. We are pleased with our improvements in financial results in the later part of 2012 as these new accounts mature.”

Conference Call Information

The company will host its year-end 2012 financial results conference call today at 1:30 p.m. …read more
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