Welcome!

News Feed Item

Medytox Solutions, Inc. Announces Results for the Three and Six Months Ended June 30, 2014

WEST PALM BEACH, FL--(Marketwired - August 18, 2014) - Medytox Solutions, Inc. (OTCQB: MMMS) announced today its financial results for the three-month period ended June 30, 2014 (the "2014 Quarter"), and the six-month period ended June 30, 2014 (the "2014 Period"). For the 2014 Quarter, the Company reported revenues of approximately $20.1 million, which represented an increase of approximately $12.2 million, or 142%, from the approximately $8.6 million in revenues reported for the same period of the prior year (the "2013 Quarter"). For the 2014 Period, the Company reported revenues of approximately $41.8 million, which represented an increase of approximately $25.2 million, or 152, from the approximately $16.6 million in revenues reported for the same period of the prior year (the "2013 Period"). For the 2014 Quarter, the Company reported income from operations of approximately $5.8 million, compared to income from operations of approximately $0.9 million for the 2013 Quarter. For the 2014 Period, the Company reported income from operations of approximately $12.7 million, as compared to income from operations of approximately $2.2 million for the 2013 Period.

"Our results for the three and nine months ended June 30, 2014 are due to our continued commitment to all our customers," stated William Forhan, the Company's Chief Executive Officer. "We also appreciate all our employees, who work hard to deliver excellent customer service."

The Company is a holding company that owns and operates businesses in the medical services sector. Our principal line of business is clinical laboratory blood and urine testing services, with a particular emphasis in the provision of urine drug toxicology and comprehensive pain medication monitoring programs to physicians, clinics and rehabilitation facilities in the United States.

                                                                            
                                                                            
                          MEDYTOX SOLUTIONS, INC.                           
               Condensed Consolidated Statements of Operations              
                                 (Unaudited)                                
                                                                            
                           For the Three Months        For the Six Months   
                                  Ended                      Ended          
                                 June 30,                   June 30,        
                            2014          2013         2014         2013    
                       ------------- ------------- ------------ ------------
Revenues               $ 20,784,426  $  8,602,577  $41,846,998  $16,626,336 
                                                                            
 Total operating                                                            
  expenses               14,986,134     7,675,800   29,184,625   14,442,103 
                                                                            
Income from operations    5,798,292       926,777   12,662,370    2,184,233 
                                                                            
 Total other income                                                         
  (expense)                (100,813)     (122,700)     (63,258)    (332,843)
                                                                            
Income before income                                                        
 taxes                    5,697,479       804,077   12,599,112    1,851,390 
                                                                            
Provision for income                                                        
 taxes                    2,198,000       120,800    4,796,100      514,900 
                       -----------------------------------------------------
                                                                            
Net income attributable                                                     
 to Medytox Solutions     3,499,479       683,277    7,803,012    1,336,490 
 Preferred stock                                                            
  dividends               1,510,542       244,365    2,424,105      483,106 
                       -----------------------------------------------------
                                                                            
Net income attributable                                                     
 to Medytox Solutions                                                       
 common shareholders   $  1,988,937  $    438,912  $ 5,378,907  $   853,384 
                       =====================================================
                                                                            
Net income per common                                                       
 share -                                                                    
 Basic                 $       0.07  $       0.01  $      0.18  $      0.03 
                       =====================================================
                                                                            
 Diluted               $       0.06  $       0.02  $      0.18  $      0.03 
                       =====================================================
                                                                            
Weighted average number                                                     
 of common shares                                                           
 outstanding during the                                                     
 period -                                                                   
 Basic                   30,247,265    29,572,076   30,145,723   29,567,814 
                       =====================================================
                                                                            
 Diluted                 30,669,487    29,955,309   30,482,862   29,931,047 
                       =====================================================
                                                                            
                                                                            

"Forward-looking" Statements

This press release may contain "forward-looking" statements, as defined in the Private Securities Litigation Reform Act of 1995, as amended. Any such statements are made pursuant to the safe-harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, and they involve a number of risks and uncertainties that could cause actual results to differ materially from those that may be anticipated by or from the forward-looking statements. Important factors that could cause such a difference are set forth in the Company's filings with the Securities and Exchange Commission and include, but are not limited to the ability to consummate acquisitions and the ability to integrate such acquisitions.

Contact: 
Sebastien Sainsbury
[email protected]
400 South Australian Avenue, 8th Floor
West Palm Beach, Florida 33401

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
Blockchain. A day doesn’t seem to go by without seeing articles and discussions about the technology. According to PwC executive Seamus Cushley, approximately $1.4B has been invested in blockchain just last year. In Gartner’s recent hype cycle for emerging technologies, blockchain is approaching the peak. It is considered by Gartner as one of the ‘Key platform-enabling technologies to track.’ While there is a lot of ‘hype vs reality’ discussions going on, there is no arguing that blockchain is b...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure. The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
The need for greater agility and scalability necessitated the digital transformation in the form of following equation: monolithic to microservices to serverless architecture (FaaS). To keep up with the cut-throat competition, the organisations need to update their technology stack to make software development their differentiating factor. Thus microservices architecture emerged as a potential method to provide development teams with greater flexibility and other advantages, such as the abili...
ChatOps is an emerging topic that has led to the wide availability of integrations between group chat and various other tools/platforms. Currently, HipChat is an extremely powerful collaboration platform due to the various ChatOps integrations that are available. However, DevOps automation can involve orchestration and complex workflows. In his session at @DevOpsSummit at 20th Cloud Expo, Himanshu Chhetri, CTO at Addteq, will cover practical examples and use cases such as self-provisioning infra...
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.
Leading companies, from the Global Fortune 500 to the smallest companies, are adopting hybrid cloud as the path to business advantage. Hybrid cloud depends on cloud services and on-premises infrastructure working in unison. Successful implementations require new levels of data mobility, enabled by an automated and seamless flow across on-premises and cloud resources. In his general session at 21st Cloud Expo, Greg Tevis, an IBM Storage Software Technical Strategist and Customer Solution Architec...
The use of containers by developers -- and now increasingly IT operators -- has grown from infatuation to deep and abiding love. But as with any long-term affair, the honeymoon soon leads to needing to live well together ... and maybe even getting some relationship help along the way. And so it goes with container orchestration and automation solutions, which are rapidly emerging as the means to maintain the bliss between rapid container adoption and broad container use among multiple cloud host...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across business networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost as well as advance trade. Are you curious about how Blockchain is built for business? In her session at 21st Cloud Expo, René Bostic, Technical VP of the IBM Cloud Unit in North America, discussed the b...
Imagine if you will, a retail floor so densely packed with sensors that they can pick up the movements of insects scurrying across a store aisle. Or a component of a piece of factory equipment so well-instrumented that its digital twin provides resolution down to the micrometer.
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings the mainstream adoption of containers for production workloads. In his session at 21st Cloud Expo, Ben McCormack, VP of Operations at Evernote, discussed how data centers of the future will be managed, how the p...