Medix Resources, Inc. Reports 1999 Second Quarter Results:
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Haven't owned any MDIX since .67, just watching it.
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DENVER, Aug. 12 /PRNewswire/ -- Medix Resources, Inc.
(OTC Bulletin Board: MDIX) today announced financial results for the second
quarter of 1999.
Revenues for the second quarter 1999 decreased 41% to $3,003,000, compared
with $5,128,000 for the second quarter 1998. The Company reported a 1999
second quarter loss of $604,000 and a net loss applicable to common
shareholders of $.04, compared with a net loss of $806,000 and a net loss
applicable to common stockholders of $.04 for the 1998 second quarter.
Revenues for the first six months of 1999 decreased 40% to $6,103,000,
compared with $10,162,000 for the first six months of 1998. The Company
reported a loss of $1,199,000 and a net loss applicable to common shareholders
of $.07 for the first six months of 1999 compared with a net loss of
$1,416,000 and a net loss applicable to common stockholders of $.07 for the
first six months of 1998.
The decrease in revenue is primarily a result of the 1998 sale of the
Company's Stat and Ellis offices in New York. The Company also experienced
decreased revenues from its TherAmerica offices in Colorado and California.
These decreases were partially offset by increased nurse staffing revenues in
Texas, Colorado and Travel divisions.
Denver based Medix Resources, Inc. is engaged through its wholly owned
subsidiary Cymedix Lynx Corporation of Thousand Oaks, California, in providing
several fully secure patent-pending Internet medical communications products,
using an E-commerce business model. Historically, the company's core business
has been providing skilled nursing, therapy, rehabilitation and other medical
personnel for flexible staffing in home care and in a broad spectrum of
healthcare and educational facilities.
"Safe Harbor" statement under the Private Securities Litigation Reform Act
of 1995: the Statements contained in this release which are not historical
facts contain forward-looking information with respect to plans, projections
and/or future performance of the Company, the occurrence of which involve
certain risks and uncertainties detailed in the Company's Form 10-KSB for 1998
that was filed with the Securities and Exchange Commission on April 12, 1999
and 1999 second quarter 10-QSB filed with the Securities and Exchange
Commission on August 11, 1999. Such information is available from the SEC or
from the Company.
SOURCE Medix Resources, Inc.
-0- 08/12/99
/Contact: John P. Yeros, 303-741-2045, or Gene Martineau, 212-348-1880,
both for Medix Resources, Inc./
(MDIX)
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