Message #5 From:
NewsBot Date: October 30, 2006 02:28:00 PM
OMRX News Orthometrix, Inc. Announces 67% Increase in Quarterly Sales and Launches the Vibraflex(R) Home Edition, a New Patented Whole Body Vibration Model for the Home Fitness Market
WHITE PLAINS, N.Y.--(BUSINESS WIRE)--ORTHOMETRIX, INC.(OTCBB: OMRX) announced today its
financial results for the third quarter ended September 30, 2006.
Revenue for the third quarter ended September 30, 2006 increased by 67%
to $507,368, compared with $302,981 for the third quarter ended
September 30, 2005. Gross Margin for the third quarter ended September
30, 2006 increased to 64%, compared with 55% for the third quarter ended
September 30, 2005. The net loss for the third quarter of 2006 decreased
to $393,335, compared with a 2005 third quarter net loss of $564,649.
Revenue for the nine month period ended September 30, 2006 increased by
69% to $1,967,390, compared with $1,165,445 for the nine month period
ended September 30, 2005. Gross Margin for the nine month period ended
September 30, 2006 increased to 65% compared with 59% for the nine month
period ended September 30, 2005. The net loss for the first nine months
of 2006 decreased to $1,042,579 compared with a net loss of $1,523,248
for the first nine months of 2005.
The Company also announced that it has launched the VibraFlex®
Home Edition, its first Whole Body Vibration model designed specifically
for the home market. The VibraFlex® is a
patented motorized exercise system used to facilitate exercise by
individuals with conditions affecting muscle, tendons and ligaments;
poor muscle strength and coordination; and poor blood circulation
(spinal cord injuries, Osteoarthritis, Incontinence, Diabetes, and
Parkinson’s disease). In 2001, the Company
received from the U.S. Food & Drug Administration (FDA) a written
acknowledgement that devices using this technology may be marketed as
Class I devices intended for exercise in connection with such
conditions. After being used primarily in rehabilitation and physical
therapy, the VibraFlex® started to penetrate
the sports and the fitness markets. Today, units are used by star
athletes and major professional teams (NBA, MLB, NFL, etc…),
as well as fitness clubs (New York Sports Clubs, Gold’s
Gym, etc…). Earlier this year, the VibraFlex®
500 was named one of three overall best new product winners out of over
300 new products as voted by Professional Golf Association (PGA) members
and buyers at the 2006 PGA Merchandise Show in Orlando, Florida.
Reynald Bonmati, Chairman and Chief Executive Officer of Orthometrix,
commented, “We continue to be pleased with
our sales for the first nine month of 2006 which already amount to 130%
of the sales we booked for the entire year 2005. Our VibraFlex®
line of patented exercise equipment for fitness and wellness has been
the main driver of such sales increase as Whole Body Vibration is
getting better known worldwide. As VibraFlex®
commercial models started to be purchased for their home gym by
customers who can afford their relatively high prices, we have developed
the VibraFlex® Home Edition, a new version
specially designed for the home market and priced at 1/3 of the
commercial models. Our goal is to make the powerful VibraFlex®
technology accessible to the public which is becoming increasingly
fitness conscious.”
Orthometrix, Inc. markets, sells and services several musculoskeletal
product lines used in pharmaceutical research, diagnostic and monitoring
of bone and muscle disorders, sports medicine, rehabilitative medicine,
physical therapy and pain management.
“Safe Harbor”
Statement under the Private Securities Litigation Reform Act of 1995: The
statements which are not historical facts contained in this release are
forward looking statements that involve risk and uncertainties,
including, but not limited to, any effect on future financial results
from efforts to broaden the Company’s
position in the rehabilitation, physical therapy and musculoskeletal
markets, any potential impact on sales of VibraFlex in North America and
other risks detailed in the documents periodically filed with the
Securities and Exchange Commission, specifically the most recent reports
on Forms 10-KSB and 10-QSB. These risks and uncertainties could cause
actual results to differ materially from those expected and/or contained
in the forward-looking statements. Any forward-looking statement made in
this release is made as of the date of this release and the Company
assumes no obligation, subject to applicable law, to update such
forward-looking statement.
