OmniComm Systems, Inc. Continues Positive Trends in Revenue and EBITDA
Revenue Up 19% and EBITDA Up 61%
FORT LAUDERDALE, Fla., Nov. 14, 2012 (GLOBE NEWSWIRE) -- OmniComm Systems,
Inc. (OTCBB:OMCM), one of the fastest growing companies in the Electronic Data
Capture (EDC) marketplace, announced its results of operations for the three
and nine months ended September 30, 2012.
Revenue for the nine months ended September 30, 2012 totaled $11.9M, a 19%
increase over the results for the first nine months of 2011. Revenue for the
quarter ended September 30, 2012 totaled $4.1M, a 22% increase over the
results for the third quarter of 2011. "Our record setting results in the
third quarter reflect the success of our sales and marketing efforts which
have been bolstered by many recent innovations to our products and services,"
stated Stephen Johnson, President and Chief Operating Officer. "Revolutionary
enhancements such as Dynamic Monitoring and automated SDTM exports, which
recently took the Bronze at the SCDM Data Driven Innovation awards, have
fueled our growth with both our existing and new clients."
For the quarter ended September 30, 2012, the company reported positive EBITDA
of $487,968 which represents a 61% improvement over the Q2 2012 EBITDA of
$304,409. "The improvement in our performance is the result of our continued
focus on both top line revenue growth and expense management," commented Tom
Vickers, Senior Vice President and Chief Financial Officer.
"2012 has been a great year for OmniComm. I am very proud of the success we
have had so far this year. We have continued our positive trends across the
board in Revenue growth, EBITDA improvement and Operating Income," commented
Cornelis F. Wit, CEO. "We are well positioned for the rest of 2012 as well as
OmniComm Systems, Inc. (www.OmniComm.com) provides customer-driven Internet
solutions to pharmaceutical, biotechnology, and medical device organizations
that conduct life changing clinical trial research. OmniComm's growing base of
satisfied customers is a direct result of the company's commitment to deliver
products and services that ensure ease of use, faster study build, ease of
integration and better performance. OmniComm Systems, Inc. has U.S.
headquarters in Fort Lauderdale, FL and European headquarters in Bonn,
Germany, with satellite offices in New Jersey and the United Kingdom, as well
as sales offices throughout the U.S. and Europe.
The OmniComm Systems Inc. logo is available at
Safe Harbor Disclaimer
Statements made by OmniComm included in this release may constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Such statements involve a number of risks and
uncertainties such as the Company's ability to obtain new contracts and
accurately estimate net revenues due to uncertain regulatory guidance,
variability in size, scope and duration of projects, and internal issues at
the sponsoring client, integration of acquisitions, competitive factors,
technological development, and market demand. As a result, actual results may
differ materially from any financial outlooks stated herein. Further
information on potential factors that could affect the Company's financial
results can be found in the Company's Reports on Form 10-K and 10-Q filed with
the Securities and Exchange Commission. The Company undertakes no obligation
to publicly update any forward-looking statement, whether as a result of new
information, future events, or otherwise.
CONTACT: Tom Vickers
Senior Vice President and Chief Financial Officer
OmniComm Systems, Inc.
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