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OmniComm Systems Announces 1st Quarter Results of Operations
FT. LAUDERDALE, Fla, April 22/PR Newswire-FirstCall/ -- OmniComm Systems, Inc. (OTC Bulletin Board: OMCM.OB),
a leader in integrated eClinical solutions for the clinical trials market today announced its
results of operations for the first quarter of fiscal 2009
Revenue for the first quarter of 2009 increased approximately 139% to $2,416,600 compared to $1,012,000 in
the same period of 2008. Gross profit margin improved to 79.5% for the three months ended March 31, 2009
compared to 68.5% for the comparable period in 2008. The improvement in the Company's gross profit margin
reflects the significant increase in revenue which can be attributed to success in broadening the overall revenue
mix through the deployment of TrialMaster™ on a licensed basis. In conjunction with the licensing of
TrialMaster, the Company also increased the revenues it recognized from professional and consulting services
during the first quarter of 2009.
"We feel that our first quarter results are indicative of the fact that our infrastructure investments from the last
two years have allowed us to make great strides in the eClinical market. The market in general is experiencing
some signs of the economic difficulties being felt across the economy. In particular, small biotechnology firms
have slowed the rate of EDC spending and our CRO partners are experiencing higher levels of cancellations
than expected. However, we are seeing increased activity in our European operations and are encouraged to
see that the market for technology transfers has picked up. We believe that OmniComm is positioned to
capture additional market share once clinical trial activity begins to rebound. We are pleased that we were able
to maintain our S, G & A at levels comparable to 2008, increase our gross profit margins while growing our
revenues substantially. By increasing our revenues and successfully managing our costs we have managed to
maintain our operating cash. This has allowed us to maintain our financial position in a difficult economy. We
have evaluated our cost structure in light of our existing business development pipeline and taken measures to
ensure that we optimize the use of our financial resources," commented Ronald T. Linares, Chief Financial
Officer of the Company.
"We believe that we are well positioned to grow our business during 2009," said Cornelis F. Wit, Chief
Executive Officer of the Company. “Our strategy has been to build the strongest management team possible
and to position our products to provide the depth and breadth of functionality and service our clients need to
successfully bring their therapies to market. During 2009, our focus will be on increasing our market
penetration, increasing revenues from the spectrum of products and services we offer and maintaining a tight
handle on our operating expenses. The core of both our long-term strategic and near-term operating plans is
ensuring that we continue to provide existing and potential clients cutting-edge eClinical solutions coupled
with an emphasis on value-added professional and consulting services."
About OmniComm
OmniComm Systems, Inc. (www.OmniComm.com) provides customer-driven Internet solutions to
pharmaceutical, biotechnology, research 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's client intuitive pricing model allows companies that range from small, to
mid-size to large scale institutions to safely and efficiently capitalize on their clinical research investments.
OmniComm Systems, Inc. has corporate headquarters in Ft. Lauderdale, Florida with offices in Bonn, Chicago,
Germany, Tula, Russia, California, New York, North Carolina, Tennessee, Massachusetts and Georgia.
Safe Harbor Disclaimer
Statements about OmniComm's future expectations, including without limitation, future revenues and earnings,
plans and objectives for the future operations, future agreements, future economic performance, operations and
all other statements in this press release other than historical facts are "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934,
and as that term is defined in the Private Securities Litigation Reform Act of 1995. OmniComm intends that
such forward-looking statements be subject to the Safe Harbors created thereby. Since these statements involve
risks and uncertainties, including but not limited to economic competitive, governmental, contractual and
technological factors affecting OmniComm's operations, markets and profitability, actual results could differ
materially and adversely from the expected results.
CONTACT:
Steve Johnson of OmniComm Systems,Inc.
OmniComm Systems, Inc.
+1-954-473-1254
sjohnson@omnicomm.com
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