Executive Vice President and Chief Financial Officer
OmniComm Systems, Inc.
18% improvement in Revenue year-over-year
Fort Lauderdale, FL, August 3, 2012 – OmniComm Systems, Inc., one of the fastest growing companies in the Electronic Data Capture (EDC) marketplace, today announced its results of operations for the three and six months ended June 30, 2012.
Revenue for the six months ended June 30, 2012 totaled $7.8M, an 18% increase over the results for the first half of 2011. Revenue for the quarter ended June 30, 2012 totaled $4.1M, a 21% increase over the results for the second quarter of 2011. “The year-to-date results reflect the success of our sales and marketing efforts and the dedication of the entire OmniComm organization,” stated Stephen Johnson, President and Chief Operating Officer. “We’ve added 12 new clients over the last six months to go along with record repeat business. We pride ourselves on our ability to exceed our clients’ expectations with our products and services.”
For the quarter ended June 30, 2012, the company reported positive EBITDA of $302,409 which represents a 462% improvement over the Q1 2012 EBITDA of $53,773. “As our revenue grows, we are carefully monitoring our expenses to ensure that we maintain our margins while expanding infrastructure as necessary to support the growth.” commented Ronald Linares, Executive Vice President and Chief Financial Officer.
“I am extremely proud of the OmniComm team and our success in the first half of 2012. This quarter continues our trend of positive EBITDA and, more importantly, is the first quarter in the recent history of the company with positive Operating Income,” commented Cornelis F. Wit, CEO. “The recent releases of TrialMaster 4.1.2 and TrialOne 4.2.1 will provide our current and future clients with feature rich Electronic Data Capture (EDC) solutions that provide unequalled interactivity and customization and at the same time help drive down costs without sacrificing quality.”
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.
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.