Last $0.31 USD
Change Today -0.0261 / -7.68%
Volume 112.6K
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As of 8:10 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

vasomedical inc (VASO) Snapshot

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03/26/14 - $0.50
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vasomedical inc (VASO) Details

Vasomedical, Inc. designs, manufactures, markets, and supports enhanced external counterpulsation (EECP) systems, ambulatory monitoring systems, and other medical equipment. Its EECP therapy is used for the treatment of chronic stable angina and congestive heart failure, as well as for acute myocardial infarction, and cardiogenic shock. The company also offers in-service and training support for the EECP systems; and distributes GEHC diagnostic imaging products. The company offers its products and services to treatment providers, such as hospitals, clinics, and physician private practices through sales managers in the United States; and a network of independent distributors internationally. Vasomedical, Inc. was founded in 1987 and is headquartered in Westbury, New York.

215 Employees
Last Reported Date: 03/27/14
Founded in 1987

vasomedical inc (VASO) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $375.0K
Chief Financial Officer and Secretary
Total Annual Compensation: $200.0K
Senior Vice President, Chief Executive Office...
Total Annual Compensation: $600.0K
Vice President of Finance, Controller and Tre...
Total Annual Compensation: $165.0K
Compensation as of Fiscal Year 2013.

vasomedical inc (VASO) Key Developments

Vasomedical Inc. Announces Cooperative Agreement with Chongqing PSK-Health Sci-tech Development Co., Ltd for International Marketing of ECP Systems

Vasomedical Inc. announced that it has entered into an agreement with Chongqing PSK-Health Sci-Tech Development Co. Ltd. to form a joint venture company, VSK Medical Limited, for the global marketing and sale of EECP and ECP therapy systems. The agreement provides for Vasomedical and PSK to appoint the joint venture company as the exclusive distributor to market, distribute and sell EECP and ECP therapy products globally, except for the United States and China. In this regard, the agreement provides for PSK to be the exclusive distributor of Vasomedical's EECP therapy systems in China and for Vasomedical to be the exclusive distributor of PSK's ECP therapy systems in the United States, subject to certain conditions.

Vasomedical Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Cash Flow Guidance for 2014

Vasomedical Inc. reported earnings results for the fourth quarter and full year ended December 31, 2013. For the three months ended December 31, 2013, revenue increased 3% to $10.1 million from $9.8 million for the same period of 2012. This is attributable to a 26% increase in equipment sales revenue to $1.3 million, as a result of continued growth from Biox subsidiary in China. Net income for the three months ended December 31, 2013 was $504,000, a 19% improvement compared with a net income of $425,000 for the three months ended December 31, 2012. The company's equipment segment, which includes EECP and Biox products, showed in the last quarter of 2013 with equipment sales up by 26% for the quarter, and, as a result, the company increased fourth quarter net profit by 19% from a year ago. Income before taxes was $481,000 against $405,000 a year ago. Operating income was $414,000 against $377,000 a year ago. For the year ended December 31, 2013, revenue increased $3.7 million, or 12%, to $32.9 million, compared with $29.2 million for the same period of 2012. The increase was due primarily to higher installations of underlying equipment in 2013 as well as higher commission rates. For the year ended December 31, 2013, the company had a net loss of $1.1 million, or $0.01 per common share, compared with a net loss of $3.4 million, or $0.02 per common share, for the year ended December 31, 2012. Net cash decreased by $3.5 million to $8.0 million at December 31, 2013, compared with net cash of $11.5 million as of December 31, 2012. This decrease in cash is mainly attributable to the $1.8 million incurred for stock repurchase program and an increase in other assets. Loss before taxes was $1,145,000 against $3,381,000 a year ago. Operating income was $1,290,000 against $3,508,000 a year ago. Based on current forecast, the company anticipates cash flow from operating activities to be positive for 2014.

Vasomedical Considers Acquisitions

Vasomedical Inc. (OTCBB: VASO) is seeking acquisition opportunities. Dr. Jun Ma, President and Chief Executive Officer of Vasomedical said, "The activities within each of our businesses are exciting and we are encouraged by the growth from both of our business segments. Looking ahead to 2014, we remain committed to our growth and diversification strategy and achieving profitability for the full year. We will continue to pursue opportunities to expand our product portfolio; the recently announced MobiCare wireless patient monitoring device, which has received marketing approval in China, is such an example. We are in continued discussions with our sales representation partner with regard to further developing the VasoHealthcare business to include more products and broader customer base. In addition, we continue to review potential accretive acquisitions and partnerships in the international and domestic markets,".


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