Zynex Inc. (ZYXI) Posts Q1 36% Earnings Increase, Reaffirms Q2 Guidance
Zynex Inc., a provider of non-invasive medical devices for electrotherapy and stroke rehabilitation, neurological diagnosis and cardiac monitoring, yesterday posted a 36% increase in first quarter 2011 earnings. Net revenue of $6.63 million is an increase of 36 percent compared to $4.87 million for the quarter ended March 31, 2010. The company attributes the increase to its aggressive expansion efforts, including the addition of 18 new domestic sales representatives. Gross profit was $5.18 million compared to gross profit of $3.78 million reported for the first quarter of the year prior. The company reported a first quarter net loss of $110,000…