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 2013."
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.
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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. 954-473-1254