ROCHESTER, MI -- (Marketwired) -- 05/16/14 -- OPTIMIZERx Corp. (OTCQB: OPRX) announced that it finished the first quarter for 2014 with revenues of $1,317,347 which is a 97% increase over the same first quarter period in 2013, and the organization generated positive net cash of $226,727 from operational activities. The company reported a net loss of $653,315 for the first quarter primarily due to two key factors: 1) a one-time litigation settlement and 2) non cash payment of stock to vendors, former executive and employees.
Despite nearly doubling sales over 1Q 2013, the company felt that revenues could have been even higher based on two important factors: 1) a technical issue within one of its most productive channel partners effected its ability to distribute the promotional program until the issue was resolved and 2) one of the company's largest pharmaceutical clients interrupted their program to analyze the promotional impact and return on investment.
Both matters have come to positive conclusions as the channel partner has restored and is expanding SampleMD's promotions and the manufacturer confirmed through a third party analytics company an extremely high return on investment and has restored its promotional programs to their fullest capacity.
The company also introduced its new Chief Financial Officer, Mr. Doug Baker, who brings with him over 23 years of public company experience and joins OPTIMIZERx after serving 18 years as CFO for a publicly traded technology company in the nanotechnology field. Prior to that, Doug held CFO and divisional controller positions at large privately held companies after serving nearly ten years as a CPA with Plante & Moran.
The company also launched its VoucherDVM solution that is engaging leading veterinary platform providers whom are interested in partnering with OPTIMIZERx to deliver similar automated savings to animal owners while allowing veterinarians to remain competitive in their pharmacy business.
To support the company's continued growth, OPTIMIZERx completed the development and migration of its SampleMD 2.0 on-demand, rule based content delivery platform while also updating its infrastructure resulting in unsurpassed response time, increased performance, simplified integrations and continuous availability.
"It has been an exciting and productive first quarter for OPTIMIZERx," said David Harrell, Chairman and CEO of OPTIMIZERx Corporation, "and we are pleased with our first quarter results as the company, its employees and partners are resolved in our mission of growing the organization, being profitable and providing maximum return for our shareholders."
For more information, please go to http://www.optimizerxcorp.com or contact us at 248-651-6568.
About OptimizeRx Corp
OPTIMIZERx Corp. (OTCQB: OPRX) provides unique consumer and physician platforms to help patients better afford and comply with their medicines and healthcare products, while offering pharmaceutical and healthcare companies effective ways to expand patient awareness, access and adherence to their medications. For more information, please go to www.optimizerxcorp.com or www.samplemd.com.
This press release contains forward-looking statements within the definition of Section 27A of the Securities Act of 1933, as amended and such section 21E of the Securities Act of 1934, amended. These forward-looking statements should not be used to make an investment decision. The words 'estimate,' 'possible' and 'seeking' and similar expressions identify forward-looking statements, which speak only as to the date the statement was made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.