MIAMI, Aug. 21, 2012 (GLOBE NEWSWIRE) -- Internal Fixation Systems (OTCQB:IFIX) today announces the filing of its quarterly report on Form 10-Q for the period ended June 30, 2012, with the U.S. Securities and Exchange Commission.
"This has been an active quarter for IFS," stated Stephen Dresnick, MD, President and CEO. "Our previously announced restructuring is now almost complete. The management team is very focused on further advancing our aggressive business plan for continued growth."
Financial highlights of the quarter include:
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An increase in revenues of approximately 130% when compared with the three months ended June 30, 2011
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An increase in gross profit of over 90% when compared with the same period in 2011
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Expenses decreased 15% which is reflective of restructuring and cost-cutting efforts
- Cash provided by operations was $185,266 compared to ($579,343) reported for the same period a year earlier
For additional information and to view the complete financial statements, please visit our website at www.ifsusa.net and look for the SEC Filings tab in the Investor Relations section.
If you have questions, forward them to sdresnick@ifsusa.net. Please provide your name, organization, whether you are a shareholder or not, and your question. We will attempt to answer as many questions as possible.
About IFS: Internal Fixation Systems, Inc. is a manufacturer and marketer of high quality, responsibly priced orthopedic, spinal and podiatric implants. We seek to prove that superior products and lower costs can go hand in hand. IFS focuses on widely used, market proven products used to treat common fractures. Our Advisory Panel, consisting of nationally recognized surgeons, provides input on how to improve our implant designs. The resulting products incorporate doctor requested enhancements and are priced at 40-60% less than the competition. IFS customers include ambulatory surgery centers, hospitals and orthopedic surgeons. Please contact us for more information about our product and business model.
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