Aspyra announces Q2 financial results for the year 2009

Aspyra, Inc. (AMEX: APY), a provider of clinical and diagnostic information systems for the healthcare industry, today reported its results of operations for the second quarter ended June 30, 2009.

Sales were $2,148,253 for the second quarter of fiscal 2009 compared with sales of $2,316,807 for the comparable quarter ended June 30, 2008. The Company incurred a net loss of $1,583,393 or basic and diluted loss of $.13 for the quarter ended June 30, 2009, compared to a net loss of $1,200,283 or basic and diluted loss per share of $.10 for the quarter ended June 30, 2008. Basic and diluted shares outstanding for each period were 12,446,121 and 12,437,150, respectively. The Company had $872,050 of cash on hand at the end of the quarter.

Sales were $4,070,910 for the six months ended June 30, 2009 compared with sales of $4,481,372 for the comparable period of fiscal 2008. The Company incurred a net loss of $3,068,026 or basic and diluted loss of $.25 for the six months ended June 30, 2009, compared to a net loss of $2,394,683 or basic and diluted loss per share of $.19 for the six months ended June 30, 2008. Basic and diluted shares outstanding for each period were 12,441,635 and 12,437,150, respectively.

Earnings before interest, income taxes, depreciation and amortization (EBITDA) for the second quarter of fiscal 2009 were ($759,970) as compared to EBITDA of ($347,152) for the second quarter of fiscal 2008 and EBITDA of ($632,546) for the first quarter of 2009. For the six months ended June 30, 2009, EBITDA was ($1,392,516) as compared ($949,447) for the six months ended June 30, 2008.

Chief Executive Officer, Rodney Schutt, stated, “We started the quarter off strong with the Health Diagnostics multi-location order. Since then, our pipeline for new systems sales continues to expand, however; the Company is experiencing a delay in system sales closing, likely attributable to the overall paralysis of capital healthcare IT spending within the industry.” He continued, “Alternatively, we are seeing an increase in ancillary and upgrade sales for existing customers. This further demonstrates the Company’s strong customer following, which provides positive references for new system prospects.”