MDX Medx Health Corp

TSX Venture Symbol: MDX      

CUSIP #:   585090

MISSISSAUGA, ON, Nov. 12, 2013 /CNW/ - MedX Health Corp. ("MDX" or the "Company") (TSX-V: MDX) reported today its financial and operational results for the Third Quarter of fiscal 2013. All amounts are in Canadian dollars unless otherwise stated.

Third Quarter Financial Highlights

The highlights for MDX, on a consolidated basis, are:

• Consolidated revenue decreased by 37% to $109,000 in Q3 2013 compared to $174,000 in Q3 2012;
• Consolidated Gross Profit decreased 46% to $49,000 in Q3 2013 compared to $92,000 in Q3 2012;
• Consolidated operating expenses decreased by 37% to $412,000 in Q3 2013 compared to $421,000 in Q3 2012;
• Comprehensive loss before income taxes increased by 10%, to $362,000,000 in Q3 2013 compared to comprehensive loss of $329,000 in Q3 2012;

Steve Guillen, CEO, said:  "The Third Quarter of Fiscal 2013 was another tough period and continued to present many challenges while we were in the process of changing many aspects of our business strategy.   We have significantly developed and re-aligned our strategic approach to marketing which we believe will lead to major developments during the latter part of fiscal 2013 as we bring our products, especially the MoleMate™ units, to the market through new channels."

Historical information for the Three month periods ended September 30, 2013 and 2012 are as follows: (in $000's except per share figures)

Consolidated Unaudited Interim Financial Statements

NOTE TO READER: The following unaudited interim financial statements are extracted from the complete unaudited interim financial statements of the Company for the Three and Nine Months ended September 30, 2013, which have been filed on SEDAR together with the Management's Discussion and Analysis. References to "accompanying Notes" refer to the Notes to the unaudited interim financial statements for the Three and Nine Months ended September 30, 2013 and 2012, which are filed with the Company's documents, and can be found on www.sedar.com to which the reader is referred.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information set out in this News Release constitutes forward-looking information.  Forward-looking statements (often, but not always, identified by the use of words such as "expect", "may", "could", "anticipate" or "will" and similar expressions) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties. Forward-looking statements are based upon the opinions, expectations and estimates of management of MDX as at the date the statements are made and are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements.  Although MDX believes that the expectations reflected in the forward-looking statements set out in this press release or incorporated herein by reference are reasonable, it can give no assurance that such expectations will prove to have been correct.  The forward-looking statements of MDX contained in this News Release, or incorporated herein by reference, are expressly qualified, in their entirety, by this cautionary statement and the risk factors contained in MDX's current annual information form available at www.sedar.com.

SOURCE MedX Health Corp.