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The nation’s pioneer and leading Managed Print Services (MPS) company for health care, announced its financial results for the quarter ended September 30, 2012.

“As a result of substantial growth in new customer accounts since January 2012, which we have projected will exceed $50 million in new revenue for the company, along with expeditiously completing the simultaneous implementation of our Managed Print Services program in 15 new customer hospitals during the third quarter, we expect to reach cash flow positive from operations during 2013,” stated Joseph J. Flynn, president and CEO of CynergisTek, Inc. “Furthermore, our company’s ability to respond quickly and successfully to the execution of our program in large multi-hospital systems provides immediate savings in print-related expenses for our customers that are facing significant financial constraints due to the changing environment in healthcare; and likewise results in what we expect to be a shorter period of time to reach our targeted profit margins with new accounts. Over a 12 month period, we will have implemented our print services program in over 30 new hospitals and hundreds of their affiliated entities; grown our hospital portfolio by over 50% and now manage the process and production of over 1.5 billion documents per year for more than 250,000 caregivers, physicians and health care employees across the country.”

Financial Results
For the three months ended September 30, 2012, the company reported net revenue of $8.8 million, an increase of 31% when compared to $6.7 million in the same period of 2011. Gross profit for the third quarter of 2012 was $1.4 million, or 15% of sales, compared to $1.3 million, or 19% of sales in the third quarter of 2011. Operating expenses were $1.7 million for the third quarter of 2012, or 19% of sales, compared to $1.3 million, or 19% of sales, in the same quarter of 2011. Net loss for the quarter was $660,000, or $0.03 per share, compared to a net loss of $47,000, or $0.00 per share, in the third quarter of 2011.

For the nine months ended September 30, 2012, the company reported net revenue of $25.9 million, an increase of 60% when compared to $16.2 million in the same period of 2011. Gross profit for the nine months ended September 30, 2012 was $3.1 million, or 12% of sales, compared to $2.4 million, or 15% of sales for the same period in 2011. Operating expenses were $4.8 million for the nine months ended September 30, 2012, or 19% of sales, compared to $3.8 million, or 23% of sales, for the same period in 2011. Net loss for the nine months ended September 30, 2012 was $2.3 million, or $0.12 per share, compared to a net loss of $1.5 Million, or $0.08 per share, for the same period in 2011

Conference Call Information
The company will host its third quarter 2012 financial results conference call today at 1:30 p.m. PDT / 4:30 p.m. ET, the details for which follow. To access the call in the U.S. please dial 1-877-941-1428 and for international calls dial 1-480-629-9665 approximately 10 minutes prior to the start of the conference. The conference ID is 4574929. The conference call will also be broadcast live over the Internet and available for replay for 15 days at https://cynergistek.com. In addition, a replay of the call will be available via telephone for two business days, beginning two hours after the call. To listen to the replay in the U.S., please dial 1-877-941-1428, and internationally, 1-480-629-9665. Enter access code 4574929.

About CynergisTek, Inc.
CynergisTek, Inc. is the pioneer of managed print services for the health care industry, working exclusively with hospitals and hospital systems throughout the United States. We are vendor independent and provide intelligent solutions, a risk free program and guaranteed savings. CynergisTek assumes all costs related to print business environments through customized, streamlined and seamless integration of services at predictable fixed rates that are unmatched in the industry. We work collaboratively to assist our health care-partners in the delivery of quality patient care. The service and solutions provided by our on-site Centers of Excellence professional print strategy consultants deliver unparalleled customer service across the industry. For more information about CynergisTek, visit https://cynergistek.com.

Forward Looking Statements
This release contains certain forward-looking statements relating to the business of CynergisTek, Inc. that can be identified by the use of forward-looking terminology such as “believes,” “expects,” “anticipates,” “may” or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including uncertainties relating to product/services development, long and uncertain sales cycles, the ability to obtain or maintain patent or other proprietary intellectual property protection, market acceptance, future capital requirements, competition from other providers, the ability of our vendors to continue supplying the company with equipment, parts, supplies and services at comparable terms and prices and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our Form 10-K and Form 10-Q filings with the Securities and Exchange Commission, which are available at http://www.sec.gov. CynergisTek, Inc. is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.