Press Releases

NEW PRAGUE, Minn.--(BUSINESS WIRE)-- Electromed, Inc. (NYSE Amex: ELMD) today announced financial results for the three-month period ended December 31, 2011. Net Revenues for the three months ended December 31, 2011, were approximately $4,790,000, a 2.2% increase compared to Net Revenues of approximately $4,686,000 for the same period last year. The Company also announced Net Income of approximately $25,000, or $0.00 per basic and diluted share, for the three months ended December 31, 2011, compared to Net Income of approximately $292,000, or $0.03 per basic and diluted share, for the same period last year. The reduction in Net Income results was attributable to missed sales goals reflecting underperformance by a number of former Clinical Area Managers. This resulted from termination-driven turnover of approximately 16% of the sales force. Management continues to believe that planned increases in the Company’s sales force, reimbursement and production personnel, coupled with the expansion of marketing and research and development efforts, will provide strong impetus for continued solid annual sales growth.

Robert Hansen, Chairman and CEO, commented on the Company, saying,

“When some employees fail to achieve planned goals, the performance of all the employees is compromised. In Sales, this fact is especially relevant. When momentum falters, the solution is to make summary changes and to replace weakness with strength. The Regional Sales Managers of Electromed, Inc. and I have acted swiftly to recruit new, highly-trained, and experienced sales staff to succeed the sales staff who failed to keep pace with the growth needs of the Second Quarter. New and exciting successors have replaced underperformers. I remain confident that the balance of Fiscal Year 2012, and the First Half of FY2013, beginning July 1, 2012, will reflect strong sales growth accompanied by continued profitability.�

Gross Profit decreased to approximately $3,480,000, or 72.6% of Net Revenues, for the three months ended December 31, 2011, compared to $3,540,000, or 75.6% for the same period in Fiscal 2011. The decrease in gross profit percentage was primarily the result of a change in average reimbursement from the mix of referrals during the three month period. Factors such as diagnoses that are not assured of reimbursement and insurance programs with lower allowable reimbursement amounts (for example, state Medicaid programs) affect average reimbursement received on a short-term basis. These factors tend to fluctuate on a quarterly basis. However, management does not believe the results of the quarter ended December 31, 2011, are indicative of a long-term trend in decreasing margins.

Operating Expenses, which consist of Selling, General, and Administrative Expenses and Research and Development expenses, were approximately $3,380,000 for the three months ended December 31, 2011, an increase of approximately 12.6% over Operating Expenses for the same period last year. These planned increases resulted from higher payroll related to increasing the size of the sales team, increases in reimbursement, administration, patient services staff, and patient training costs related to the higher Sales volume, increased expenses relating to being a new public Company, and increased Research and Development expenses.

Total cash was approximately $1,745,000 as of December 31, 2011. For the three months ended December 31, 2011, cash used in financing activities was approximately $86,000, consisting primarily of $90,000 in payments of long-term debt, capital lease obligations, and deferred financing fees. An aggregate of $405,000 was used for investing activities during the three months ended December 31, 2011, for purchases of property and equipment. The Company used approximately $710,000 in operating activities composed primarily of an increase in the Company’s accounts receivables and inventory, which increased approximately $304,000 and $234,000, or 2.9% and 10.8%, respectively. Accounts payable and accrued liabilities decreased approximately $302,000, or 14.0%, during the three months ended December 31, 2011.

About Electromed, Inc.Electromed, Inc., founded in 1992 and headquartered in New Prague, Minnesota, manufactures, markets, and sells products that provide airway clearance therapy, including the SmartVest® Airway Clearance System and related products, to patients with compromised pulmonary function. Further information about the Company can be found at www.electromed.com.

Cautionary StatementsCertain statements found in this release may constitute forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect the speaker’s current views with respect to future events and financial performance and include any statement that does not directly relate to a current or historical fact. Forward-looking statements can generally be identified by the words “believe,� “expect,� “anticipate� or “intend� or similar words. Forward-looking statements made in this release include the Company’s plans and expectations regarding sales growth, profitability, margins, planned increases in sales force, reimbursement and production personnel, and expansion of marketing and research and development. Forward-looking statements cannot be guaranteed and actual results may vary materially due to the uncertainties and risks, known and unknown, associated with such statements. Examples of risks and uncertainties for Electromed include, but are not limited to, the impact of emerging and existing competitors, the effectiveness of our sales and marketing initiatives, changes to reimbursement programs, as well as other factors described from time to time in our reports to the Securities and Exchange Commission (including our Annual Report on Form 10-K). Investors should not consider any list of such factors to be an exhaustive statement of all of the risks, uncertainties or potentially inaccurate assumptions investors should take into account when making investment decisions. Shareholders and other readers should not place undue reliance on “forward-looking statements,� as such statements speak only as of the date of this release.

Electromed, Inc.Robert D. Hansen, 952-758-9299Chairman and Chief Executive Officerbhansen@electromed.comorThe Event Group, IncorporatedPankti Shah, 763-548-1304Director of Strategic Marketingpankti.shah@eventshows.com

Source: Electromed, Inc.

CHICAGO, IL -- (MARKET WIRE) -- 02/13/12 -- The entire media circuit has been abuzz this week with news of the mortgage settlement deal between state attorneys general and four major US lenders. The settlement, valued at upwards of $30 million, is expected to provide financial relief to over one million struggling homeowners.

What has not been mentioned this week is how to help the thousands of Americans that are facing the threat of foreclosure right now.

"While the proposed deal may provide some measure of redress to borrowers who have lost their homes, it will not be returning their homes to them," says The Mortgage Law Group attorney, Kelly Sibert. "Nor does the deal serve to address the threat of foreclosure that millions of Americans in default currently face."

Once the deal is enacted it will be carried out over a three-year period, but for those in need of immediate assistance, that will be too late. The Mortgage Law Group strongly encourages anyone struggling with a mortgage to address their problem promptly in order to yield the best results.

The attorneys at The Mortgage Law Group have years of experience in mortgage mitigation and are happy to offer free consultations to anyone seeking loan modification assistance. The firm, however, remains hopeful that the settlement will be a step in the right direction.

"We hope that the nation's mortgage lenders will begin moving more aggressively toward putting homeowners into mortgages they can afford," Sibert concludes. "This would have a substantial effect of helping to stem the current mortgage crisis."

For more information, visit: www.themortgagelawgroup.com.

About The Mortgage Law Group:

The Mortgage Law Group is one of the most sophisticated consumer protection law firms nationwide. They've helped thousands of consumers save their homes and restore their lives. With offices located throughout the country, the firm's goal is to deliver outstanding service from highly qualified mortgage relief attorneys.

Source: The Mortgage Law Group

LOS ANGELES, CA -- (MARKET WIRE) -- 02/13/12 -- Gehry Technologies (GT), a leader in design and project management technology and consulting services, today announces that CTO Dennis Shelden will lead a speaking session titled Creating the 8 Spruce Street Façade at the Metals in Construction 2012 Facades Conference, to be held Thursday, February 16th at the McGraw-Hill Auditorium in New York, New York.

"This should be a very informative discussion and I look forward to speaking in detail on the 8 Spruce Street tower, designed by Frank Gehry, and how it demonstrates the results achievable through BIM driven collaboration between designer and fabricator," said Dr. Shelden. "The tower demonstrates the ability to achieve a highly customized building enclosure with limited cost premium over conventional curtain wall."

Dennis Shelden is a Founder and the CTO of Gehry Technologies, as well as an Associate Professor of the Practice in Design and Computation at MIT. He joined Gehry Partners in 1997 and became director of the firm's computation efforts in 2000, where he was responsible for the management and strategic direction of the firm's technology efforts, prior to co-founding GT in 2002. He holds a Bachelor of Science in Architectural Design, a Master of Science in Civil and Environmental Engineering, and a Ph.D. in Computation and Architectural Design from MIT.

Presented by the Ornamental Metal Institute of New York and The Architect's Newspaper, this two-day event is the first in a series of conferences created to help designers and builders understand the ways in which technology can transform design aspirations into reality. More information on the conference can found at: http://archpaper.com/conferences/facade/.

For more information on GT, visit www.gehrytech.com.

About Gehry Technologies

Gehry Technologies (GT) provides design and project management technology and consulting services to leading owners, developers, architects, engineers, general contractors, fabricators, and other building industry professionals worldwide. GT solutions increase creativity and control; reduce project risks, costs, and completion times; and improve processes and decisions through collaboration, project visibility, and information access. Gehry Technologies is privately held, with offices in Los Angeles, New York, Paris, Abu Dhabi, Hong Kong, Shanghai, and Beijing. For more information about Gehry Technologies, visit www.gehrytech.com.

Gehry Technologies Media Contact:
Sarah Tonzi
Emerge Media Communications
Email Contact
585-905-1806

Source: Gehry Technologies

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has affirmed Bancolombia Panama's (BP) Issuer Default Ratings with a Stable Rating Outlook. A complete list of ratings is included at the end of this press release.

BP is highly integrated with its parent and a key part of its business strategy in Colombia and Central America. Support from Bancolombia should be forthcoming if needed and its ability to support BP is reflected in its ratings; Bancolombia's IDR is rated 'BBB-' with a Positive Outlook by Fitch.

BP's IDRs could be upgraded if Bancolombia's IDR is upgraded; the IDRs would move in line with Bancolombia's rating. The Viability rating could be pressured if BP's asset quality deteriorates, resulting in higher loan loss provision needs and eroding the loan loss reserve and capital cushion. On the other hand, the Viability rating could improve if BP is able to maintain its performance while improving its capital and reserve cushion.

Tight cost control and economies of scale resulted in a lean operation in Panama and El Salvador. BP's efficiency ratios have improved after deteriorating following the acquisition of Banco Agricola (BA) and are gradually returning to historical levels. These ratios compare well to the company's local and regional peers.

BA is a well-positioned bank that runs an efficient and profitable universal banking business in El Salvador. By acquiring BA, BP gained in geographical diversification. In addition, it increased its business lines, revenue sources, product offering and funding base.

Benefiting from a positive operating environment in its core market of Colombia and a dominant franchise in El Salvador, BP was able to maintain a sound performance that is likely to continue improving as macroeconomic conditions stabilize in the Central American region and synergies with BA start to bear fruit.

The spike in PDLs observed in 2009-2010 has stabilized and reversed the trend into 2011 as El Salvador's economy stabilized and the bank's sound risk management policies helped contain asset deterioration. Given the expected growth and economic prospects, this trend is likely to continue into 2013.

BP's funding is better diversified after BA's acquisition and shows great stability. The bank maintains sound levels of liquidity between its cash, deposits in banks and investment portfolio.

BP maintains adequate loan loss reserves that cover PDLs at 140% at June 2011. Along with BP's sustained profitability, reserves constitute an additional cushion against unexpected losses.

BP's tangible equity-to-tangible assets ratio was depressed after the acquisition of BA due to the significant goodwill that the transaction generated. Sustained profitability (i.e. capital generation) and sound growth in its core market have contributed to restore capital and dilute the weight of goodwill. Capital has grown at a rate of 100-150 basis points per year since 2008. This clearly positive trend is likely to continue amid better economic prospects.

Bancolombia Panama SA (BP) was established in 1973 and is the largest bank with an international banking license in Panama. It is a wholly owned subsidiary of Bancolombia (Colombia's largest bank) and acts as a holding company for Bancolombia's core investments abroad.

Fitch affirms the following ratings on Bancolombia Panama S.A.:

--Long-term IDR at 'BBB-'; Outlook Positive;

--Short-term IDR at 'F3';

--Viability Rating at 'bb-';

--Support Rating at '2';

--Long Term Deposits at 'BBB-'

--Short Term Deposits at 'F3'

Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.

Applicable Criteria and Related Research:

--'Global Financial Institutions Rating Criteria' (Aug. 16, 2011);

--'2012 Outlook: Andean Banks' (Dec. 20, 2011).

--'2012 Outlook: Central America and Dominican Republic Banks' (Dec. 19, 2011).

Applicable Criteria and Related Research:

2012 Outlook: Central America and the Dominican Republic

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=661043

2012 Outlook: Andean Banks

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=659971

Global Financial Institutions Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=649171

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.

Fitch RatingsPrimary AnalystDiego Alcazar, +1-212-908-0396DirectorFitch Ratings Inc.One State Street PlazaNew York, NY -10004orSecondary AnalystAndres Marquez, +57 1 326 9999DirectororCommittee ChairpersonTheresa Paiz-Fredel, +1-212-908-0534Senior DirectororMedia RelationsBrian Bertsch, New York, +1-212-908-0549brian.bertsch@fitchratings.com

Source: Fitch Ratings