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Qmed, Inc. (QMED) Files 10k Just in Time but Has a Decrease in Revenues

QMed, Inc. (Nasdaq: QMED) announced their financial results for the fourth quarter and fiscal year ending November 30, 2007. The revenues for the year decreased to $5,246,789 from $8,136,305 a year ago, while revenues for the three-month period ended November 30, 2007 decreased to $1,527,094 from $1,817,943.

On March 24, 2007, QMed received a NASDAQ staff determination letter dated March 18, 2008, notifying the company that it was not in compliance. The reason for the noncompliance letter was due to its failure to timely file its 10K Annual Report for the year ending November 30, 2007 with the SEC. This notification is standard practice when a company fails to file a report to the SEC in a timely manner. QMed filed its 10K report March 25, 2008 before 4pm.

QMed has created innovative disease management and wellness programs for patients with, and at risk for, chronic diseases. The company has developed evidence-based clinical information management systems to be used by health care professionals. Its subsidiaries have specialized in working with high-risk Medicare beneficiaries.

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