By: Dylan Sikes - AllPennyStocks.com News

Wednesday, November 9, 2016

The U.S. Presidential election on Tuesday yielded a historic result as Republican nominee Donald Trump will become the next U.S. President, starting January. Up until last week, Trump’s chances of winning looked slim. However, the market’s reaction to the election results has been positive. All three major indexes in the U.S. were sharply higher today’s trading. The reaction globally though was mixed. Asian markets closed sharply lower overnight. Markets in Europe though finished sharply higher. Defensives, which were seen as overvalued have taken a hit in trading today as risk appetite has returned to the market. Market sentiment has been likely lifted by the fact that the uncertainty surrounding the U.S. elections is now over.

Although the broader market is gaining momentum, shares of Auxilio Inc. (OTCQB:AUXO) are down in trading today. Based in Mission Viejo, California, Auxilio is engaged in the business of providing outsourced print management services and cyber security professional services to the healthcare industry, and also to financial institutions, gaming and other industries.

Auxilio shares are down in trading today after the company reported its financial results for the third quarter of 2016. For the quarter, AUXO reported net income of $0.7 million, or $0.03 per basic and diluted share, compared to net income of $0.5 million, or $0.02 per share reported for the same period in the previous year. Adjusted income from operations for the third quarter was $1 million, compared to $0.9 million reported for the same period in the previous year. Gross margin for the quarter was 23%, compared to 18% reported for the same period in the previous year. Gross margin in the previous quarter stood at 20%.

AUXO’s revenue for the quarter was $14.3 million, down 9% from the same period in the previous year.

Joseph J. Flynn, President and CEO at Auxilio, said that the company is pleased with its operational performance for the quarter, as it posted strong bottom line results while also executing on strategic initiatives laid out earlier in the year. Flynn further said that with the demand from major health systems to find solutions to reduce costs, improve efficiency and offer greater IT security, the company is pursuing significant opportunities to expand its product and service offerings with high margin revenue streams that are recurring in nature.

At last check, Auxilio shares were trading 1.22% lower at $0.810 on volume of 32,759, up from daily average volume of 9,673.

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