Alliance HealthCard Reports First Quarterly Profit.Business Editors ATLANTA--(BUSINESS WIRE)--Jan. 23, 2004 Alliance HealthCard (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : ALHC ALHC American Lindy Hop Championships (swing dancing competition) ALHC Associate, Life & Health Claims ) today reported its un-audited results for the three months ended December 31, 2003. For the first quarter ending December 31, 2003, Alliance HealthCard reported net income of $125,785 which represents an increase of $362,585 over the comparable prior year quarter. Robert D. Garces, Chairman and Chief Executive Officer, commented on the results of operations: "Alliance's profitability is a result of savings generated by new provider networks, moving all of the call center functions in house, and new business revenue. The infrastructure improvements and new business development we have implemented over the last year are now being effective, as the company moves into a period of both growth and profitability for the first time in our short history. The Company has also been successful in signing two new agreements that will launch in January and February of 2004." Mr. Garces also commented on the new Medicare legislation: "The new Medicare legislation signed by President Bush on December 8, 2003 contains many significant changes to the Medicare program for the elderly and disabled. The Medicare Prescription Drug prescription drug Prescription medication Pharmacology An FDA-approved drug which must, by federal law or regulation, be dispensed only pursuant to a prescription–eg, finished dose form and active ingredients subject to the provisos of the Federal Food, Drug, Improvement and Modernization modernization Transformation of a society from a rural and agrarian condition to a secular, urban, and industrial one. It is closely linked with industrialization. As societies modernize, the individual becomes increasingly important, gradually replacing the family, Act (MPDIMA MPDIMA Medicare Prescription Drug Improvement and Modernization Act of 2003 ) of 2003 act makes the most comprehensive changes to Medicare since it was enacted in 1965. MPDIMA presents both a threat and an opportunity for the Company. While the focus of MPDIMA is on prescription drugs for Medicare beneficiaries, there are a number of changes that create new opportunities for the Company's discount cards." Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 provides a "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " for forward-looking statements. This press release contains forward-looking statements regarding the intent, belief or current expectations of the Company and members of its senior management team. While the Company believes that its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that would cause actual results to differ materially from those contemplated within this press release include, but are not limited to, those associated with general business conditions; client concentration; dependence on network providers; the timely and efficient implementation of customer contracts; developments in health care reform and other regulatory issues and changes in laws and regulations in key states where the Company operates; future capital needs; control by directors and officers; and the loss of key management personnel. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company disclaims any obligation to publicly update or revise any forward-looking statements contained herein to reflect events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or occurring after the date of this release or to reflect the occurrence of unanticipated events. |
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