Alliance HealthCard Reports Second Consecutive Quarterly Profit.Business Editors ATLANTA--(BUSINESS WIRE)--April 30, 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 and six months ended March 31, 2004. Alliance HealthCard reported record earnings for the quarter ended March 31, 2004, of $211,924 compared to a net loss of $193,885 for the comparable prior year quarter. Net income for the six months ended March 31, 2004 was $337,612, an increase of $768,297 over the prior year period. The Company reported revenue of $950,756, which represents a 9% decrease compared to the prior year quarter. Revenue for the six months ended March 31, 2004 was $1,961,921, a decrease of $138,682 for the same prior year period. Robert D. Garces, Chairman and Chief Executive Officer, commented on the results of operations: "Alliance's year to date profitability is a result of new business development, a reduction of royalty expense associated with an existing contract, and savings generated by new provider networks. The reduction in revenue is the result of the Company's Pharmacy Benefit Manager (PBM PBM - play by mail. See play by electronic mail. ) billing one of Alliance's client's directly. In addition to expense savings, the Company entered into an agreement with iCan HealthPlans of Miami, Florida “Miami” redirects here. For the Native American tribe, see Miami tribe. Miami is a major city in southeastern Florida, in the United States. It is the county seat of Miami-Dade County. Miami is a gamma world city with an estimated population of 404,048. . iCan will be able to distribute the Alliance discount cards through its nationwide network of over 10,000 retail outlets retail outlet n → punto de venta retail outlet n → point m de vente retail outlet retail n → , allowing consumers immediate access to the Company's prescription, dental and other savings programs. We are also pleased with the Company's dynamic pipeline of potential new business," Garces added. 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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