American Claims Evaluation, Inc. Reports Second Quarter and Six Months Results.Business Editors JERICHO Jericho, city, West Bank Jericho (jĕr`ĭkō) [Heb.,=fragrant, or city of the moon god], Arab. Ariha, town (2003 est. pop. , N.Y.--(BUSINESS WIRE)--Nov. 4, 2002 American Claims Evaluation, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AMCE AMCE Appliance Manufacturer Conference & Expo ) announced revenues of $612,465 with a loss of $.03 per share for the six months ended September 30, 2002 as compared to revenues of $647,886 with a net loss of $.02 per share for the corresponding period ended September 30, 2001.
3 Months Ended 6 Months Ended
(Unaudited) (Unaudited)
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09/30/02 09/30/01 09/30/02 09/30/01
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Revenues $ 299,999 $323,297 $612,465 $647,886
Operating loss (120,850) (108,620) (227,485) (241,539)
Loss before benefit
from income taxes (81,779) (33,903) (148,474) (71,344)
Net loss (63,779) (30,903) (112,474) (64,344)
Net loss per share:
Basic $ (.01) $ (.01) $ (.03) $ (.02)
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Diluted $ (.01) $ (.01) $ (.03) $ (.02)
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Weighted average common
shares outstanding:
Basic 4,259,800 4,273,500 4,259,800 4,273,500
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Diluted 4,259,800 4,273,500 4,259,800 4,273,500
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Selling, general and administrative expenses for the three months and six months ended September 30, 2001 included amortization of goodwill of $8,106 and $16,212, respectively. No such amortization expense was recognized in the three months and six months ended September 30, 2002 due to the Company's adoption of Statement of Financial Accounting Standards No. 142, "Goodwill and Other Intangible Assets Intangible Asset An asset that is not physical in nature. Notes: Examples are things like copyrights, patents, intellectual property, and goodwill. These are the opposite of tangible assets. ," effective April 1, 2002. The Company continues its search for suitable acquisition candidates. Potential acquisitions will be evaluated based on their merits within the Company's remaining line of business, as well as other fields. Except for the historical information herein, the matters discussed in this press release are 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. that involve risks and uncertainties, including risks detailed from time to time in the Company's SEC reports, including the report on Form 10-KSB for the fiscal year ended March 31, 2002. American Claims Evaluation, Inc., through its wholly-owned subsidiary, RPM (1) (Revolutions Per Minute) With electric and electronics devices, RPM measures the rotational speed of the motor's spindle. Floppy disks rotate at 300 RPM, while hard disks rotate from 3,000 to 15,000 RPM. Rehabilitation rehabilitation: see physical therapy. & Associates, Inc., offers a full range of vocational rehabilitation Noun 1. vocational rehabilitation - providing training in a specific trade with the aim of gaining employment rehabilitation - the restoration of someone to a useful place in society and disability management services. |
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