American Claims Evaluation reports fourth quarter and year end results.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)--May 23, 1996--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 consolidated revenues of $5,239,848 and net earnings of $737,638 (17 cents net earnings per share) for its fiscal year ended March 31, 1996 as compared to consolidated revenues of $5,366,130 with net earnings of $64,497 (2 cents net earnings per share) for the fiscal year ended March 31, 1995. In its fourth quarter ended March 31, 1996, the company had consolidated revenues of $1,106,150 and net earnings of 6 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. as compared to consolidated revenues of $1,232,847 with 1 cent net earnings per share for the three months ended March 31, 1995. This represents a decrease in consolidated revenues of approximately 10.3% from last year's results.
3 Months Ended Year Ended
3/31/96 3/31/95 3/31/96 3/31/95
Revenues $1,106,150 $1,232,847 $5,239,848 $5,366,130 Operating earnings (loss) 62,654 (40,629) 294,242 (304,104) Earnings before provision for income taxes 413,437 85,888 1,194,638 114,497 Net earnings 266,437 48,888 737,638 64,497 Net earnings per share of common stock $ .06 $ .01 $ .17 $ .02 Weighted average common share and common share equivalents 4,254,557 4,251,048 4,251,662 4,256,072 Net earnings have improved significantly due to increased interest income and gains on the sales of marketable securities Marketable Securities Very liquid securities that can be converted into cash quickly at a reasonable price. Notes: Marketable securities are very liquid as they tend to have maturities less than one year, and the rate at which these securities can be bought or sold has which totaled approximately $809,169 for the fiscal year ended March 31, 1996, as compared to approximately $323,319 during the previous fiscal year. Operating results for the fiscal year and three month period ended March 31, 1996 also improved dramatically over the respective periods last year due to cost saving initiatives implemented throughout the prior fiscal year. American Claims Evaluation Inc., is a health care cost containment cost containment, n the features of a dental benefits program or of the administration of the program designed to reduce or eliminate certain charges to the plan. services company in the business of verifying the accuracy of hospital bills throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. submitted to its clients for payment; such clients include commercial health insurance companies, third-party administrators, health maintenance organizations and self-insured corporate clients. Through its wholly-owned subsidiaries, RPM Rehabilitation & Associates Inc. and American Rehabilitation Services Inc., the company also 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. CONTACT: American Claims Evaluation Inc. Gary J. Knauer, 516/938-8000 |
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