CHILDREN'S COMPREHENSIVE SERVICES ANNOUNCES RECORD RESULTS FOR FOURTH QUARTER AND FISCAL 1995.MURFREESBORO, Tenn.--(BUSINESS WIRE)--May 18, 1995--William J Ballard, President and Chief Executive Officer of Children's Comprehensive Services, Inc. ("CCS (1) (Common Channel Signaling) A communications system in which one channel is used for signaling and different channels are used for voice/data transmission. Signaling System 7 (SS7) is a CCS system, also known as CCS7. See SS7. ") (Nasdaq/NM: KIDS), today announced record financial results for the fourth quarter and fiscal year ended March 31, 1995. For the quarter, total revenue increased 15.8% to $5,958,000 from $5,143,000 for the fourth quarter of fiscal 1994. Net income for the quarter tripled to $659,000 from $216,000 for the comparable quarter the prior year. Fully diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of for the latest quarter rose 200% to $0.06 from $0.02 for the last quarter of fiscal 1994. Total revenues for fiscal 1995 increased 8.6% to $21,109,000 from $19,438,000 for fiscal 1994. Net income for fiscal 1995 was $1,904,000, or $0.19 per fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share, up from $307,000, or $0.04 per fully diluted share, for the prior fiscal year. "We are very proud of the Company's financial results for the fourth quarter and for fiscal 1995," said Mr. Ballard. "For the year, CCS achieved record profitability, completed a major financial restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). and embarked on an aggressive marketing strategy. Concurrently, results of operations were significantly improved for Helicon Helicon (hĕl`ĭkŏn), Gr. Elikón, mountain group, c.20 mi (30 km) long, central Greece, in Boeotia; it rises to 5,736 ft (1,748 m). Helicon formed part of the border between ancient Boeotia and Phocis. , Inc., a not-for-profit Not-for-profit An organization established for charitable, humanitarian, or educational purposes that is exempt from some taxes and in which no one in profits or losses. company whose programs, also directed to at-risk youth, are managed by CCS. "We enter fiscal 1996 committed to seeking profitable growth for CCS by increasing the scope of programs with existing customers; replicating certain of CCS's most promising programs on a broader scale; and expanding CCS geographically. With the strengthening of CCS's financial condition during fiscal 1995, we can devote significantly greater managerial resources to marketing than in prior years. Progress toward our marketing objectives continues, and we expect positive results from these efforts in the current fiscal year." Children's Comprehensive Services provides, either directly or through management contracts, education and treatment services for at-risk youth. It currently offers these services through the operation and management of special education schools and both open and secured residential treatment centers A residential treatment center, often referred to by the acronym RTC, is a live-in therapy/behavior modification facility for adolescents who suffer from a variety of emotional conditions, ranging from drug abuse to violence to sexual behavioral problems. for local, state and federal government agencies in Alabama Alabama, indigenous people of North America Alabama (ăləbăm`ə), indigenous people of North America whose language belongs to the Muskogean branch of the Hokan-Siouan linguistic stock (see Native American languages). , California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). , Louisiana Louisiana (ləwē'zēăn`ə, l  ē'–), state in the S central United States. It is bounded by Mississippi, with the Mississippi R. and Tennessee Tennessee, state, United StatesTennessee (tĕn`əsē', tĕn'əsē`), state in the south-central United States. . -0-
CHILDREN'S COMPREHENSIVE SERVICES, INC.
Financial Highlights
Three Months Ended Twelve Months Ended
March 31, March 31,
1995 1994 1995 1994
Operating revenue $5,786,000 $5,137,000 $20,575,000 $18,849,000
Other revenue 172,000 6,000 534,000 589,000
Total revenue $5,958,000 $5,143,000 $21,109,000 $19,438,000
Net income $ 659,000 $ 216,000 $ 1,904,000 $ 307,000
Net income per common
share:
Primary $ 0.06 $ 0.02 $ 0.19 $ 0.05
Fully diluted $ 0.06 $ 0.02 $ 0.19 $ 0.04
Weighted average common
shares and equivalents
outstanding:
Primary 11,134,000 9,966,000 10,090,000 7,271,000
Fully diluted 11,134,000 9,966,000 10,231,000 7,513,000
March 31, March 31,
1995 1994
Cash $ 69,000 $ 178,000
Current assets 3,901,000 3,815,000
Total assets $19,449,000 $20,146,000
Current bank debt $ -0- $ 7,446,000 Current liabilities 2,479,000 13,662,000 Long-term debt 6,924,000 8,000 Stockholders' equity 9,456,000 5,786,000 Total liabilities and stockholders' equity $19,449,000 $20,146,000 CONTACT: Children's Comprehensive Services, Murfreesboro Donald B. Whitfield, 615/896-3100 |
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