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Continental Choice Care, Inc. Announces Year End Results.


FLORHAM PARK, N.J.--(BUSINESS WIRE)--April 14, 1998--Continental Choice Care, 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
 National Market: CCCI CCCI Campus Crusade for Christ International
CCCI Cebu Chamber of Commerce and Industry (Philippines)
CCCI Central Criminal Court of Iraq
CCCI Crossroads Christian Communications Inc.
 (common); CCCIW (warrants); CCCIU (units)) ("CCCI") today announced results for the year ended December 31, 1997 (See attached table).

In October 1997, Continental completed the sale of substantially all of its assets, and the assets of its subsidiaries other than Renal Management, Inc., to IHS IHS

(I.H.S.) first three letters of Greek spelling of Jesus; also taken as acronym of Iesus Hominum Salvator ‘Jesus, Savior of Mankind.’ [Christian Symbolism: Brewer Dictionary, 480]

See : Christ



IHS
 of New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
, Inc. ("IHS"). In addition, Alpha Administration Corp. and Continental Dialysis Center of the Bronx, Inc., New York consulting customers of Continental, sold substantially all of their respective assets to IHS. The aggregate price paid by IHS in the transactions was $5,120,000 plus an additional $1,000,000 payable over three years pursuant to a consulting arrangement between IHS and Continental. As previously announced, in January 1998 Upper Manhattan Upper Manhattan denotes the more northerly region of the New York City Borough of Manhattan. Its southern boundary may be defined anywhere between 59th Street and 155th Street.  Dialysis Center, Inc. ("UMDC UMDC Universal Medical Device Code "), Continental's other consulting customer, sold substantially all of its assets to Renal Research Institute, LLC (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control
. Continental expects to receive approximately $4,500,000 as a result of the UMDC transaction. Of that amount, the Company received approximately $2,600,000 at the Initial Closing on January 29, 1998. The Company expects to receive the remainder over the period which began following the Initial Closing and ends in the first quarter following regulatory approval of the transaction, which is anticipated by the fourth quarter of 1998.

Steven Trenk, Continental's President, stated, "The proceeds from this sale and our strategic position will enhance shareholder value by allowing us to explore numerous acquisition and/or merger opportunities both within and outside of the healthcare industry. We are actively exploring several such opportunities and remain excited about the prospects for Continental."

Net income for the 1997 year was $1,324,229, or $.41 per diluted share, versus a net loss of $331,874, or $.10 per diluted share, last year. Net income for the 1997 year includes income from discontinued operations Discontinued operations

Divisions of a business that have been sold or written off and that no longer are maintained by the business.
 of $2,900,080, or $.90 per diluted share, resulting from the aforementioned sale of substantially all of the owned businesses of Continental.

Continental's securities do not currently meet the continuing listing requirements Listing requirements

Requirements, including minimum shares outstanding, market value, and income, that are laid down by an exchange for any stock to be listed for trading.
 for the National Market System adopted by Nasdaq in February 1998. Although Continental is considering steps necessary to comply with the current listing requirements, no assurance can be given that Nasdaq will not determine that the Company constitutes a public shell or otherwise delist delist

To drop a security from trading on an organized exchange. Delisting may occur for a number of reasons including failure to meet an exchange's standards or placement of a new listing on another exchange. Compare list.
 the Company's securities from the National Market System.

This press release contains forward looking statements which involve numerous risks and uncertainties. The Company's actual results could differ materially from those anticipated in such forward looking statements as a result of certain factors, including those set forth in the Company's filings with the Securities and Exchange Commission. Investors are specifically advised to review the Company's Annual Report on Form 10-K Form 10-K

A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.


Form 10-K

See 10-K.
 for the fiscal year ended December 31, 1997.

-0-

             CONTINENTAL CHOICE CARE, INC. AND SUBSIDIARIES
                  Consolidated Statements of Operations
             For the Years Ended December 31, 1997 and 1996


                                           1997            1996

Income (loss) from continuing operations,
 net of income tax                      $ (1,575,851)   $  29,526

Income (loss) from discontinued
 operations, net of income tax             2,900,080     (361,400)

    Net income (loss)                     $1,324,229    $(331,874)

Basic and diluted income (loss) per share:
   Continuing operations                    $   (.49)     $   .01
   Discontinued operations                       .90         (.11)
   Net income (loss) per share             $     .41      $  (.10)

Basic weighted average shares outstanding  3,237,500    3,237,500
Diluted weighted average shares
 outstanding                               3,250,100    3,237,500





CONTACT: Continental Choice Care, Inc.

Steven L. Trenk, President

(973) 593-0500 ext. 130
COPYRIGHT 1998 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1998, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Apr 14, 1998
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