Continental Home Healthcare Reports Third Quarter.GLENDALE, Calif.--(BUSINESS WIRE)--Dec. 6, 1999-- (CDNX CDNX See Canadian Venture Exchange (CDNX). :CHT CHT Chart CHT Center for Health Transformation (Washington, DC) CHT Chittagong Hill Tracts (Bangladesh region) CHT Certified Hypnotherapist CHT Cylinder Head Temperature CHT Certified Hand Therapist .) Continental Home Healthcare Ltd. today reported results for the third quarter and the first nine months of 1999.
Third Quarter Results: (three months ended September 30, 1999
compared with three months ended
September 30, 1998)
* Revenues were $4.7 million compared with $3.8 million
* EBITDA* (including foreign currency exchange) were $238,000
compared with $289,000
* Net earnings were $7,000 compared with $284,000
* Net earnings per share were nil basic and fully diluted
compared with $0.03 basic ($0.01 fully diluted).
Nine Month Results: (nine months ended September 30, 1999
compared with nine months ended
September 30, 1998)
* Revenues were $14.1 million compared with $9.6 million.
* EBITDA* (including foreign currency exchange) were $784,000
compared with $648,000
* Net earnings were $173,000 compared with $504,000.
* Earnings per share were $0.02 basic ($0.01 fully diluted)
compared with $0.04 basic ($0.03 fully diluted).
-------------
*Earnings before interest, taxes, depreciation and amortization
Rob Thornton, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said that both the third quarter and the nine-month performance demonstrated highly satisfactory revenue growth and that, in fact, the achievement of positive earnings was particularly gratifying grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. . He noted that the 1999 net earnings and earnings per share results exclude foreign exchange gains booked and reported in the previous year and also that significant costs had been incurred this year for the preparation of an application to list the Company's shares on a more senior exchange. The Company's successful acquisition program, starting in October 1997 and including three additional purchases in the subsequent periods, has resulted in a moderate increase in operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. , including the addition of key management and support staff. Continental's significant growth has also necessitated additional capital assets capital assets n. equipment, property, and funds owned by a business. (See: capital, capital account) such as rental inventory, which was placed into service during the year. Such expenditures, while reducing profitability in the near term, have established the foundation for longer term growth. The outlook is for a strong fourth quarter and continued substantial growth for both revenues and earnings in 2000. Continental Home Healthcare Ltd. is a provider of durable and home medical equipment to individuals and healthcare institutions. It has branches in Glendale and Indian Wells, California Indian Wells is a city in Riverside County, California, in the Coachella Valley (Palm Springs area), in between Palm Desert and La Quinta. As of the 2000 census, the city population was 3,816. It has the highest proportion of millionaires of any city in the United States. ; Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , Nevada; and British Columbia, Canada The Company's shares are traded on the Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) under the symbol "CHT". Current company updates can be found at the website: http://continentalhomehealth.com/ The Canadian Venture Exchange has neither approved nor disapproved of the contents contained herein. CONTINENTAL HOME HEALTHCARE LTD. Vancouver Office ---------------- 2655 Lillooet Street Vancouver, B.C. CANADA V5M 4P7 Telephone No. (604) 253-7136 Facsimile No. (604) 253-7193 CONTINENTAL HOSPITAL SUPPLY CORPORATION Glendale California Office -------------------------- 320 West Cerritos Avenue Glendale, California 91204 Telephone No. (818) 242-4171 Facsimile No. (818) 637-6181 |
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