Continucare reports first quarter results.MIAMI--(BUSINESS WIRE)--Nov. 14, 1996--Continucare Corp. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :CNU CNU Christopher Newport University CNU Chungnam National University (Korea) CNU Congress for the New Urbanism CNU Chonnam National University (Korea) CNU Consiglio Nazionale degli Utenti ) reported its results of operations for the quarter ended Sept. 30, 1996. Continucare Corp. which develops and manages mental and physical rehabilitation physical rehabilitation See Physical therapy. health care programs, had total revenues of approximately $2.9 million for the quarter and net income of approximately $644,000. Primary and 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 was approximately $0.09 on approximately 7.1 million and 7.5 million weighted average number of shares, respectively. The Company's cash flows from operations for the quarter was approximately $570,000. No comparative data is available for the quarter ended Sept. 30, 1995 as the current operating entity commenced its operations in February 1996. During the quarter the Company effectuated the private sale of its common stock, raising approximately $6.6 million. "We are pleased with our success. Although a young company, Continucare has experienced progressive growth in revenues and net earnings. Our goal is to continue this trend." said Charles M. Fernandez, Chairman of the Board, President and Chief Executive Officer. At Sept. 30, 1996, the Company had management contracts with five general acute care hospitals, one free-standing psychiatric hospital psychiatric hospital n. A hospital for the care and treatment of patients affected with acute or chronic mental illness. Also called mental hospital. , 16 community mental health centers and one comprehensive outpatient rehabilitation facility. CONTACT: Continucare Corp., Miami Charles M. Fernandez, 305/350-7515 |
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