Corporate Profile for Universal Standard Medical Laboratories Inc., dated May 17, 1996.--(BUSINESS WIRE)--The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and information services See Information Systems. . These include Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance News/Retrieval, Bloomberg Bloomberg A major global provider of 24-hour financial news and information including real-time and historic price data, financials data, trading news and analyst coverage, as well as general news and sports. Financial Markets, Reuter Company Newsyear, Reuter Business Briefing, DataTimes, Nexis, Dialog, NewsNet, America OnLine See AOL. , CompuServe, Delphi, Individual's HeadsUp and First!, Desktop Data's NewsEdge, UMI UMI University Microfilms International UMI United States Minor Outlying Islands (ISO Country code) UMI University of Miami UMI Universal Management Infrastructure (IBM) Data Courier A monospaced typeface originating from the typewriter that is commonly used for letters. It is still considered by many to be the "appropriate" typeface for business correspondence. , NewsBank, Information Access Company, Prodigy An online information service that provides access to the Internet, e-mail and a variety of databases. Launched in 1988, Prodigy was the first consumer-oriented online service in the U.S. , Comtex and many others. -0- Published date: May 17, 1996 Company name: Universal Standard Medical Laboratories Inc.
Address: 26500 Northwestern Hwy.
Southfield, MI 48076
Telephone No.: 810/358-0810 Chief Executive Officer: Eugene "Chip" Jennings Chief Financial Officer: Alan S. Ker Investor Relations Contact: Linda Thimm Business number: 810/358-0810 Trading symbol: USML Industry: Healthcare Company description: Universal Standard Medical Laboratories Inc. (USML USML United States Munitions List (22 CFR 121) USML United States Microgravity Laboratory USML UDDI Search Markup Language ) is a major regional clinical medical laboratory, providing laboratory services for over 9,000 accounts, including office-based physicians, hospitals, long-term care facilities long-term care facility n. See skilled nursing facility. , preferred provider organizations pre·ferred provider organization n. Abbr. PPO A medical insurance plan in which members receive more coverage if they choose health care providers approved by or affiliated with the plan. and health maintenance organizations, through one full service and eight limited service laboratories. USML's managed care subsidiaries provide clinical laboratory testing and home medical service coverage to employers on a capitated basis. "Covered Persons covered person, n an individual who is eligible for benefits under a dental benefits program. covered person Health insurance An insured person who is eligible for medical benefits or other services covered by a health policy " under these managed care contracts exceed 800,000 and include program members in all 50 states. -0- (In thousands except per share data)
Year Ended Dec. 31,
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1995 1994 1993 1992
_______ _______ _______ _______
Fee for service revenue $48,367 $54,264 $53,679 $35,313
Managed care revenue 18,406 15,451 12,102 9,305 Total net revenue 66,773 69,715 65,781 44,618 Income (loss before extraordinary item) $ (981) $(1,954)(a) $ 4,318 $ 3,429 Net income (loss) $ (981) $(2,121)(a) $ 4,318 $ 2,749 Earnings per share: Income (loss) before extraordinary item $ (0.15) $ (0.30)(a) $ 0.66 $ 0.68 Net income (loss) $ (0.15) $ (0.33)(a) $ 0.66 $ 0.55 Average shares outstanding and common equivalent shares 6,392 6,417 6,518 5,011 EBITDA $ 4,482 $ 2,526(a) $ 9,021 $ 8,100 EBITDA as a % of revenue 6.7% 3.6%(a) 13.7% 18.2% EBITDA before restructuring and special charge $ 4,482 $ 6,955 $ 9,021 $ 8,100 EBITDA before restructuring and special charge as a % of revenue 6.7% 10.0% 13.7% 18.2% Current ratio 1.2 to 1 1.2 to 1 1.1 to 1 1.2 to 1 Debt to capital 33.2% 33.8% 34.9% 23.1% Stockholders' equity $33,968 $34,171(a) $36,392 $32,288
(a) Includes pre-tax restructuring and special charges of
$4.4 million; $2.9 million after taxes, or $0.45 per share.
CONTACT: Universal Standard Medical Laboratories |
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