DRCA Medical announces earnings on record first quarter revenues.HOUSTON--(BUSINESS WIRE)--May 8, 1996--DRCA Medical Corp. (AMEX AMEX See: American Stock Exchange :DRC DRC Democratic Republic of Congo DRC Down (Stage) Right Center DRC Director(ate) of Reserve Components DRC Disability Rights Commission (United Kingdom) ) today reported record first quarter revenues of $4,061,697, up 13% over the $3,589,408 reported for the same period last year. During the first quarter of 1996, the company separated its Little Rock, Arkansas Little Rock, Arkansas required military intervention to desegregate schools (1957–1958). [Am. Hist.: Van Doren, 556–557] See : Bigotry , Physician Practice Management Division and Ancillary Services Division into two separate subsidiaries. One of the two subsidiaries (including the Little Rock, Ark., MRI 1. (application) MRI - Magnetic Resonance Imaging. 2. MRI - Measurement Requirements and Interface. ) was subsequently sold. Earnings for the first quarter of 1996 included before tax operating losses and other charges related to the sale of this subsidiary of $171,663 (an after tax equivalent of 2 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. ). After recording the above charges, earnings reported for the quarter were $84,473, or 2 cents per share as compared to $246,060, or 5 cents per share in 1995. As DRCA DRCA Deer Run Community Association (Calgary, Alberta, Canada) DRCA Dynamic Rate-Control Algorithm closes the first quarter, it is positioned to follow two complimentary courses of expansion: (1) as a consolidator of orthopedic medicine practices in the rapidly expanding Physician Practice Management segment of the healthcare market and (2) as a marketer and manager of vertically integrated managed occupational healthcare programs. During the first quarter, DRCA increased its bank credit facilities by $2.0 million to $4.3 million and on April 17, 1996 closed an additional $2.5 million financing to support these expansion strategies. The company is actively pursuing practice acquisitions in each line of business, strategic relationships with additional sources of expansion capital, and corporate merger and acquisition opportunities. DRCA Medical Corp. is a Physician Practice Management company specializing in consolidating "gatekeepers" of musculoskeletal medicine (orthopedics, physical medicine and rehabilitation physical medicine and rehabilitation or physiatry or physical therapy or rehabilitation medicine Medical specialty treating chronic disabilities through physical means to help patients return to a comfortable, productive life despite a medical , occupational medicine, and mobile health testing) and the diagnostic and rehabilitation services commonly associated with musculoskeletal injuries. CONTACT: DRCA Medical Corp., Houston Jose E. Kauachi, 713/439-7511 |
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