Printer Friendly

PEER REVIEW ANALYSIS REPORTS SECOND QUARTER RESULTS

 PEER REVIEW ANALYSIS REPORTS SECOND QUARTER RESULTS
 MALDEN, Mass., Aug. 6 /PRNewswire/ -- Peer Review Analysis, Inc.


(NASDAQ-NMS: PRAI), a leading provider of managed health care review services, today announced financial results for the second quarter ended June 30, 1992. Revenue for the quarter increased 15.4 percent to $2.48 million compared with $2.15 million for the same period prior year. A net loss of $44,000 or $0.016 per share was reported vs. net income of $39,000 or $0.025 per share in the second quarter of 1991.
 For the six months ended June 30, 1992 revenue increased 16.9 percent to $4.84 million compared with $4.14 million for the same period prior year. A net loss of $65,000 or $0.024 per share was reported vs. net income of $194,000 or $0.125 per share in the first six months of 1991.
 Eric R. Spitzer, president and chief executive officer commented that the lower referral rate of medical care reviews by the company's largest client has had a significant impact upon both revenue and operating margins. Additionally, sales of Auto-PREP(tm) software have been slower than planned.
 Despite a lower than expected first half, revenue continues to increase. The company continues to add new clients. "PRA represents a medical model of health care utilization review which is well positioned to achieve our long-term business and financial objectives," said Spitzer.
 Founded in 1984, PRA provides a wide range of managed health care services designed to assure quality and appropriateness of medical treatment at the most reasonable cost based on its Physician-Intensive Cooperative Care Approach. PRA's services are a component of the health care programs of more than 8 million people nationwide. Its clients include major commercial health insurance companies, HMOs, third-party health care administrators and employer groups.
 PEER REVIEW ANALYSIS, INC.
 Financial Summary
 Three Months Ended
 June 30,
 1992 1991
 Revenues $2,478,880 $2,148,444
 Income (loss) before
 income taxes and
 extraordinary item (43,794) 57,712
 Provision for income taxes --- 43,000
 Income (loss) before
 extraordinary item (43,794) 14,712
 Extraordinary item - benefit
 of federal income tax
 loss carryforward --- 24,000
 Net income (loss) $(43,794) $ 38,712
 Earnings (loss) per common share:
 Income (loss) before
 extraordinary item ($0.016) $0.010
 Extraordinary item --- 0.015
 Net income (loss) ($0.016) $0.025
 Weighted average number of
 common shares and equivalents
 outstanding 2,670,000 1,548,000
 Six Months Ended
 June 30,
 1992 1991
 Revenues $4,835,009 $4,134,730
 Income (loss) before income
 from income taxes and
 extraordinary item (64,663) 220,533
 Provision for income taxes --- 92,000
 Income (loss) before
 extraordinary item (64,663) 128,533
 Extraordinary item - benefit
 of federal income tax
 loss carryforward --- 65,000
 Net income (loss) $(64,663) $193,533
 Earnings (loss)per common share:
 Income (loss) before
 extraordinary item ($0.024) $0.083
 Extraordinary item --- 0.042
 Net income (loss) ($0.024) $0.125
 Weighted average number of
 common shares and equivalent
 outstanding 2,670,000 1,548,000
 -0- 8/6/92
 /CONTACT: Eric R. Spitzer, president and CEO of Peer Review Analysis, 617-322-6400/
 (PRAI) CO: Peer Review Analysis ST: Massachusetts IN: CPR SU: ERN


PB -- NE009 -- 7794 08/06/92 17:48 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 6, 1992
Words:547
Previous Article:SONY MUSIC AND LIGHTSTORM ENTERTAINMENT ENTER INTO WORLDWIDE RECORD AND MUSIC PUBLISHING ARRANGEMENT
Next Article:DELTA AIR LINES RESOLVES COMPLAINT
Topics:


Related Articles
PEER REVIEW ANALYSIS PROJECTS YEAR END RESULTS
PEER REVIEW ANALYSIS, INC. REPORTS FIRST QUARTER RESULTS
PEER REVIEW ANALYSIS, INC. REPORTS THIRD QUARTER RESULTS
PEER REVIEW ANALYSIS, INC. ANNOUNCES FIRST QUARTER 1995 RESULTS
CORE, INC. Announces 45% Revenue Growth in First Quarter.
CORE, INC. Announces 45% Revenue Growth in First Quarter.
CORE, INC. Announces 55% Revenue Growth In Second Quarter.
CORE, INC. Announces 100% Earnings Growth in Third Quarter.
CORE, INC. Announces 32% Earnings Growth Before Charges.
CORE, INC. Announces Second Quarter Results.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters