Printer Friendly

QUAL-MED ANNOUNCES THIRD QUARTER GAINS

 QUAL-MED ANNOUNCES THIRD QUARTER GAINS
 PUEBLO, Colo., Nov. 14 /PRNewswire/ -- Qual-Med Inc.


(NASDAQ: QLMD) today reported that its revenues for the third quarter ended Sept. 30, 1991 increased 86 percent to $70.6 million compared to revenues of $37.9 million for the same quarter last year. Earnings rose 219 percent to $5.7 million or $0.34 per share, compared to last year's third quarter earnings of $1.8 million or $0.16 per share.
 For the nine months ended Sept. 30, Qual-Med reported revenues of $212.8 million for an increase of 105 percent over revenues of $104.0 million for the same period a year ago. Net income for the nine months increased 357 percent to $13.9 million or $1.04 per share compared to last year's income of $3.1 million or $0.30 per share.
 Dr. Malik Hasan, chairman, president, and chief executive officer, said that Qual-Med is continuing to engage in increasing its marketing activities, upgrading its management information system capabilities and considering potential acquisitions. "We are hopeful that the investments in these activities will lead to continued growth," he said.
 Qual-Med, headquartered in Pueblo, provides comprehensive health care services to approximately 224,000 members in California, Colorado, Idaho, New Mexico, Oregon, and Washington. Its members pay a fixed monthly premium for services rendered and choose among a broad network of independent primary care physicians.
 QUAL-MED, INC.
 Quarter, Sept. 30,
 1991 1990
 Revenues $70,588,000 $37,865,000
 Net Income $ 5,740,000 $ 1,801,000
 Average Shares 17,072,553 11,112,885
 Net Income Per Share(a) $0.34 $0.16
 Nine Months, Sept. 30,
 1991 1990
 Revenues $212,780,000 $103,974,000
 Net Income $ 13,949,000 3,053,000
 Average Shares 13,439,314 10,091,796
 Net Income Per Share(a) $1.04 $0.30
 (a) Primary
 -0- 11/14/91
 /CONTACT: Keith Hovland EVP, finance and administration of Qual-Med, Inc., 719-542-0500/
 (QLMD) CO: Qual-Med Inc. ST: Colorado IN: HEA SU: ERN SE -- LA003 -- 4254 11/14/91 08:33 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 14, 1991
Words:345
Previous Article:TRANSROLL/SEA-LAND SET SAIL FOR BRAZIL
Next Article:BURTON GROUP REPORTS PRELIMINARY RESULTS FOR YEAR
Topics:


Related Articles
QUAL-MED AND PHN SIGN LETTER OF INTENT FOR MERGER
QUAL-MED AND PHN SIGN LETTER OF INTENT FOR MERGER
QUAL-MED CHANGES OFFER TO ACQUIRE HEALTH NET TO ALL CASH
OREGON COURT RULES IN FAVOR OF QUAL-MED INC.
QUAL-MED ANNOUNCES LETTER OF INTENT TO ACQUIRE COMPLETE HEALTH
QUAL-MED ANNOUNCES 1991 RESULTS
NU-MED INC. REPORTS RESULTS
QUAL-MED ANNOUNCES FIRST QUARTER RESULTS
QUALMED ANNOUNCES THIRD QUARTER RESULTS
MEDIQ REPORTS SIGNIFICANT IMPROVEMENT FOR THIRD QUARTER FISCAL 1995

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