AMCARE'S NINE MONTH'S PROFITS UP 94 PERCENT
AMCARE'S NINE MONTH'S PROFITS UP 94 PERCENT CINCINNATI, MAY 12 /PRNewswire/ -- Ambulatory Medical Care, Inc.
(NASDAQ: AMED), an operator of urgent care offices under the tradename Doctors' Urgent Care Office, announced another strong quarter ended March 31, 1992, with profits up 33-1/2 percent. Patient revenues were $1,579,737, management fees $1,237,151 and profits $192,196 or $.15 per share. This compares most favorably with $1,516,997, $1,128,873 and $143,957 or $.12 for the same period last year respectively.
For the nine months ended March 31, 1992 patient revenues are up 10-1/2 percent, management fees up 17-1/4 percent and profits up 94 percent. Management feels that the future of health care resides in alternative health care delivery systems and sites, especially those that provide high quality care and service while meeting the demands for cost containment and cost efficiency. AmCare's "Doctors' Urgent Care Offices" are such facilities and consequently management is optimistic about the future of the company. C.L. Decker, president, said that the company's stock appears considerably undervalued at a price/earnings ratio of under 7, while other niche health care companies sell at multiples in excess of 20. Quarter Ending March 31 1992 1991 Patient Revenues of Medical Corporations $1,579,737 $1,516,997 Management Fees $1,237,151 $1,128,873 Income Before Taxes 194,137 145,411 Federal Income Taxes 1,941 1,454 Net Income 192,196 143,957 Earnings Per Share $.15 $.12 (fully diluted) Nine Months Ending March 31 1992 1991 Patient Revenues of Medical Corporations $4,921,368 $4,448,494 Management Fees $3,832,425 $3,268,071 Income Before Taxes 611,510 314,680 Federal Income Taxes 6,115 3,185 Net Income 605,395 311,495 Earnings Per Share $.49 $.26 (fully diluted) -0- 5/12/92 /CONTACT: Jerry Decker of Ambulatory Medical Care, Inc., 513-831-5955/ (AMED) CO: Ambulatory Medical Care, Inc. ST: Ohio IN: HEA SU: ERN
BM -- CL018 -- 9215 05/12/92 14:36 EDT
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|Date:||May 12, 1992|
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