Printer Friendly

AMERICAN CLAIMS EVALUATION, INC. REPORTS 34 PERCENT INCREASE IN REVENUES AND 135 PERCENT IN NET EARNINGS FOR YEAR

 AMERICAN CLAIMS EVALUATION, INC. REPORTS 34 PERCENT INCREASE
 IN REVENUES AND 135 PERCENT IN NET EARNINGS FOR YEAR
 JERICHO, N.Y., May 12 /PRNewswire/ -- American Claims Evaluation, Inc. (NASDAQ: AMCE) today announced revenues of $7,873,334 and net earnings per share of 35 cents for its fiscal year ending March 31, 1992 as compared to revenues of $5,897,350 and net earnings of 16 cents per share for the comparable period ended March 31, 1991. This reflects an increase in revenues and net earnings of approximately 34 percent and 135 percent, respectively, over last year's comparable figures.
 In its fourth quarter ending March 31, 1992, the company had sales of $2,107,173 and earnings per share of 10 cents as compared to sales of $1,701,940 and net earnings of 6 cents per share for the comparable period, reflecting an increase in revenues of approximately 24 percent and an increase in net earnings of approximately 79 percent over last year's comparable period.
 AMERICAN CLAIMS EVALUATION, INC.
 Period ended Three months Year
 3/31/92 3/31/91 3/31/92 3/31/91
 Revenues $2,107,173 $1,701,940 $7,873,334 $5,897,350
 Operating earnings 607,540 262,194 2,021,315 716,193
 Earnings before
 provision for
 income taxes 693,988 354,308 2,332,636 985,438
 Net earnings 439,988 245,808 1,465,636 624,438
 Net earnings per share
 of common stock .10 .06 .35 .16
 Weighted average
 common share and
 common share
 equivalents(A) 4,259,199 4,069,598 4,194,141 3,947,117
 (A) As restated for a two-for-one stock split declared Oct. 2, 1991
 Mr. Gelman, chairman of the board and chief executive officer, stated he was very pleased with the continuing increase in sales and earnings over comparable prior periods.
 American Claims Evaluation, Inc. is a health care cost containment services company in the business of verifying the accuracy of hospital bills throughout the United States submitted to its clients for payment; such clients include commercial health insurance companies, third party administrators, health maintenance organizations and self-insured corporate clients. The company's services are designed to enable its clients to pay only for those medical services that were actually provided to the patient.
 For further information contact: Gary J. Knauer, chief financial officer, American Claims Evaluation, Inc., 375 North Broadway, Jericho, NY 11753; telephone, 516-938-8000.
 -0- 5/12/92
 /CONTACT: Gary J. Knauer, chief financial officer of American Claims Evaluation, 516-938-8000/
 (AMCE) CO: American Claims Evaluation, Inc. ST: New York IN: SU: ERN


TQ-OS -- NY031 -- 9044 05/12/92 10:49 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:May 12, 1992
Words:439
Previous Article:ENRON EUROPE, WING-MERRILL AND GAMA SIGN PROTOCOL OF INTENT TO PURSUE POWER PLANT IN TURKEY
Next Article:ABB UNIT SELECTED FOR ARAMCO PROJECT IN SAUDI ARABIA
Topics:


Related Articles
AMERICAN CLAIMS EVALUATION ANNOUNCES THIRD QUARTER AND NINE MONTHS RESULTS
HUMANA REPORTS EARNINGS PER SHARE DECLINED 4 PERCENT IN SECOND QUARTER
AMERICAN CLAIMS EVALUATION ANNOUNCES FIRST QUARTER RESULTS
AMERICAN CLAIMS EVALUATION ANNOUNCES FIRST QUARTER RESULTS
AMERICAN CLAIMS EVALUATION, INC. ANNOUNCES SECOND QUARTER AND SIX MONTHS RESULTS
HEALTHSOURCE, INC. REPORTS 38 PERCENT INCREASE IN EARNINGS PER SHARE;
AMERICAN CLAIMS EVALUATION, INC. ANNOUNCES THIRD QUARTER AND NINE MONTHS RESULTS
AMERICAN CLAIMS EVALUATION, INC.REPORTS FOURTH QUARTER AND YEAR END RESULTS
AMERICAN CLAIMS EVALUATION REPORTS FIRST QUARTER RESULTS
VALUE HEALTH, INC. REPORTS RECORD FIRST QUARTER 1994 RESULTS

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