Printer Friendly

AMERICAN CLAIMS EVALUATION ANNOUNCES THIRD QUARTER AND NINE MONTHS RESULTS

        AMERICAN CLAIMS EVALUATION ANNOUNCES THIRD QUARTER AND
                        NINE MONTHS RESULTS
    JERICHO, N.Y., Jan. 23 /PRNewswire/ -- American Claims Evaluation, Inc. (NASDAQ-NMS: AMCE) today announced revenues of $1,972,819 and net earnings of $372,899 or $.09 per share for the three-month period ended Dec. 31, 1991, resulting in a 30 percent increase in revenues and a 300 percent increase in net earnings per share as compared to the three- month period ended Dec. 31, 1990.
    Revenues were $5,766,161 with net earnings of $.25 per share for the nine-month period ended Dec. 31, 1991, as compared to revenues of $4,195,410 and net earnings of $.10 per share for the comparable period ended Dec. 31, 1990; the nine-month figures indicate an increase in revenues and net earnings of approximately 37 percent and 250 percent, respectively, over last year's comparable results.
                    AMERICAN CLAIMS EVALUATION, INC.
      Periods ended            Three Months            Nine Months
      Dec. 31                1991        1990        1991        1990
    Revenues              $1,972,819  $1,519,305  $5,766,161  $4,195,410
    Operating earnings       498,577     121,698   1,413,775     453,999
    Earns. bef. provision
     for income taxes        590,399     181,769   1,638,648     631,130
    Net earnings          $  372,899  $  109,169  $1,025,648  $  378,630
    Net earns. per share
     of common stock (A)        $.09        $.03        $.25        $.10
    (A) -- Earnings per share is based upon weighted average shares outstanding of 4,158,886 and 3,914,444 as of Dec. 31, 1991 and 1990, respectively, as restated for a two-for-one stock split declared Oct. 1, 1991, and paid Nov. 12, 1991.
    Gary 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.
    -0-                      1/23/92
    /CONTACT:  Gary J. Knauer, chief financial officer of American Claims Evaluation, 516-938-8000/
    (AMCE) CO:  American Claims Evaluation, Inc. ST:  New York IN:  HEA SU:  ERN FC-GK -- NY013 -- 2621 01/23/92 08:47 EST
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:Jan 23, 1992
Words:401
Previous Article:SHELL CANADA LIMITED ANNOUNCES 1991 FINANCIAL RESULTS
Next Article:ECOGEN RECEIVES PATENTS FOR TWO OF ITS PRODUCTS
Topics:


Related Articles
AMERICAN CLAIMS EVALUATION ANNOUNCES FIRST QUARTER RESULTS
AMERICAN CLAIMS EVALUATION ANNOUNCES FIRST QUARTER RESULTS
BIOMAGNETIC TECHNOLOGIES INC. REPORTS RESULTS FOR THIRD FISCAL QUARTER 1992
BIOMAGNETIC TECHNOLOGIES INC. REPORTS RESULTS FOR THIRD FISCAL QUARTER 1992
AMERICAN CLAIMS EVALUATION, INC. ANNOUNCES THIRD QUARTER AND NINE MONTHS RESULTS
AMERICAN CLAIMS EVALUATION, INC. ANNOUNCES THIRD QUARTER AND NINE MONTHS RESULTS
AMERICAN CLAIMS EVALUATION, INC. REPORTS SECOND QUARTER AND SIX MONTHS RESULTS
AMERICAN CLAIMS EVALUATIONS INC. REPORTS THIRD QUARTER AND NINE MONTHS RESULTS
AMERICAN CLAIMS EVALUATION, INC. REPORTS THIRD QUARTER AND NINE MONTH RESULTS
American Pacific Reports Third Quarter Results.

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters