Printer Friendly

CRITICAL CARE AMERICA REPORTS SALES AND EARNINGS

 CRITICAL CARE AMERICA REPORTS SALES AND EARNINGS
 NASHUA, N.H., April 23 /PRNewswire/ -- Critical Care America, Inc.


(NYSE: CRA) today reported sales and earnings for the first quarter ended March 31, 1992. Revenues for the quarter were $65.5 million, an increase of 31 percent over the $49.9 million recorded for the same period in 1991. Net income for the quarter was $7.3 million or 33 cents per share, an increase of 55 percent and 38 percent respectively over the first quarter of 1991 excluding the effect of merger and restructuring expenses relating to the Company's February 1991 merger with CarePlus.
 "Our first quarter results reflect a continuation of the strategic momentum built in 1991", said Patrick S. Smith, Chairman and Chief Executive Officer.
 "Strong revenue growth, in excess of 30 percent at our existing service centers and improved operating margins result from the continued introduction of new services and the successful implementation of our 1991 expansion strategy. We have realized these successes by continuing the focus on high quality patient service, as our founding principle.
 "The first quarter of 1992 marks the beginning of the next phase of our long-term strategic objective to expand our health care delivery system to alternative sites. We were able to expand our management team to take advantage of the opportunities in the ambulatory outpatient surgery business without sacrificing our short term financial objectives.
 "Our continued innovation, strategic focus and strong financial position will result in similar successes in 1992", said Smith. Prior period results have been restated to reflect 1991 mergers accounted for as pooling-of-interests.
 Critical Care America's executive offices are located at 20 Trafalgar Square, Nashua, NH 03060. The Company's Infusion Services Division, headquartered in Westborough, Mass., provides infusion therapies to patients in their homes across the United States. Infusion therapies involve the administration of nutrients, antibiotics and other drugs and fluids intravenously or through a feeding tube. The infusion therapies provided by the Company include home parenteral nutrition therapy, home antibiotic therapy, home enteral nutrition therapy, chemotherapy, pain management therapy, hydration therapy and congestive heart failure therapy. The shares of the Company's common stock are traded on the New York Stock Exchange under the symbol CRA.
 CRITICAL CARE AMERICA, INC.
 Concsolidated Statement of Operations
 Three Months Ended March 31, 1992 AND 1991
 (In Thousands, Except Per Share Data)
 March 31,
 1992 1991
 Revenues $65,485 $49,893
 Cost of revenues 35,345 27,016
 Gross profit 30,140 22,877
 Gross margin 46.0 pct. 45.9 pct.
 Selling, general and
 administrative expenses 13,613 11,006
 Provision for doubtful
 accounts 5,225 4,047
 Restructuring charge - 14,800
 Operating income (loss) 11,302 (6,976)
 Interest income, net 699 93
 Other income (expense) 20 (62)
 Income (loss) before income
 taxes 12,021 (6,945)
 Provision for (benefit from)
 income taxes 4,724 (1,002)
 Net income (loss) $7,297 $(5,943)
 Income (loss) per share:
 Primary and Fully diluted 33 cents (30 cents)
 Average shares outstanding:
 Primary 22,381 19,584
 Fully diluted 22,381 19,842
 Prior period results have been restated to reflect 1991 mergers accounted for as pooling-of-interests.
 CRITICAL CARE AMERICA, INC.
 CONSOLIDATED BALANCE SHEETS
 (IN THOUSANDS)
 MARCH 31, DECEMBER 31,
 1992 1991
 ASSETS
 Cash and temporary investments $ 89,349 $ 90,985
 Trade accounts receivable, net 74,336 74,735
 Other current assets 18,285 16,990
 Total current assets 181,970 182,710
 Property, plant & equipment, net 18,903 14,479
 Cost in excess of net assets acquired,
 net 39,721 35,172
 Other assets, net 10,087 6,849
 Total assets $250,681 $239,210
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Total current liabilities $ 33,944 $ 34,017
 Other liabilities 4,479 3,346
 Stockholders' equity 212,258 201,847
 Total liabilities & stockholders'
 equity $250,681 $239,210
 -0- 4/23/92
 /CONTACT: Patrick Smith or Bob L. Wood of Critical Care America,


Inc., 603-886-0900/
 (CRA) CO: Critical Care America, Inc. ST: New Hampshire IN: HEA SU: ERN


TM -- NE017 -- 1938 04/23/92 13:24 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:Apr 23, 1992
Words:672
Previous Article:MOBILE TELECOMMUNICATIONS TECHNOLOGIES ANNOUNCES PUBLIC OFFERING OF CONVERTIBLE SUBORDINATED DEBENTURES DUE 2002
Next Article:WASHINGTON STATE PATROL HOLDS NEWS CONFERENCE ON COMBINED ACCIDENT REDUCTION EFFORT


Related Articles
CRITICAL CARE AMERICA ANNOUNCES YEAR END EARNINGS
CONMED CORP. ANNOUNCES 91 PERCENT INCREASE IN NET INCOME FOR FOURTH QUARTER 1991; 62 PERCENT INCREASE IN NET INCOME FOR YEAR
CRITICAL CARE AMERICA'S SURGICARE AMERICA UNIT COMPLETES ACQUISITION
CRITICAL CARE AMERICA EXPECTS RECORD SALES AND EARNINGS
IMCERA'S MALLINCKRODT MEDICAL UNIT ACQUIRES HEMOCUE, AB, OF ANGELHOLM, SWEDEN, A WORLD LEADER IN POINT-OF-CARE BLOOD CHEMISTRY SYSTEMS
Nursing homes and Wall Street.
CAREMARK REPORTS RECORD QUARTERLY SALES OF $524.5 MILLION, UP 22.6 PERCENT
CAREMARK REPORTS RECORD SALES AND EARNINGS IN SECOND QUARTER
JONES MEDICAL ANNOUNCES SEVENTH CONSECUTIVE ANNUAL INCREASE IN ITS QUARTERLY DIVIDEND; TWENTY PERCENT DIVIDEND INCREASE TO $.03 QUARTERLY
Vital Signs, Inc. Announces Earnings for First Quarter.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters