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MEDICAL RESOURCE COMPANIES OF AMERICA REPORTS CONTINUED GROWTH IN SECOND QUARTER

 DALLAS, Aug. 19 /PRNewswire/ -- Medical Resource Companies of America (AMEX: MRA) today reported continuing profitability and growth in assets for the second quarter of fiscal 1993. This is the sixth consecutive quarter of profitable operations since the company implemented its healthcare business strategy in late 1991.
 Revenues for the quarter ended June 30, 1993 were $6,330,000 compared to $1,246,000 over the same period the previous year. Revenues for the first six months of this year were $9,502,000 and $8,477,000 for the same period last year.
 Net earnings for this year's second quarter were $366,000 compared to $330,000 in 1992. Net earnings for the first six months of 1993 were $1,869,000 compared to $5,538,000 over the comparable period last year. The company said that in the first six months of 1992, significant revenue and earnings were reported relating to the sale of tax exempt bonds for approximately $6.2 million in cash.
 Per share earnings for this quarter were $.02 compared to $.05 for the second quarter of 1992. The weighted average number of common and equivalent shares outstanding at the end of the 1993 second quarter increased to 17,354,000 compared to 7,115,000 for the comparable period last year.
 Assets increased 7 percent to $58,754,000 as compared to $55,129,000 on March 31, 1993. The increase in assets was primarily due to the acquisition of Remuda Ranch, an eating disorder treatment center located in Wickenburg, Ariz.
 Medical Resource recently announced that the company's board of directors approved an agreement in principle to acquire Dixie National Corporation and its subsidiary, Dixie National Life Insurance Company. The company expects the closing to occur before year end. This acquisition will increase Medical Resource's assets by approximately $56 million.
 Medical Resource Companies of America, headquartered in Addison, Texas, a north Dallas suburb, provides products and services for the aging and handicapped markets and is entering other growth niches, primarily in the healthcare industry. The company owns retirement, assisted living, nursing, and eating disorder treatment centers. The company also manufactures and markets electric-powered scooters to help meet the needs of the mobility impaired and also produces industrial strength childrens' strollers for theme parks and other tourist attractions.
 MEDICAL RESOURCE COMPANIES OF AMERICA
 Summary of Statement of Operations
 Three Months Six Months
 Periods ended June 30 1993 1992 1993 1992
 Operating revenue $6,330,000 $1,246,000 $9,502,000 $8,477,000
 Earnings before
 taxes $ 501,000 $ 395,000 $2,506,000 $6,837,000
 Net earnings $ 366,000 $ 330,000 $1,869,000 $5,538,000
 Earnings per share $ .02 $ .05 $ .12 $ .78
 Weighted average
 number of shares
 outstanding 17,354,000 7,115,000 15,250,000 7,115,000
 -0- 8/19/93
 /CONTACT: Robert L. Griffis of Medical Resource Companies of America, 214-407-8400/
 (MRA)


CO: Medical Resource Companies of America ST: Texas IN: HEA SU: ERN

WB -- NY032 -- 4288 08/19/93 11:39 EDT
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Publication:PR Newswire
Date:Aug 19, 1993
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