Third-quarter fiscal 2009 results announced by The Quantum Group

The Quantum Group, Inc. (NYSE Amex:QGP) announced financial results for the third quarter of fiscal year 2009 ended July 31, 2009.

For the period, the Company reported an increase in revenues of approximately 134% to $10,454,969, compared to $4,459,362 for the same quarter in fiscal year 2008. Further, the Company has exceeded the preliminary revenue guidance released on August 12, 2009. On a sequential basis, revenues increased 26% from $8,308,967 in the second quarter of fiscal 2009 to $10,454,969 in the third quarter of fiscal 2009.

“We are very pleased by the consistent growth of our Company,” stated Noel J. Guillama, President and CEO of The Quantum Group. “There has never been a more exciting time to be in healthcare as an innovation-driven company. We are confident that our business model, one that focuses on a comprehensive industry wide solution and creating efficiencies, is more relevant and marketable than ever. Propelled by our 21st Century Electronic Medical Record platform PWeR™ (Personal Wellness electronic Record™) that operates through a cloud computing model and empowers the one patient, one record™ concept, we continue to find providers to be very receptive to the services and solutions offered by The Quantum Group of Companies (including subsidiaries Renaissance Health Systems and Quantum Innovations).”

Guillama further commented, “Efficiency by innovation is the key to our Company. We have reached a maturation point through the growth of Renaissance Health Systems that places our focus on putting operational systems and processes in place to control costs, eliminate waste and potentially harmful care. While our revenues increased 26% this quarter over the second quarter, we reduced our operating costs by 27% and we expect to continue to drive similar efficiencies going forward.”

Susan Darby Gallagher, Executive Vice President & Chief Administrative Officer noted, “The efficiencies of our business have been achieved through the combination of the unique skill base of our employees, the critical mass to provide the scale and growth, and the automation of processes through best practices and technology. These results have been evident through our increased growth with less cost.”

The Company reported that over the last three years it generated $53,443 in revenues per employee in the third quarter of 2007, $96,943 per employee in the same quarter of 2008, and $177,203 per employee in the same quarter of 2009. This represents a revenue increase per employee of 232% over 3 years.

The Company reported a loss from operations of $2,208,680 in the third quarter of fiscal year 2009 as compared to a loss from operations of $2,125,556 for the same quarter in fiscal year of 2008. This loss resulted in a loss per share of $.34 versus $.26 per share for the same period in 2008. The Company further reported a total net loss of $3,861,395 for the quarter compared to a total net loss of $2,275,236 for the third quarter of fiscal year 2008 and reported costs attributed to financing of $1,672,523 for this quarter compared to $149,680 from the same quarter of fiscal year 2008.

The Company’s Quarterly Report on Form 10Q for the quarter ended July 31, 2009, can be obtained through the SEC website or via the following link: http://www.sec.gov/Archives/edgar/data/1118847/000111650209001446/0001116502-09-001446-index.htm

http://www.quantummd.com 

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