Jun 29 2010
UCI Medical Affiliates, Inc. (Pink Sheets: UCIA) today announced that it had filed its Quarterly Reports on Form 10-Q for the quarters ended December 31, 2009 and March 31, 2010.
Revenues for the quarter ended December 31, 2009 were $21,868,730, an increase of $3,560,944, or 19.45% over revenues of $18,307,786 for the quarter ended December 31, 2008. Net income was $234,297, or $0.02 per share, for the quarter ended December 31, 2009 compared to net loss of $166,428, or $(0.02) per share, for the quarter ended December 31, 2008.
Revenues for the quarter ended March 31, 2010 were $22,114,808, an increase of $1,569,969, or 7.64% over revenues of $20,544,839 for the quarter ended March 31, 2009. Net income was $731,332, or $0.07 per share, for the quarter ended March 31, 2010 compared to a net income of $1,541,771 or $0.16 per share, for the quarter ended March 31, 2009.
Revenues for the six month period ended March 31, 2010 were $43,983,538, an increase of $5,130,913, or 13.21% over revenues of $38,852,625 for the six month period ended March 31, 2009. Net income was $965,629, or $0.10 per share, for the six month period ended March 31, 2010 compared to a net income of $1,375,343 or $0.14 per share, for the six month period ended March 31, 2009.
President and Chief Executive Officer, Michael Stout, MD, stated, "We are pleased with our revenue growth in the first and second quarters of 2010. Our revenue growth in the first quarter was positively affected by increased patient encounters associated with the outbreak of the H1N1 flu virus. In addition, the new centers we opened in the latter part of fiscal year 2009 added significantly to our revenues in the both the first and second quarters. We continue to believe that we have made solid progress in our business and will maintain our pursuit of opportunities to expand our business through the opening of additional centers.”
Joe Boyle, Executive Vice President and Chief Financial Officer, stated, "As we have previously reported, our SEC filings became delinquent due to the investigation of our previous Chief Financial Officer. We are pleased that our filings on Form 10-Q are now current and we expect to file our third quarter 10-Q on a timely basis. During the remainder of fiscal year 2010 we will continue to work on the improvement of our cost controls and to deploy our cash resources in the expansion of our core business."
SOURCE UCI Medical Affiliates, Inc.