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American HealthChoice Reports Third Quarter Results FLOWER MOUND, Texas, Aug 24, 2004 /PRNewswire-FirstCall via COMTEX/ -- American HealthChoice, Inc. (OTC Bulletin Board: AMHI) (the "Company") announced today that its third quarter financials have been filed and are now available for review on the EDGAR system easily accessible on the SEC's website ( http://www.sec.gov ). A condensed version of the financial statement is attached herein to this news release.
Operating income for the three-month period ended June 30, 2004 was $4,000, a notable improvement compared to the operating loss of $68,000 for the same period in 2003. Net loss for the three-month period ended June 30, 2004 was $914,000, which is attributed to a "bad debt" loss of $900,000. This non-cash loss is the result of the write-off of accounts receivable related to the Company's acquisition of three clinics in August 2000, and it does not impact the current year or future years' operating income of AMHI's company- owned clinics.
Chairman and CEO, Dr. J. W. Stucki stated, "Overall we are quite pleased with our financial results for the second and third quarters of fiscal 2004. Based on patient billings to date for the current quarter, which ends September 30, 2004, we anticipate another increase in patient billings in the range of 15-20% compared to the same quarter in 2003. In addition, we are intent on decreasing our marketing expenses this quarter -- the primary variable expense that is associated with the significant increase we've experienced in patient billings."
American HealthChoice is a medical services company comprised of a parent company and twenty-five owned and affiliated medical clinics in Texas and Louisiana. For more information, please visit our newly revised corporate website located at: http://www.americanhealthchoice.com .
Safe Harbor Statement: The statements in this release that relate to future plans, expectations, events, performance, and the like are forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Actual results or events could differ materially from those described in the forward-looking statements due to a variety of factors, including those set forth in the company's report on Form 10-KSB for fiscal year 2003 filed with the Securities and Exchange Commission.
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I got back in here this morning. Played well when I yelled earlier this month. I think she will play again.
------------------ You Must Adapt To Your Opportunities And Weaknesses. You Can Use A Variety Of Approaches And Still Have A Consistant Result. - Sun Tzu, "The Art Of War"
Do Da Due.....But Be Damn Quick About It. - Dardadog, "Da Art Of Daytrading"
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Dallas Business Journal LATEST NEWS 3:40 PM CDT Wednesday American HealthChoice's operating income improves
Flower Mound's American HealthChoice Inc. has reported a notable improvement in its operating income, posting $4,000 for the second quarter of 2004, compared to an operating loss of $68,000 for the same quarter of 2003.
Net loss for the three-month period was $914,000, which the company says is attributed to a "bad debt" loss of $900,000 that resulted from the write-off of accounts receivable related to AMHI's buy of three clinics in August 2000. The write-off does not impact the current or future years' operating income of AMHI's company-owned clinics, the company said.
Based on patient billings for the current quarter, which ends Sept. 30, AMHI anticipates another increase in patient billings in the range of 15 percent to 20 percent compared to the same quarter of 2003, said J.W. Stucki, AMHI's chairman and chief executive.
"In addition, we are intent on decreasing our marketing expenses this quarter -- the primary variable expense that is associated with the significant increase we've experienced in patient billings," Stucki said.
American HealthChoice is a medical services company comprised of a parent company and twenty-five company-owned and affiliated medical clinics in Texas and Louisiana.
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Another important balance sheet improvement in 2004 was the issuance of over 20 million shares that were obligated to a convertible debenture financing initially done in FY 2000. This retired the convertible debenture, and resulted in a lien being released that was held against AMHI's accounts receivable. Significant because the Company now owns 100% of its over $6,000,000 receivables and is no longer restricted to equity financing to meet working capital requirements and acquisition or growth initiatives.
Posts: 219 | From: florida | Registered: Aug 2004
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This has been a player since the first of the month.....
------------------ You Must Adapt To Your Opportunities And Weaknesses. You Can Use A Variety Of Approaches And Still Have A Consistant Result. - Sun Tzu, "The Art Of War"
Do Da Due.....But Be Damn Quick About It. - Dardadog, "Da Art Of Daytrading"
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Took $460 profit here this morning, hope it dips back to play again.......
------------------ You Must Adapt To Your Opportunities And Weaknesses. You Can Use A Variety Of Approaches And Still Have A Consistant Result. - Sun Tzu, "The Art Of War"
Do Da Due.....But Be Damn Quick About It. - Dardadog, "Da Art Of Daytrading"
------------------ You Must Adapt To Your Opportunities And Weaknesses. You Can Use A Variety Of Approaches And Still Have A Consistant Result. - Sun Tzu, "The Art Of War"
Do Da Due.....But Be Damn Quick About It. - Dardadog, "Da Art Of Daytrading"
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