ISCR Also Reports 2nd Quarter and Six Months Profit Resulting From Enhanced
Operations and New Agreements
LOS ANGELES, Aug. 20 /PRNewswire-FirstCall/ -- InstaCare Corp., (OTC Bulltein Board: ISCR), a leading distributor of at-home testing diagnostics for the chronically ill, life-saving prescription drugs and a developer of patent-pending technologies for e-health and EMR applications, reported financial results for the second quarter period-ended June 30, 2008. Recent highlights include:
-- Revenues grew by 291% in 2Q 2008 vs. 2Q 2007 as sales and orders for at-home diagnostics and medical surgical product continued to surge
-- ISCR reports 2Q 2008 operating profit of $140,513 and enhanced operating margins vs. 2Q 2007
-- Company implements New Letters of Commitment executed with two medical surgical products companies and a new diabetic products manufacturer
For the second quarter of 2008, InstaCare reported revenues of $3,020,694, a gain of 291% from $1,036,849 recorded during the second quarter of 2007. The increase in revenues was due primarily to sales from the distribution of medical diagnostic and medical disposable products for patients with chronic diseases. Total operating expenses for the quarter ended June 30, 2008 were $204,118, a decrease of $98,554 over the quarter ended June 30, 2007. The Company reported an operating profit of $140,513 during the second quarter of 2008 compared with an operating loss of $174,475 recorded during the second quarter 2007. The Company incurred a net profit of $17,652, or nil per basic share for the quarter ended June 30, 2008, compared with a net loss of $150,570 or ($0.01) per basic and diluted share reported for the quarter ended June 30, 2008. InstaCare had current assets of $1,353,874 as of June 30, 2008.
Keith Berman, Chief Financial Officer of InstaCare, commented, "We are
pleased to report another exceptional quarter for InstaCare as our
|SOURCE InstaCare Corp.|
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