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Arcadia Completes New Financing; Previews Fourth Quarter Results
Date:3/27/2009

his exchange. Additional terms of the debt restructuring will be detailed in the Company's report on Form 8-K to be filed with the Securities and Exchange Commission.

"The debt restructuring was a critical milestone that gives us added flexibility and puts us in a stronger position in both the short and long term," said Matthew Middendorf, Chief Financial Officer. "We are also working with Comerica Bank to renew our existing senior credit facility, which matures in October 2009."

DailyMed Revenue Growth

The Company also said that it continues to see growth in its Pharmacy segment revenues, driven by its DailyMed medication management system. Arcadia expects DailyMed revenue in fourth quarter ending March 31, 2009 will increase by approximately 40% sequentially from the third quarter.

"We are pleased with the continued adoption of DailyMed(TM) by consumers and payors alike, and look forward to providing a more detailed update and fiscal 2010 revenue estimates when we report our final full-year results in early June," Richardson commented. "We have active discussions underway with existing and potential new payors interested in expanding or adopting DailyMed as part of their ongoing efforts to improve medication compliance and reduce health care costs. This activity reinforces our view that DailyMed can be a significant growth driver for our Company."

Q4 Operating EBITDA Loss

The Company also disclosed that it expects its fourth quarter EBITDA loss from continuing operations to exceed the EBITDA loss of $408,000 reported for the third quarter ended December 31, 2008.

"We continue to see very soft sales in our industrial staffing business, and our medical staffing revenues remain at depressed levels due to weak market conditions," Richardson commented. "As we continue our focus on reducing the overall cost str
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SOURCE Arcadia Resources, Inc.
Copyright©2009 PR Newswire.
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