Arcadia Resources Announces First Quart...( ...),Health

INDIANAPOLIS, Aug. 13 /PRNewswire-FirstCall/ -- Arcadia Resources, Inc. (NYSE Amex: KAD), a leading provider of home care, medical staffing, and pharmacy services under the Arcadia HealthCare(SM) brand, today announced results for its fiscal first quarter ended June 30, 2009.

For the first quarter of fiscal 2010, Arcadia reported net revenues of $26.4 million compared with $26.8 million for the same period last year. Arcadia reported a net loss from continuing operations of $3.6 million, or $0.02 per share, in the current quarter compared to a net loss from continuing operations of $4.0 million, or $0.03 per share, for the fiscal 2009 first quarter. The consolidated net loss, including discontinued operations, was $4.6 million in the current quarter, or $0.03 per share, compared to a net loss of $3.3 million, or $0.03 per share, for the same period a year ago.

In its Pharmacy segment, Arcadia reported a $2.1 million increase in sales for its DailyMed(TM) medication management system in the quarter compared to the same period a year ago, and a $1.0 million, or 48.2% increase, over the fourth quarter of fiscal 2009. In its Services segment, the Company reported an increase in home care sales of 4.7% over the same period a year ago and a 1.6% increase over the prior quarter.

"This quarter marked our first under our new business structure focused on two core businesses," said Marvin R. Richardson, President and Chief Executive Officer of Arcadia. "During the past six months, our management team efforts have centered around the sale of non-core assets and restructuring our long-term debt, and we have emerged as a much more streamlined and focused company with an improved balance sheet and stronger growth prospects. Now w
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