Arcadia Resources Announces Fourth Quarter and Fiscal 2009 Year-E...( - Q4 DailyMed(TM) Sales Increase 43% ...),Health

- Q4 DailyMed(TM) Sales Increase 43% Over Third Quarter and 80% Over Prior Year Quarter

- Q4 Home Care Sales Up 10% From Same Quarter a Year Ago and 10% for Full Year

- $29.3 Million in One-Time Charges relating to Asset Impairment Charges, Debt Restructuring Costs, Loss on the Sale of Discontinued Operations

INDIANAPOLIS, June 25 /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 fourth quarter and year ended March 31, 2009.

The fourth quarter was marked by significant sales growth in the Company's core pharmacy and home care operations, offset by a reduction in sales in its medical staffing business and the previously announced disposition of non-core businesses. Arcadia also recorded one-time charges of $29.3 million associated with its efforts to streamline the business and improve its balance sheet over the long term.

For the fourth quarter of fiscal 2009, Arcadia reported net revenues from continuing operations of $25.9 million, essentially the level same as the fourth quarter of fiscal 2008. Arcadia reported a net loss from continuing operations of $32.7 million, compared with a net loss of $4.5 million for the fiscal 2008 fourth quarter. The loss in the 2009 fourth quarter reflected the impact of several one-time charges taken during the quarter, including asset impairment charges of $23.5 million, a $4.2 million charge for costs associated with the Company's recently completed debt restructuring, and a $544,000 loss on the sale of discontinued operations. The asset impairment charges primarily related to the Pharmacy business, reflecting the Company's decision to focus its Pharmacy business model on th
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