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Arcadia Resources Announces Fourth Quarter and Fiscal 2009 Year-End Results
Date:6/25/2009

rth quarter a year ago. Arcadia's significant growth in DailyMed sales and increased sales in its home care business were offset by reductions in sales in the medical staffing business, which reflect soft market conditions in the temporary medical staffing market. The Company's gross margin from continuing operations remained steady at 29.2%, compared with 29.1% for the same period in 2008 and 29.5% in the 2009 third quarter.

Highlights by segment include:

  • Pharmacy: Pharmacy segment revenues, which now include only the Company's DailyMed(TM) medication management system, increased 80% to $2.2 million for the fourth quarter of 2009 as compared to $1.2 million for the same quarter of 2008. The Company continues to add new patients from the Indiana Care Select program and recently announced a new program with WellPoint that is soon to be rolled out in five states.

  • Home Care/Medical Staffing: The Company's Services segment, which includes the Home Care and Medical Staffing business, reported net revenues of $23.2 million for the 2009 fourth quarter compared to net revenues of $24.0 million for the same period a year ago. Home Care revenues increased by $1.6 million or 10% compared to the same period last year, offset by a $1.9 million decline in medical staffing revenues. Demand for per diem and travel nurse staffing remains soft, driven by low patient admission levels and overall economic conditions.

Year-End Results - Continuing Operations

Arcadia reported a 1.3% increase in net revenues to $106.1 million in the fiscal 2009, reflecting strong Home Care and DailyMed sales, offset by double-digit declines in Medical Staffing sales. The Company's gross margin improved by 0.7% to 29.9% for the full year 2009 compared. The Company's Home Care and Medical Staffin
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SOURCE Arcadia Resources, Inc.
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