Dialysis Corporation of America Reports Fourth Quarter and Year Ended December 31, 20...( LINTHICUM Md. March 13 /- Dialysi...),Health

LINTHICUM, Md., March 13 /PRNewswire-FirstCall/ -- Dialysis Corporation of America (Nasdaq: DCAI) announced its financial results for the fourth quarter and year ended December 31, 2007. Year end patient census from owned and managed centers approximated 1750, resulting in operating revenues for the fourth quarter of 2007 of $19,986,000 compared to $18,199,000 for the same period last year, a 10% increase. Net income for the quarter was $1,023,000 or $.11 per share ($.11 diluted per share) compared to $1,121,000 or $.12 per share ($.12 diluted per share) for the same period last year. Operating revenues for 2007 were $74,535,000 compared to $62,460,000 for the same period last year, a 19% increase. Net income for 2007 was $3,086,000 or $.32 per share ($.32 diluted per share) compared to $3,049,000 or $.32 per share ($.32 diluted per share) for 2006.

Stephen Everett, President and Chief Executive Officer, commented, "2007 proved to be a year of successful infrastructure development in anticipation of a more aggressive growth strategy we will be implementing over the next few years. We are very proud to have accomplished our objectives, without compromising either the quality of care we are providing our patients, nor the financial performance that we set to achieve at the beginning of 2007. It is also worth noting that we added two new centers through acquisition during 2007, as well as entered into three denovo projects, two of which opened earlier this year."

Financial results for 2007 included (i) pre-tax costs associated with the opening of new centers of $209,000 for the fourth quarter of 2007 and $608,000 for the full year; and (ii) non-cash stock compensation expense of $217,000 was included in our results of operation
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