Navigation Links
Dialysis Corporation of America Reports Fourth Quarter and Year Ended December 31, 2007 Results

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 operations for 2007.

Dialysis Corporation of America currently owns 35 free-standing operating kidney hemodialysis centers in Georgia, Maryland, New Jersey, Ohio, Pennsylvania, South Carolina and Virginia providing patients with a full range of quality in-center and at-home dialysis services, as well as providing in- hospital services. The company acquired an Ohio center and a Pennsylvania center during 2007, in addition to opening two new centers, one in Ohio and one in South Carolina.

This release contains forward-looking statements that are subject to risks and uncertainties that could affect the business and prospects of the company and cause actual results and plans to differ materially from those anticipated. Those factors include, but are not limited to, maintaining continued growth and profitability, delays beyond the company's control with respect to future business events, the highly competitive environment in the establishment and operation of dialysis centers, the ability to develop or acquire additional dialysis facilities, whether patient bases of the company's dialysis facilities can mature to provide profitability, the extensive regulation of dialysis operations, government rate determination for Medicare reimbursement, pricing pressure from private payors, and other risks detailed in the company's filings with the SEC, particularly as described in the company's annual report on Form 10-K for the fiscal year ended December 31, 2006. The historical results contained in this press release are not necessarily indicative of future performance of the company.

The company's press releases, corporate profile, corporate governance materials, quarterly and current reports, and other filings with the SEC are available on Dialysis Corporation of America's internet home page:

CONTACT: For additional information, you may contact Stephen Everett, President and CEO of Dialysis Corporation of America, 1302 Concourse Drive, Suite 204, Linthicum, MD 21090; Telephone No. (410) 694-0500.




2007 2006 2005

Operating revenues:


Medical services revenue $73,170,573 $61,138,963 $44,686,579

Product sales 1,077,988 891,242 206,941

Total sales revenues 74,248,561 62,030,205 44,893,520

Other income 286,174 430,033 498,257

74,534,735 62,460,238 45,391,777

Cost and expenses:

Cost of sales revenues:

Cost of medical services 44,248,309 36,968,682 27,859,804

Cost of product sales 598,086 549,590 119,327

Total cost of sales

revenues 44,846,395 37,518,272 27,979,131

Selling, general and

administrative expenses

Corporate 7,917,038 6,460,309 4,674,367

Facility 11,423,072 8,988,078 7,032,596

Total 19,340,110 15,448,387 11,706,963

Stock compensation expense 217,474 275,438 ---

Depreciation and amortization 2,619,049 2,319,070 1,748,738

Provision for doubtful

accounts 1,665,120 1,198,995 571,016

68,688,148 56,760,162 42,005,848

Operating income 5,846,587 5,700,076 3,385,929

Other income (expense):

Interest income officer/director

note --- --- 5,527

Interest expense on note and

advances payable to parent --- --- (157,591)

Other (expense) income, net (39,637) 100,968 217,821

(39,637) 100,968 65,757

Income before income taxes,

minority and other equity

interests and equity in affiliate

earnings 5,806,950 5,801,044 3,451,686

Income tax provision 1,614,892 2,085,874 1,426,552

Income before minority and other

equity interests and equity in

affiliate earnings 4,192,058 3,715,170 2,025,134

Minority and other equity

interests in income of

consolidated subsidiaries (1,105,736) (919,739) (454,214)

Equity in affiliate earnings --- 253,765 328,732

Net income $3,086,322 $3,049,196 $1,899,652

Earning per share:

Basic $.32 $.32 $.22

Diluted $.32 $.32 $.20

Weighted average shares


Basic 9,572,893 9,484,926 8,769,399

Diluted 9,607,672 9,575,733 9,266,905




December 31, December 31,

2007 2006


Current assets:

Cash and cash equivalents $2,447,820 $3,491,569

Accounts receivable, net 20,159,926 15,695,302

Inventories, net 2,006,661 1,985,415

Deferred income tax asset 998,000 1,105,000

Other current assets 3,313,406 3,352,962

Total current assets 28,925,813 25,630,248

Property and equipment 28,766,423 27,444,679

Less accumulated depreciation and

amortization 12,264,029 11,091,432

16,502,394 16,353,247

Deferred income taxes --- 359,295

Goodwill 8,576,893 6,681,160

Other assets 841,092 831,776

Total other assets 9,417,985 7,872,231

$54,846,192 $49,855,726

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable and accrued expenses $10,224,199 $7,742,473

Income taxes payable 33,297 660,092

Current portion of long-term debt 56,000 130,000

Total current liabilities 10,313,496 8,532,565

Deferred income taxes 574,000 ---

Long-term debt, less current portion 7,009,419 8,618,325

Total liabilities 17,896,915 17,150,890

Minority interest in subsidiaries 4,942,797 3,643,347

Commitments and Contingencies

Stockholders' equity:

Common stock 95,736 95,643

Additional paid-in capital 15,587,782 15,729,206

Retained earnings 16,322,962 13,236,640

Total stockholders' equity 32,006,480 29,061,489

$54,846,192 $49,855,726



Year Ended December 31, Year-to-year

2007 2006 Change %

Operating data:


Consolidated 241,189 205,750 17.2%

Managed 11,137 14,343 (22.4)%

Total treatments 252,326 220,093 14.6%

Patient revenue per treatment $303.37 $297.15 2.1%

Same center growth data:

Same center treatment growth 6% 10%

Same center revenue per treatment

change 1% 7%

Same center patient revenue growth 7% 18%

Key clinical metrics:

Treatment adequacy (% of pts with

Kt/V greater than 1.2) 95.25% 95.48%

Anemia management (% of pts with

Hgb greater than 11) 80.37% 81.23%

Venous access (% of pts with AVF) 52.98% 49.08%


Quarter Ended December 31, to-Quarter

2007 2006 Change %

Operating data:


Consolidated 62,817 57,143 9.9%

Managed 2,847 2,674 6.5%

Total treatments 65,664 59,817 9.8%

Patient revenue per treatment $312.59 $313.59 (0.3)%

Same center growth data:

Same center treatment growth (4)% 14%

Same center revenue per treatment

change 10% 8%

Same center patient revenue growth 5% 23%

Key clinical metrics:

Treatment adequacy (% of pts with

Kt/V greater than 1.2) 95.38% 94.86%

Anemia management (% of pts with

Hgb greater than 11) 78.74% 83.65%

Venous access (% of pts with AVF) 52.98% 49.08%

SOURCE Dialysis Corporation of America
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Dialysis Corporation of America Announces Fiscal Year 2007 Earnings Release Date
2. Dialysis Corporation of America Announces its Newest Center Opening in South Carolina
3. Standard test for blood sugar control not accurate in diabetic dialysis patients
4. Dialysis Corporation of America Announces Opening of New Dialysis Center in Ohio
5. Nations Leading Dialysis Provider - DaVita - Partners with eDiets(R) to Launch One-of-a-Kind Diet Helper Online Nutrition and Meal Planning Tool for Late-Stage Kidney Disease Patients and Caregivers
6. 16-Year-Old Ecuadorian Boy in Dire Need of Dialysis Treatments Thanks One of Nations Leading Providers for Saving His Life
7. Study questions impact of hemoglobin variations on mortality in dialysis patients
8. New anemia measure predicts risk of death in dialysis patients
9. Home Dialysis Clinical Research Study is Underway - Focuses on At-Home Extended Duration Treatment
10. DaVita to Open First Independent Dialysis Clinic in Fargo-Moorhead
11. DaVita Emergency Response Efforts Ensure Vital Treatment for More than 700 Kidney Failure Patients in Need of Life-Saving Dialysis Treatments in Areas Affected by Southern California Wildfires
Post Your Comments:
(Date:1/20/2017)... Viejo, California (PRWEB) , ... January 20, 2017 , ... ... easy to use inside of Final Cut Pro X," said Christina Austin - CEO ... on the RED Dragon. Utilizing the Dragon Sensor,TransFlare 4K Mystique lens flare and light ...
(Date:1/20/2017)... ... ... biographical account following a man who went on to support his country and serve the ... Lynn Haven, Florida and at the age of 5, his family moved to Pensacola Florida. ... Navy and got married right out of boot camp. , He and his wife ...
(Date:1/20/2017)... ... January 20, 2017 , ... “Journey to Christmas:” a beautiful and enchanting tale that ... author, Kimberly Cordoves, a mother of three in Oklahoma City, and a devoted woman of ... writing a book has been in the back of my mind for years, but actually ...
(Date:1/19/2017)... ... 20, 2017 , ... Today, the Centers for Medicare & Medicaid Services (CMS) ... Payment Models (APMs) in 2017. Clinicians who participate in APMs are paid for the ... of the Administration’s effort to build a system that delivers better care and one ...
(Date:1/19/2017)... , ... January 19, 2017 , ... With the cold weather here, many people will ... blowers are efficient when clearing large amounts of snow, but they can be dangerous when ... U.S. Consumer Product Safety Commission for the proper use of snow blowers:, ...
Breaking Medicine News(10 mins):
(Date:1/20/2017)... -- Wells Specialty Pharmacy announces the acquisitions and merger of ... Winter Park, Florida and Pharm-EZ Medical, LLC, ... been consolidated into the 3796 Howell Branch Road Facility. ... Chad Tomlinson , former Vice President of Operations, has ... Tomlinson is a Graduate of Florida State University and has ...
(Date:1/19/2017)... , Jan. 19, 2017 ... Summary GlobalData,s new report, "Germany Cataract Surgery Devices ... the Germany Cataract Surgery Devices market. The report provides ... and average prices (USD) within market segements - Phacoemulsification ... also provides company shares and distribution shares data for ...
(Date:1/19/2017)... The Global Therapy Partnering Terms and Agreements ... deals and agreements entered into by the world,s leading ... Top deals by value - Deals listed by company ... The report provides understanding and access to the partnering ... healthcare companies. The report provides an analysis of ...
Breaking Medicine Technology: