COLUMBIA, S.C., Dec. 26 /PRNewswire-FirstCall/ -- UCI Medical Affiliates, Inc. (OTC Bulletin Board: UCIA) reported that revenue for the year ended September 30, 2007 increased to $71,857,000 from $63,672,000 for the year ended September 30, 2006, an increase of 13%.
Revenue for the quarter ended September 30, 2007 was $17,885,000 or 9% greater than the $16,432,000 earned for the quarter ended September 30, 2006. The increase in revenues is attributed to the opening of six new centers, an increase in the patient visits and improved revenue per patient.
The Company reported net income of $1,445,000 or $.15 per share for the fiscal year 2007 as compared to $2,710,000 or $.28 per share for the fiscal year 2006.
"We provided over 600,000 patients with superb care, grew our business by 13%, and maintained a solid operating margin despite the negative effect of opening six new offices," said President and Chief Executive Officer, Michael Stout, MD. "We are proud of this accomplishment and the continued strengthening of our balance sheet."
The Company's September 30, 2007 balance sheet reflects total assets of $30,722,000 as compared to $28,126,000 at September 30, 2006 while stockholders' equity at September 30, 2007 was $17,871,000 as compared to $16,246,000 at September 30, 2006.
"Despite the negative impact on our margin caused by the opening of six new centers, we saw significant improvements in our revenues and patient visits during fiscal year 2007," said Jerry F. Wells, Jr., CPA, Executive Vice President and Chief Financial Officer. "As the new centers continue to grow, we remain focused on providing outstanding care to each of our patients."
UCI Medical Affiliates, Inc. provides non-medical management and
administrative services for freestanding medical centers, which operate as
Doctors Care, Progressive Physical Therapy Services, Luberoff Pediatrics
and Carolina Orthopedic and Sports Medicine providing family care,
|SOURCE UCI Medical Affiliates, Inc.|
Copyright©2007 PR Newswire.
All rights reserved