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Arcadia Resources Announces Improved Fiscal 2011 Second Quarter Results

n shares outstanding



160,709Basic and diluted net loss per share:Loss from continuing operations



(0.05)Income (loss) from discontinued operations



-Net loss per share





(IN THOUSANDS)Six-Month Period EndedSeptember 30,(Unaudited)20102009Operating activitiesNet loss for the period


(8,718)Adjustments to reconcile net loss to net cash used in operating activities:Provision for doubtful accounts


1,155Depreciation of property and equipment


912Amortization of intangible assets


405Gain on business disposals


(379)Non-cash interest expense


1,224Amortization of deferred financing costs and debt discounts


121Stock-based compensation expense


551Change in fair value of warrant liability


-Changes in operating assets and liabilities, net of acquisitions:Accounts receivable




904Other assets


821Accounts payable


(1,449)Accrued expenses


(957)Due to affiliated agencies


(277)Net cash used in operating activities


(3,247)Investing activitiesBusiness acquisitions, net of cash acquired


(196)Proceeds from business disposal


9,320Increase in restricted cash


(500)Purchases of property and equipment


(96)Net cash provided by investing activities


8,528Financing activitiesLines of credit, net activity


(4,610)Proceeds from note payable, net of fees



SOURCE Arcadia Resources, Inc.
Copyright©2010 PR Newswire.
All rights reserved

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