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instaCare Corp. Continues Turnaround, Reports 58% Revenues Increase for First Three Quarters
Date:11/18/2009

LOS ANGELES, Nov. 18 /PRNewswire-FirstCall/ -- instaCare Corp., (OTC Bulletin Board: ISCR), a leading distributor of life-saving prescription drugs and at-home testing diagnostics for the chronically ill, and a leading developer of patentable technologies for e-pharmacy, e-health and EMR applications, reported financial results for the third quarter period-ended September 30, 2009. Recent highlights include:

  • Revenue grew by 58% through the first three quarters in 2009 vs. the same period in 2008 as sales and orders for at-home diagnostics and medical surgical products surged
  • ISCR reports enhanced 2009 net income of $1,636,610 vs. 2008 loss of $16,775
  • Company offers cell phone EMR technologies to capitalize on Obama Administration health initiatives
  • Company announces intellectual property and patent strategies to secure its e-health and EMR technologies for Apple iPhone, Palm Pre and Verizon Windows phones

For the third quarter ended September 30, 2009 the company reported revenues of $4,491,831 vs. $3,439,271 for the same period in 2008. Through the first three quarters of 2009, instaCare reported revenues of $14,669,886 vs. $9,257,347 for the same period in 2008, a gain of 58%. The increase in revenues was due primarily to surging sales from the company's sale of at-home medical diagnostic and medical disposable products for patients with chronic diseases. The Company reported an operating profit of $161,967 during the third quarter of 2009 compared with an operating profit of $51,195 recorded during the third quarter 2008, a gain of 316%. Operating profit for the first nine months of 2009 was $1,636,610 vs. an operating loss of $16,775 for the same period in 2008. instaCare had cash, accounts, inventory and equivalents of $3,460,141 as of September 30, 2009 vs. $2,856,791 for the same period in 2008.

Keith Berman, chief financial officer of instaCare, commented, "T
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SOURCE instaCare Corp.
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