American Claims Evaluation, Inc. Reports Second Quarter Results

November 11, 2009 11:39 AM EST

JERICHO, N.Y.--(BUSINESS WIRE)-- American Claims Evaluation, Inc. (the "Company") (NASDAQ: AMCE) announced revenues of $1,317,905 and a net loss of $353,508 ($.07 net loss per share) for the three months ended September 30, 2009. By comparison, the Company reported a net loss of $52,152 ($.01 net loss per share) for the three months ended September 30, 2008 consisting of a loss of $182,144 from continuing operations ($.03 net loss per share) and a gain from discontinued operations of $94,345 ($.02 net earnings per share).

During the fiscal year ended March 31, 2009, the Company acquired all of the issued and outstanding shares of Interactive Therapy Group Consultants, Inc. ("ITG") and also completed the disposition of its wholly-owned subsidiary, RPM Rehabilitation & Associates, Inc. ("RPM"). Accordingly, all results related to RPM have been reflected as discontinued operations.

                     Three Months Ended              Six Months Ended

                     09/30/09        09/30/08        09/30/09        09/30/08

                     (Unaudited)                     (Unaudited)

Revenues           $ 1,317,905     $ 247,690       $ 3,224,996     $ 247,690

Operating loss
from continuing      (354,977  )     (182,144  )     (399,114  )     (389,255  )
operations

Loss before
discontinued         (353,508  )     (146,497  )     (393,278  )     (311,809  )
operations

Net loss           $ (353,508  )   $ (52,152   )   $ (393,278  )   $ (223,292  )

Net earnings
(loss) per
share:

From continuing
operations -
basic

and diluted        $ (0.07     )   $ (0.03     )   $ (0.08     )   $ (0.07     )

From
discontinued
operations -
basic

and diluted        $ 0.00          $ 0.02          $ 0.00          $ 0.02

Weighted average
shares -

basic and            4,754,900       4,761,800       4,754,900       4,761,800
diluted

ITG's business is moderately seasonal based on the school year. Accordingly, revenues recorded during the three months ended September 30, 2009, which includes two full months during which schools are not in session, reflect the Company's lowest revenue producing quarter.

American Claims Evaluation, Inc., through its wholly owned subsidiary, Interactive Therapy Group Consultants, Inc., offers a comprehensive range of services to children with developmental delays and disabilities.

    Source: American Claims Evaluation, Inc.

Related Categories

Press Releases

Stocks Mentioned

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?