UCI Medical Affiliates, Inc.(fka UCIA)

[MoneyMan]

Doctors Care Opens 46th Location in Easley

Jan 24, 2011 15:43:00 (ET)


COLUMBIA, S.C., Jan. 24, 2011 /PRNewswire via COMTEX/ -- Doctors Care, an affiliate of UCI Medical Affiliates, Inc., today announced the opening of its newest center at 832 Powdersville Road in Easley, South Carolina.

Dr. Michael Stout, Doctors Care Chief Executive Officer, stated, "We are very excited about our new center in the Easley area. At Doctors Care, we take pride in offering patients convenient medical care where and when they need it, including evening and weekend hours. The new Easley center gives us yet another opportunity to do exactly that."

"We offer a wide range of services including primary care, urgent care, annual and sports physicals as well as treatment for injuries and unexpected illnesses. This includes lacerations, sprains, fractures, rashes, fevers, and respiratory infections to name just a few. We are particularly excited about bringing Dr. Lynda McKinnon back to the Easley area," said Dr. Steve Parks, Upstate Regional Medical Director.

About Doctors Care Easley:

Urgent Care

Family Care

On-site pharmacy, lab and x-ray services

Open seven days a week, including most holidays

Extended hours, Mon-Fri 8 am - 8 pm

Open weekends, Saturday 9 am - 5 pm and Sunday 1 pm - 6 pm

Treatment for walk-ins

Same-day appointments

The Easley center is UCI Medical Affiliates' 70th free-standing clinic, with all but one in South Carolina. It's the 8th Doctors Care center in the Midlands. Call [phone] for more information or to schedule an appointment.

About UCI Medical Affiliates, Inc. and Doctors Care

Doctors Care is an affiliate of UCI Medical Affiliates, Inc. UCI Medical Affiliates, Inc. ("UCI") is headquartered in Columbia, SC and operating through its wholly-owned subsidiary, UCI Medical Affiliates of South Carolina, Inc. ("UCI-SC"), provides nonmedical management and administrative services for a network of 70 freestanding medical centers, 68 of which are located throughout South Carolina (45 operating as Doctors Care in South Carolina, one as Doctors Care in Knoxville, Tennessee, 21 as Progressive Physical Therapy Services in South Carolina, one as Luberoff Pediatrics in South Carolina, one as Carolina Orthopedic & Sports Medicine in South Carolina and one as Doctors Wellness Center in South Carolina).

Doctors Care opened its doors in 1981 as the first minor emergency medical center in Columbia, South Carolina. Today, Doctors Care is a premiere healthcare organization proudly focused on delivering exceptional urgent care, family care, preventative and occupational healthcare and specialty services. Most locations offer flexible hours - including evenings and weekends - and do not require an appointment.

For more information, go to DoctorsCare.com.


Contact:
Jenny Skipper
Director of Marketing
UCI Medical Affiliates
1818 Henderson Street
Columbia, SC 29201
[phone] x184
ucimedinc.com
[e-mail]

[MikeDDKing]

UCIA received an insurance settlement of $2.7M or $0.28/share!

http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=7355325-887-5877&type=sect&TabIndex=2&companyid=5382&ppu=%252fdefault.aspx%253fcik%253d737561

[MikeDDKing]

UCI Medical Affiliates, Inc. Reports First and Second Quarter Results for Fiscal Year 2010
On Monday June 28, 2010, 5:30 pm EDT

COLUMBIA, S.C., June 28 /PRNewswire-FirstCall/ -- UCI Medical Affiliates, Inc. (Pink Sheets:UCIA.pk - News) today announced that it had filed its Quarterly Reports on Form 10-Q for the quarters ended December 31, 2009 and March 31, 2010.

Revenues for the quarter ended December 31, 2009 were $21,868,730, an increase of $3,560,944, or 19.45% over revenues of $18,307,786 for the quarter ended December 31, 2008. Net income was $234,297, or $0.02 per share, for the quarter ended December 31, 2009 compared to net loss of $166,428, or $(0.02) per share, for the quarter ended December 31, 2008.

Revenues for the quarter ended March 31, 2010 were $22,114,808, an increase of $1,569,969, or 7.64% over revenues of $20,544,839 for the quarter ended March 31, 2009. Net income was $731,332, or $0.07 per share, for the quarter ended March 31, 2010 compared to a net income of $1,541,771 or $0.16 per share, for the quarter ended March 31, 2009.

Revenues for the six month period ended March 31, 2010 were $43,983,538, an increase of $5,130,913, or 13.21% over revenues of $38,852,625 for the six month period ended March 31, 2009. Net income was $965,629, or $0.10 per share, for the six month period ended March 31, 2010 compared to a net income of $1,375,343 or $0.14 per share, for the six month period ended March 31, 2009.

President and Chief Executive Officer, Michael Stout, MD, stated, "We are pleased with our revenue growth in the first and second quarters of 2010. Our revenue growth in the first quarter was positively affected by increased patient encounters associated with the outbreak of the H1N1 flu virus. In addition, the new centers we opened in the latter part of fiscal year 2009 added significantly to our revenues in the both the first and second quarters. We continue to believe that we have made solid progress in our business and will maintain our pursuit of opportunities to expand our business through the opening of additional centers.”

Joe Boyle, Executive Vice President and Chief Financial Officer, stated, "As we have previously reported, our SEC filings became delinquent due to the investigation of our previous Chief Financial Officer. We are pleased that our filings on Form 10-Q are now current and we expect to file our third quarter 10-Q on a timely basis. During the remainder of fiscal year 2010 we will continue to work on the improvement of our cost controls and to deploy our cash resources in the expansion of our core business."

UCI Medical Affiliates, Inc. ("UCI") is a Delaware corporation incorporated on August 25, 1982. Operating through its wholly-owned subsidiary, UCI Medical Affiliates of South Carolina, Inc. ("UCI-SC"), UCI provides nonmedical management and administrative services for a network of 67 freestanding medical centers, 66 of which are located throughout South Carolina and one is located in Knoxville, Tennessee (43 operating as Doctors Care in South Carolina, one as Doctors Care in Knoxville, Tennessee, 20 as Progressive Physical Therapy Services in South Carolina, one as Luberoff Pediatrics in South Carolina, one as Carolina Orthopedic & Sports Medicine in South Carolina and one as Doctors Wellness Center in South Carolina).

Certain of the statements contained in this press release and our Reports on Form 10-Q that are not historical facts are forward-looking statements subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. We caution readers of this press release and our Reports on Form 10-Q that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Although our management believes that their expectations of future performance are based on reasonable assumptions within the bounds of their knowledge of their business and operations, we can give no assurance that actual results will not differ materially from their expectations. Factors that could cause actual results to differ from expectations include, among other things, (1) the difficulty in controlling our costs of providing healthcare and administering our network of centers; (2) the possible negative effects from changes in reimbursement and capitation payment levels and payment practices by insurance companies, healthcare plans, government payers and other payment sources; (3) the difficulty of attracting primary care physicians; (4) the increasing competition for patients among healthcare providers; (5) possible government regulations negatively impacting our existing organizational structure; (6) the possible negative effects of healthcare reform; (7) the challenges and uncertainties in the implementation of our expansion and development strategy; (8) the dependence on key personnel; (9) adverse conditions in the stock market, the public debt market, and other capital markets (including changes in interest rate conditions); (10) the strength of the United States economy in general and the strength of the local economies in which we conduct operations may be different than expected resulting in, among other things, a reduced demand for practice management services; (11) the demand for our products and services; (12) technological changes; (13) the ability to increase market share; (14) the adequacy of expense projections and estimates of impairment loss; (15) the impact of change in accounting policies by the Securities and Exchange Commission; (16) unanticipated regulatory or judicial proceedings; (17) the impact on our business, as well as on the risks set forth above, of various domestic or international military or terrorist activities or conflicts; (18) other factors described in our Form 10-K, including, but not limited to, those matters described under the caption "PART I – ITEM 1A. – RISK FACTORS," and in our other reports filed with the Securities and Exchange Commission; and (19) our success at managing the risks involved in the foregoing.

Contact:

Joseph A. Boyle

Executive Vice President and Chief Financial Officer

UCI Medical Affiliates, Inc.

1818 Henderson Street

Columbia, South Carolina 29201

[phone]

www.ucimedinc.com

[MikeDDKing]

UCIA is included in the SwingTrade portfolio which is located here:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=49605491

[MikeDDKing]

UCIA DD....

I've been buying UCIA recently. They reported earnings of $0.12/share for the most recent quarter. They seem like a great candidate for a 50-100% move in the next few months. They provide medical management services to medical centers. Here is why I like them:

1. They reported earnings of $0.12/share for their fiscal Q4 ending September 30, 2009 and last traded at $2.55. They are very cheap on a PE basis. They are trading at a trailing PE of 8 and I think a 5-6 forward PE.

2. The next two quarters ending December 31, 2009 and March 31, 2009 are seasonally stronger. I'm expecting better numbers in both quarters and I think it is possible that they report $0.20 in the March quarter.

3. They have a very solid balance sheet with BV of $1.76/share and cash of $0.28/share.

4. They have a very low float of roughly 1.6M shares.

5. They are currently trading on the pinksheets as they fell behind on their filings because the former CFO was stealing from them. They have cleaned up the mess from the former CFO and are just about caught up on their SEC filings. I would expect an uplisting in the future.

6. I expect that we see fiscal Q1 and Q2 reports within the next month. Therefore, there are very near term catalysts for this stock.

[MikeDDKing]

UCI Medical Affiliates, Inc. Reports Fiscal Year End Results for September 30, 2009
On Thursday April 8, 2010, 5:30 pm EDT

COLUMBIA, S.C., April 8 /PRNewswire-FirstCall/ -- UCI Medical Affiliates, Inc. (Pink Sheets:UCIA.pk - News) today announced the filing of its 2009 Annual Report on Form 10-K and its financial results for the fiscal year and quarter ended September 30, 2009.

Revenues for the year ended September 30, 2009 were $80,350,452, an increase of $3,305,196, or 4.3% over revenues of $77,045,256 for the year ended September 30, 2008. Net income was $3,094,889, or $0.31 per share, for the year ended September 30, 2009 compared to net income of $1,077,419, or $0.11 per share, for the year ended September 30, 2008. Net income for the year ended September 30, 2009 included a pre-tax gain of $776,672 related to the recovery of misappropriation losses associated with the previously reported fraudulent activities of the Company's former Chief Financial Officer.

Revenues for the quarter ended September 30, 2009 were $22,233,360, an increase of $3,286,269, or 17.3% over revenues of $18,947,091 for the quarter ended September 30, 2008. Net income was $1,228,515, or $0.12 per share, for the quarter ended September 30, 2009 compared to a net loss of $323,831, or $(0.03) per share, for the quarter ended September 30, 2008.

President and Chief Executive Officer, Michael Stout, MD, stated, "Considering the challenges we faced in 2009, we are very pleased with our results and accomplishments. The economic downturn we all encountered negatively impacted our revenue growth. Even though our revenues did not grow at the rate we had hoped, we reported record operating income. In addition, the investigation of our former Chief Financial Officer was a significant distraction. However, we believe we have made solid progress in our business and were able to open five new centers in the fiscal year. We will continue to seek growth opportunities and to improve our core operations in 2010 and beyond."

Joe Boyle, Executive Vice President and Chief Financial Officer, stated, "Due to the investigation of our former Chief Financial Officer, our filings with the Securities and Exchange Commission became delinquent. Our immediate goal is to catch up on all our filings as quickly as possible and become current. During 2009, we made significant improvements in both our internal controls and operating controls. We also made significant progress in implementing cost controls which is evidenced by our ability to increase our cash from $769,649 at September 30, 2008 to $2,755,156 at September 30, 2009."

UCI Medical Affiliates, Inc. ("UCI") is a Delaware corporation incorporated on August 25, 1982. Operating through its wholly-owned subsidiary, UCI Medical Affiliates of South Carolina, Inc. ("UCI-SC"), UCI provides nonmedical management and administrative services for a network of 67 freestanding medical centers, 66 of which are located throughout South Carolina and one is located in Knoxville, Tennessee (43 operating as Doctors Care in South Carolina, one as Doctors Care in Knoxville, Tennessee, 20 as Progressive Physical Therapy Services in South Carolina, one as Luberoff Pediatrics in South Carolina, one as Carolina Orthopedic & Sports Medicine in South Carolina and one as Doctors Wellness Center in South Carolina).

Certain of the statements contained in this press release and our Report on Form 10-K that are not historical facts are forward-looking statements subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. We caution readers of this press release and our Form 10-K that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Although our management believes that their expectations of future performance are based on reasonable assumptions within the bounds of their knowledge of their business and operations, we can give no assurance that actual results will not differ materially from their expectations. Factors that could cause actual results to differ from expectations include, among other things, (1) the difficulty in controlling our costs of providing healthcare and administering our network of centers; (2) the possible negative effects from changes in reimbursement and capitation payment levels and payment practices by insurance companies, healthcare plans, government payers and other payment sources; (3) the difficulty of attracting primary care physicians; (4) the increasing competition for patients among healthcare providers; (5) possible government regulations negatively impacting our existing organizational structure; (6) the possible negative effects of healthcare reform; (7) the challenges and uncertainties in the implementation of our expansion and development strategy; (8) the dependence on key personnel; (9) adverse conditions in the stock market, the public debt market, and other capital markets (including changes in interest rate conditions); (10) the strength of the United States economy in general and the strength of the local economies in which we conduct operations may be different than expected resulting in, among other things, a reduced demand for practice management services; (11) the demand for our products and services; (12) technological changes; (13) the ability to increase market share; (14) the adequacy of expense projections and estimates of impairment loss; (15) the impact of change in accounting policies by the Securities and Exchange Commission; (16) unanticipated regulatory or judicial proceedings; (17) the impact on our business, as well as on the risks set forth above, of various domestic or international military or terrorist activities or conflicts; (18) other factors described in our Form 10-K, including, but not limited to, those matters described under the caption "PART I – ITEM 1A. – RISK FACTORS," and in our other reports filed with the Securities and Exchange Commission; and (19) our success at managing the risks involved in the foregoing.

Contact: Joseph A. Boyle


Executive Vice President and Chief Financial Officer


UCI Medical Affiliates, Inc.


1818 Henderson Street


Columbia, South Carolina 29201


[phone]


www.ucimedinc.com

[MikeDDKing]

A great earnings report was out last night! More info coming soon.

[scion]

Securities and Exchange Commission v. Jerry F. Wells, Jr., Civil Action No. 3:09-CV-01792-MJP (D. S.C. July 6, 2009)

Litigation Release No. 21119 / July 8, 2009

Accounting and Auditing Enforcement Release No. 3008 / July 8, 2009

Securities and Exchange Commission v. Jerry F. Wells, Jr., Civil Action No. 3:09-CV-01792-MJP (D. S.C. July 6, 2009)

The Securities and Exchange Commission ("Commission") announced that on July 6, 2009, it filed a Complaint in the United States District Court for the District of South Carolina against Jerry F. Wells, Jr. ("Wells"). The Complaint alleges that Wells, a resident of Columbia, South Carolina, served as the Executive Vice President and Chief Financial Officer of UCI Medical Affiliates, Inc. ("UCI" or the "Company"). UCI is a public issuer and a provider of nonmedical management and administrative services based in South Carolina.

The Complaint alleges that between 2003 and 2008, Wells embezzled approximately $2.97 million from UCI through a variety of measures including: (1) using UCI's corporate credit card to pay personal expenses: (2) preparing false expense reports and submitting them for reimbursement; and (3) submitting unsupported check requests for non-business expenses, including construction work on Wells' personal residences and personal credit card accounts. The Complaint further alleges that Wells capitalized the expenses as fixed assets on the Company's balance sheet, rather than expensing them in their entirety as they were incurred, causing UCI to overstate its net earnings in the affected periods. According to the Complaint, to justify capitalizing these expenses, Wells altered invoices from contractors performing work on his personal residences to suggest that the work was for one of UCI's facilities, and provided fraudulent work descriptions on the related check requests. The Complaint also alleges that Wells signed each of the Company's Forms 10-Q and 10-K and accompanying Sarbanes-Oxley certifications, thereby misrepresenting that they did not contain any untrue statements of material fact. The Complaint further alleges that, in connection with the audit of the Company's annual financial statements, Wells also signed multiple management representation letters to UCI's auditors, thereby misrepresenting that the Company's financial statements were prepared in conformity with GAAP.

The Complaint charges Wells with violations of Sections 10(b) and 13(b)(5) of the Securities Exchange Act of 1934 ("Exchange Act"), and Rules 10b-5, 13b2-1, 13b2-2 and 13a-14, promulgated thereunder. Further, the Complaint charges Wells with aiding and abetting the Company's violations of Sections 13(a), 13(b)(2)(A) and 13(b)(2)(B) of the Exchange Act, and Rules 12b-20, 13a-1 and 13a-13, promulgated thereunder. Without admitting or denying the allegations in the complaint, Wells consented to the entry of an order (1) enjoining him from violating these statutes and rules and (2) barring him from serving as an officer and director of a public company.

The Commission thanks the United States Attorney's Office, District of South Carolina, and the Federal Bureau of Investigation in Columbia, South Carolina for their assistance in this matter.

SEC Complaint
http://www.sec.gov/litigation/complaints/2009/comp21119.pdf


http://www.sec.gov/litigation/litreleases/2009/lr21119.htm