The Amacore Group, Inc. Projects Approximately $10 Million in Revenues for the Third Quarter 2008
Company Expects Full Year Revenue Guidance of $35 Million
LAKE MARY, Fla., Sep 16, 2008 (BUSINESS WIRE) -- The Amacore Group, Inc., (OTC BB: ACGI), a leader in providing health-related membership benefit programs, insurance programs, and other innovative and high quality solutions to individuals, families and employer groups nationwide, today announced that based on results to date, revenues for the third quarter 2008 are expected to reach $10 million, a 25% increase over the second quarter 2008 and a 50-fold increase over the same quarter a year earlier. Despite the Company's continuing increases in revenue, the Company still does not expect to achieve profitability until the fourth quarter of 2008.
Jay Shafer, CEO of the Amacore Group, said, "We are pleased to note that our revenues through the third quarter of 2008 continue to exceed our earlier projections. We believe this is directly attributable to the unique design of our system of distribution channels which were put in place, and implemented, specifically to accommodate and buffer against various changes in our economy and demographics. A year earlier, our revenues were miniscule compared to today, and while unemployment has risen dramatically, we continue to grow. We are convinced that our remarkable growth pattern over the past year is directly related to our continued focus on our various distribution channels, our capability of quickly reacting to change, our ability to reach consumers wherever they may be located and our maintenance of one of the best back-office software systems in the nation. We intend to maintain this focus, further enhance our distribution channels and back-office systems and continue our growth pattern throughout the remainder of 2008. We fully expect to meet our full-year revenue projections of $35 million as indicated in our April 2008 release."
About The Amacore Group, Inc.
The Amacore Group, Inc. (www.amacoregroup.com)
Amacore, through its unique distribution model, has partnered with some of the nation's top rated carriers to bring to individuals, families and employer groups nationwide a cutting-edge portfolio of health insurance products ranging from traditional major medical insurance to high-deductible plans, Health Saving Accounts, PPO's, limited medical coverage as well as dental, vision and prescription drug plans. These programs are designed to provide consumers with a broad array of product offerings and choices, and marketing partners with compelling new business opportunities in the multi-trillion dollar healthcare market. Leveraging that unique portfolio, Amacore offers a business partner model that combines development innovation with technology and resource tools that create a partner approach that is industry-leading, supportive and cutting edge. Amacore's drive for industry leadership began with a clear purpose: to have a positive impact on healthcare in America. Amacore embraces consumer-driven healthcare and works with a variety of partners to educate, advocate, present and provide consumers with the many options available to them. The key to our success has been to implement a strategy that results in giving different customers very unique and compelling reasons to choose Amacore programs. Amacore offers real solutions in the marketplace and is poised for real growth. We are committed to offering the highest quality products with cutting edge and industry leading infrastructure, tools, customer service and support for our partners and clients.
Through its wholly-owned subsidiary, LifeGuard Benefit Solutions, Inc., Amacore now has the ability to provide administrative and back-office services to other healthcare companies, in addition to expanding its own call center capability through its wholly-owned subsidiaries, JRM Benefits Consultants, LLC, and its recently acquired, US Health Benefits Group, Inc. Zurvita, Inc., Amacore's newly formed, wholly-owned subsidiary specializing in direct to consumer multi-level marketing, provides yet another channel for Amacore's ever-increasing range of healthcare and healthcare-related products.