NEWS OUT!
American HealthChoice Announces Second Quarter Financial Results; Patient Billings Up 29 Percent for Six Month Period
16 May 2005, 11:18am ET
FLOWER MOUND, Texas, May 16 /PRNewswire-FirstCall/ -- American HealthChoice, Inc. (BB:AMHI) announced today the financial results for the three months ended March 31, 2005, including a 34 percent increase in patient billings. Net income increased to $237,000 for the three months ended March 31, 2005, compared to a loss in 2004, and $356,000 for the six months ended March 31, 2005 compared to $8,000 for the same period in 2004.
Patient billings increased from $2,312,000 in the 2004 quarter to $2,897,000 in the 2005 quarter. Excluding the New Orleans clinic sold in September 2004, billings at Company-owned clinics increased $561,000. Billings at affiliated clinics increased to $367,000 in the 2005 quarter compared to $194,000 in the same quarter in 2004.
Patient billings for the six months ended March 31, 2005, increased to $5,370,000 compared to $4,475,000 for the six months ended March 31, 2004, a 29 percent increase excluding New Orleans clinic billings. Operating income for the period ended March 31, 2005 totaled $276,000 for the three month period compared to $1,000 in 2004, and $425,000 for the six months ended March 31, 2005, compared to $45,000 for the six months ended March 31, 2004.
"From quarter to quarter, we continually have shown the ability to attract more patients to our clinics. This success, combined with sales and rental of spinal decompression systems and other medical equipment, and upcoming improvements in our Telemedicine program are excellent indicators of our future," said Dr. J.W. Stucki, Chairman and CEO.
About American HealthChoice:
American HealthChoice is a medical services company comprised of a parent company and twenty five owned and affiliated medical clinics in Texas.
Mentioned Last Change
AMHI 0.12 0.002dollars or (1.69%)
Safe Harbor Statement: The statements in this release that relate to future plans, expectations, events, performance, and the like are forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Actual results or events could differ materially from those described in the forward-looking statements due to a variety of factors, including those set forth in the company's report on Form 10-KSB for fiscal year 2004 filed with the Securities and Exchange Commission on January 13, 2005.
CONTACT:
Dr. J.W. Stucki, CEO
American HealthChoice, Inc.
972/538-0122 x203
Paul Knopick
E & E Communications
949/707-5365
AI
