American HealthChoice Announces Third Quarter Financial Results; Patient Billings Up 28 Percent for Nine Month Period
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15 August 2005, 1:47pm ET
FLOWER MOUND, Texas, Aug. 15 /PRNewswire-FirstCall/ -- American HealthChoice, Inc. (BB:AMHI) announced today the financial results for the three months ended June 30, 2005, including a 25 percent increase in patient billings. Net income increased to $239,000 for the three months ended June 30, 2005, compared to a loss in 2004, and $595,000 for the nine months ended June 30, 2005 compared to a loss for the same period in 2004.
Patient billings increased from $2,515,000 in the 2004 quarter to $2,949,000 in the 2005 quarter. Excluding the New Orleans clinic sold in September 2004, billings at Company-owned clinics increased $382,000 and billings at Affiliated clinics increased $213,000.
Patient billings for the nine months ended June 30, 2005, increased to $8,319,000 compared to $6,990,000 for the nine months ended June 30, 2005, a 28 percent increase excluding New Orleans clinic billings. Operating income for the period ended June 30, 2005 totaled $283,000 for the three month period compared to $4,000 in 2004, and $709,000 for the nine months ended June 30, 2005, compared to $48,000 for the nine months ended June 30, 2004.
"From quarter to quarter, we continually have shown the ability to attract more patients to our clinics. This success, combined with upcoming improvements in our Telemedicine program, are excellent indicators of our future," said Dr. J.W. Stucki, Chairman and CEO.
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