American CareSource Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014
August 13, 2014 at 09:00 am EDT
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American CareSource Holdings, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net revenues of $5,971,000 compared to $6,443,000 for the same period a year ago. Operating loss was $1,325,000 compared to $1,512,000 last year. Loss before income taxes was $1,338,000 compared to $1,505,000 last year. Net loss was $1,342,000 or $0.21 per basic and diluted share compared to $1,509,000 or $0.26 per basic and diluted share last year. LBITDA was $1,110,000 compared to $1,300,000 last year. Adjusted LBITDA was $746,000 compared to $1,008,000 last year.
For the six months, the company reported net revenues of $10,979,000 compared to $14,048,000 for the same period a year ago. Operating loss was $2,767,000 compared to $2,664,000 last year. Loss before income taxes was $2,776,000 compared to $2,649,000 last year. Net loss was $2,777,000 or $0.46 per basic and diluted share compared to $2,660,000 or $0.47 per basic and diluted share last year. LBITDA was $2,374,000 compared to $2,241,000 last year. Adjusted LBITDA was $1,671,000 compared to $1,872,000 last year. Net cash used in operating activities was $2,230,000 compared to $2,685,000 last year. Additions to property and equipment were $58,000 compared to $11,000 last year.
American CareSource Holdings, Inc. is a provider of urgent and primary care services. The Company owns and operates over 10 urgent and primary care centers in the east and southeastern United States. The Company operates through urgent and primary care business segment. The Company's services provided at its centers include treatment of general medical problems, including colds, influenza, ear infections, hypertension, asthma, pneumonia, urinary tract infections and other conditions typically treated by primary care providers; treatment of injuries, such as simple fractures, dislocations, sprains, bruises and cuts; minor, non-emergent surgical procedures, including suturing of lacerations and removal of cysts and foreign bodies; diagnostic tests, such as x-rays, electrocardiograms, complete blood counts and urinalyses, and occupational and industrial medical services, including drug testing, workers' compensation cases and physical examinations.