American Caresource Holdings, Inc. Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013
February 28, 2014 at 01:09 pm EST
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American Caresource Holdings, Inc. announced consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported net revenues of $6,210,000 compared to $9,100,000 a year ago. Loss before income taxes was $259,000 against $626,000 a year ago. Net loss was $267,000 or $0.05 per basic and diluted share against $629,000 or $0.11 per basic and diluted share a year ago. The improvement was realized largely because of a positive shift in provider margins and company efforts to reduce non-variable costs in areas such as professional and consulting fees. LBITDA was $79,000 against $403,000 a year ago. Adjusted EBITDA was $39,000 against adjusted LBITDA of $247,000 a year ago.
For the year, the company reported net revenue of $26,751,000 compared to $34,902,000 a year ago. Loss before income taxes was $3,760,000 against $3,060,000 a year ago. Net loss was $3,785,000 or $0.66 per basic and diluted share against $3,091,000 or $0.54 per basic and diluted share a year ago. LBITDA was $2,987,000 against $2,190,000 a year ago. Adjusted LBITDA was $2,382,000 against $1,437,000 a year ago. Net cash used in operating activities was $4,188,000 against $74,000 a year ago. Additions to property and equipment were $12,000 against $109,000 a year ago.
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.
AMERICAN CARESOURCE HOLDINGS, INC. 
