American Caresource Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Cash Flow Results for the Nine Months Ended September 30, 2015
November 17, 2015 at 09:04 pm EST
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American Caresource Holdings, Inc. reported unaudited consolidated earnings results for the third quarter and cash flow results for the nine months ended September 30, 2015. For the quarter, the company reported net revenue of $6,518,000 compared with $6,763,000 a year ago. Operating loss was $2,479,000 compared with $1,628,000 a year ago. Loss before income taxes was $2,190,000 compared with $1,680,000 a year ago. Net loss was $2,190,000 or $0.39 per diluted share compared with $1,454,000 or $0.22 per diluted share a year ago. The increase in the net loss is primarily attributable to costs incurred in the support and operation of its growing urgent and primary care business.
For the nine months, the company's net cash used in operating activities was $5,923,000 compared to $3,096,000 a year ago. Additions to property and equipment were $193,000 compared to $5,452,000 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. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Cash Flow Results for the Nine Months Ended September 30, 2015