American CareSource Holdings Reports 127% Increase in Revenues for Third Quarter 2008
22 Oktober 2008 - 1:05PM
Marketwired
American CareSource Holdings, Inc. (NASDAQ: ANCI) today reported a
127% increase in revenues to approximately $16.1 million for the
third quarter ended September 30, 2008 compared to approximately
$7.1 million in the same period last year. The Company's third
quarter revenues also represent a 24% improvement over second
quarter 2008 reported revenues of $13.0 million. For the nine
months ended September 30, 2008, the Company reported a 204%
improvement in revenues to approximately $40.6 million compared to
the same period in 2007.
"The 2008 third quarter results represent our sixth consecutive
quarter of record revenue expansion," stated David S. Boone, Chief
Executive Officer of American CareSource. "This reflects the
enormous opportunity in the market for us to pursue and confirms
our organization's ability to execute against that growth
potential. New technology and continued medical cost containment
pressure are helping drive more ancillary care services to be
performed in alternate settings. We believe that our network of
high quality, cost effective ancillary care service providers will
play an important role in containing overall healthcare costs."
American CareSource will host a conference call to discuss the
third quarter financial results on Thursday, November 13, 2008 at
10:00 a.m. central time. The Company will issue a press release
reporting full financial results the same morning.
About Ancillary Healthcare Services
American CareSource provides ancillary healthcare services
through its network that offers cost effective alternatives to
physician and hospital-based services. This market is estimated at
$574 billion, and has grown to 30% of total national health
expenditures. These providers offer services in over 30 categories,
including laboratories, dialysis centers, free-standing diagnostic
imaging centers, non-hospital surgery centers, as well as durable
medical equipment such as orthotics and prosthetics, and
others.
About American CareSource Holdings, Inc.
American CareSource Holdings, the first national, publicly
traded ancillary care network services company, offers a
comprehensive national network of approximately 2,500 ancillary
service providers at over 25,000 sites. The Company's ancillary
network and management provides a complete outsourced solution for
a wide variety of healthcare payors and plan sponsors including
self-insured employers, indemnity insurers, PPOs, HMOs, third party
administrators and both federal and local governments. For
additional information, please visit www.anci-care.com.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995:
Any statements that are not historical facts contained in this
release are forward-looking statements. It is possible that the
assumptions made by American CareSource Holdings, Inc. for purposes
of such statements may not materialize. Actual results may differ
materially from those projected or implied in any forward-looking
statements. Such statements may involve further risks and
uncertainties, including but not limited to those relating to
demand for our services, pricing, market acceptance, timing, issues
relating to client implementation and the effect of economic
conditions, competition and other risks identified in this release,
and the Securities and Exchange Commission filings of American
CareSource Holdings, Inc.
Contact: Steven J. Armond Chief Financial Officer American
CareSource Holdings, Inc. 972-308-6847
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