American CareSource Holdings Reports 407% Increase in Revenues for First Quarter 2008
April 23 2008 - 8:05AM
Marketwired
DALLAS, TX today reported a 407% increase in revenues to
approximately $11.5 million for the first quarter ended March 31,
2008 compared to approximately $2.3 million in the same period last
year. The Company's first quarter revenues also represent a 14%
improvement over fourth quarter 2007 reported revenues of $10.1
million.
"Our first quarter 2008 revenues continued the strong upward
trend we began last year and are a direct reflection of the ongoing
strength in demand for our expanding array of outsourced ancillary
services, among both new and existing clients," noted David S.
Boone, Chief Executive Officer of American CareSource. "We are on
track to exceed our initial guidance of $50 million for full year
2008 revenues. We are looking forward to future announcements of
new customer wins, expansion of our provider network and continued
strong organic growth in the coming months."
American CareSource will host a conference call to discuss the
first quarter financial results on Thursday, May 15, 2008 at 10:00
a.m. central time. The Company will issue a press release reporting
full financial results the same morning.
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 25,000 ancillary
provider sites. Through its product offerings, American CareSource
helps its clients reduce the cost of ancillary services rendered
through its network of providers in more than 30 service
categories. 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.
Any statements in this release that are not historical facts are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. 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, our inability to
continue partnering with our clients, our inability to continue to
experience growth and the risk that, even with increases in
revenue, we may not be able to experience earnings on a sustained
level, the risks associated with product development and of market
demand for our products, competitive forces, our inability to
adequately protect our intellectual property rights, downturns in
national and local economies and economic conditions in the
healthcare industry, the effect of changes in governmental
regulations in the healthcare industry, and other risks identified
from time to time in the Securities and Exchange Commission filings
of American CareSource Holdings, Inc.
Contact: David S. Boone Chief Executive Officer American
CareSource Holdings, Inc. Tel: 972-308-6830
American Caresource Holdings (AMEX:XSI)
Historical Stock Chart
From May 2024 to Jun 2024
American Caresource Holdings (AMEX:XSI)
Historical Stock Chart
From Jun 2023 to Jun 2024