Pacer Health Corporation Reports First Quarter Profit and Revenue Growth MIAMI--(BUSINESS WIRE)--May 25, 2005--According to financial statements filed Friday, May 20, Pacer Health Corporation (OTCBB:PHLH - News), a Miami-based owner-operator of acute care hospitals, medical treatment centers and psychiatric care facilities, has reported a net profit of $8,870.00 for the quarter ended March 31, 2005, compared to a net loss of $753,449.00 for the same period in 2004. Pacer Health's profit for the quarter is derived from total revenue of $2,510,551.00, which includes net patient revenue of $2,210,551.00 from wholly owned facilities, and $300,000.00 in revenue from management fees. This compares to total income of $152,843.00 for the same period in 2004. "Pacer Health is not only demonstrating the efficacy of its business model, but also that it can stay on course as a profitable company that creates value for its shareholders," said Rainier Gonzalez, chairman and CEO of Pacer Health. "Once we complete our planned acquisition in Georgia later this year, we will be on track to eclipse last year's revenue totals in 2005." Last month, Pacer Health reported a net profit of $390,896.00 for the year ended December 31, 2004 and total revenue of $9,424,473.00 for that year. Because of the cyclical nature of the medical industry sectors in which Pacer Health operates, the company projects increases in operating profit for the fourth quarter of 2005. Pacer Health specializes in the operation of medical facilities in non-urban areas with smaller populations and fewer healthcare operators. The company plans to expand its business over the next several years, largely through the acquisition of medical facilities including financially distressed facilities that would require a restructure of their operations to ensure financial viability, and the consolidation of these properties under the Pacer Health brand.
|
