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Article: NuMed Home Health Care, Inc. Reports Revenues and Earnings for Fiscal 1997.
- Article from:
- Business Wire
- Article date:
- July 2, 1997
CopyrightCOPYRIGHT 1997 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CLEARWATER, Fla.--(BW HealthWire)--July 2, 1997--NuMED Home Health Care, Inc. ("NuMED") (NASDAQ Small Cap "NUMD" & "NUMDW") today announced financial results for the fiscal year ended March 31, 1997.
In the fiscal year ending March 31, 1997, revenue increased to $24.5 million from $24.1 million for fiscal year 1996. The Company experienced a net loss of $1,878,052 consisting of $979,052 from operations and $899,000 from estimated contractual settlement. The Company is in the process of appealing the settlements and feels confident of winning the appeal. The portion of loss from the operations was primarily due to the following reasons:
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