Curative Health Services Posts Second-Quarter Loss
Posted on: Thursday, 11 August 2005, 21:00 CDT
Aug. 10--NASHUA -- Curative Health Services Inc. announced Tuesday that its second quarter revenues were up, but it posted a larger loss than the same time last year. The second quarter ended June 30.
The company provides products that help patients live with serious or chronic medical conditions.
Total revenues for the second quarter were $71.6 million, compared with $64.4 million at the same time last year, an increase of 11.2 percent.
The company's net loss, under U.S. generally accepted accounting principles or GAAP, was $4.8 million, or 37 cents per diluted share, compared with $3.1 million, or 24 cents per diluted share, for the second quarter of 2004.
For the second quarter, the company recorded a loss before interest income and expense, other expense and taxes, or EBIT, of $700,000 and earnings before interest income and expense, other expense and taxes excluding charges and adjustments, or adjusted EBIT, of $1.9 million.
Earnings before interest income and expense, other expense, taxes and depreciation and amortization, or EBITDA for the second quarter, was $1.3 million.
The company said that its strategic focus this year will be the opening of new full-service pharmacies in strategic markets and management of cash flow. Company officials said they believe that there is adequate working capital to service its debt and to implement its expansion plans, and it may open additional pharmacies beyond those already planned.
Curative Health moved its headquarters to 61 Spit Brook Road in Nashua last December from New York, saying it would save $3.5 million a year once the move was completed.
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CURE,
Source: The Telegraph
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