The Quantum Group Announces 1st Quarter Financial Results for Fiscal Year 2009
24 3월 2009 - 8:00PM
PR Newswire (US)
WELLINGTON, Fla., March 24 /PRNewswire-FirstCall/ -- The Quantum
Group, Inc. (NYSE Amex: QGP) (http://www.quantummd.com/) announced
financial results for 1st quarter of fiscal year 2009 and reported
revenues of $7,363,593 for the quarter ending January 31, 2009. The
Company reported $2,739,475 in revenues for the same quarter of
fiscal year 2008, marking an increase of nearly 168%. The reported
revenues also reflect a 32% increase from the fourth quarter of
2008 of $5,565,009. The Company reported a loss from operations of
$3,741,495 in the first quarter of fiscal year 2009 versus
$2,794,903 from the same quarter in fiscal year 2008. This reflects
an increase of 34%. The cash used from operating activities during
the first quarter of fiscal year 2009 was $1,485,090 as compared to
$1,980,099 for the first quarter of fiscal year 2008, which
represents a reduction of 25% from the first quarter of 2008. The
Company reported a loss of $3,830,581 for the quarter versus
$10,689,225 for the first quarter of fiscal year 2008, and resulted
in a loss per share of $0.40 versus $1.85 per share for the same
period in 2008. The reduction in the net loss was due to the
reduction in financing costs. Noel J. Guillama, President & CEO
of The Quantum Group, commented, "We are pleased by the continued
progress of our core business operations. Renaissance continues to
expand contractual relationships and we expect to add two national
payers this year. We are in negotiations with payers for the bulk
transfer of patient lives in both Medicare and Medicaid to be
managed by Renaissance. These expansions are expected to occur
after the close of open enrollment (March 31st) and are anticipated
to have an impact on upcoming quarters. We continue to make great
strides with our internal reporting and management controls within
the patient care operations. This will enable us to continue to
reduce our costs as we realize greater efficiencies and savings.
Additionally, Renaissance is exploring expansion into additional
states by the end of the calendar year." Guillama continued,
"Quarter over quarter our results demonstrate the strength of our
business model and we expect this upward trajectory to be further
enhanced by the continued deployment of our state-of-the-art
healthcare technology platform PWeR(TM) (Personal Wellness
electronic Record) throughout this year. We believe the
opportunities ahead for PWeR will be of great value to our 2,000
affiliated providers. Further, as a patient centric platform, PWeR
has the ability to connect and provide value to payers, facilities
and providers, as well as state and federal governmental agencies
and is directly in line with the objectives of the federal Stimulus
Package. The platform represents multiple potential revenue
channels for Quantum and our sales and development efforts are
underway to facilitate that growth. We believe we have the right
technology platform at the right time and with a solid foundation
on which to build. Further, we believe that the results of our
efforts will be demonstrated as the year progresses and we explore
expansion to various states before the end of the calendar year."
The Stimulus Package (American Recovery and Reinvestment Act of
2009) has designated $19.2 billion for the healthcare industry,
largely to computerize the industry and improve the quality of
patient care. The Company believes PWeR will benefit as the
Stimulus provides for economic incentives for providers and
hospitals to implement and utilize electronic health record
systems. About The Quantum Group, Inc. The Quantum Group is an
innovation-driven Healthcare Services Organization (HSO) that
provides business process solutions, service chain management,
strategic consulting and leading edge technology to the healthcare
industry. We have developed PWeR(TM), a cutting-edge,
patent-pending healthcare technology platform that we believe to be
in line with President Obama's agenda for healthcare reform. The
Stimulus Package provides $19.2 billion for the implementation of
healthcare information technology to infuse efficiencies, reduce
costs and improve the quality of patient care. PWeR can integrate
all of the functions a physician/provider, hospital, clinic and
related professionals utilize in one patient-centric, web-based
platform and falls well within the economic incentives offered by
the new law. We believe we are positioned to be a catalyst for
change as we take aim at the $700 billion inefficiency gap in the
United States healthcare industry. Certain statements contained in
this news release, which are not based on historical facts, are
forward-looking statements as the term is defined in the Private
Securities Litigation Reform Act of 1995, and are subject to
substantial uncertainties and risks in part detailed in the
respective company's Securities and Exchange Commission 10-K, 10-Q,
S-8, SB-2, S-1 and 8-K filings (and amendments thereto) that may
cause actual results to materially differ from projections.
Forward-looking statements can be identified by the use of words
such as "expects," "plans," "will," "may," "anticipates,"
"believes," "should," "intends," "estimates" "could" and other
words of similar meaning. These statements are subject to risks and
uncertainties that cannot be predicted or quantified and,
consequently, actual results may differ materially from those
expressed or implied by these forward-looking statements. Such risk
factors include, without limitation, the ability of the Company to
properly execute its business model, to raise substantial and
immediate additional capital to implement its business model, to
continue revenue growth trend in fiscal year 2009, to control
patient medical cost relative to income received, to attract and
retain executive, management and operational personnel, to continue
growing its patient base, to negotiate favorable current debt and
future capital raises, to negotiate favorable agreements with a
diversified provider base and to continue to supply the services
needed by its HMO clients as well as physician clients. We have
further risk in the deployment of our technology platform, the
utilization by our clients, technical and software setbacks, cost
of development, as well as the capital to deploy it. We are subject
further to interruptions of service. Company does not undertake any
obligation to publicly update any forward-looking statements. As a
result, investors should not place undue reliance on these
forward-looking statements. FOR MORE INFORMATION, PLEASE CONTACT:
PR Financial Marketing Jim Blackman: 713-256-0369 or Red Chip
Companies Dave Gentry: 407-644-4256 or The Quantum Group, Inc.
Danielle Amodio: 561.798.9800 DATASOURCE: The Quantum Group, Inc.
CONTACT: PR Financial Marketing, Jim Blackman: +1-713-256-0369, ,
or Red Chip Companies, Dave Gentry: +1-407-644-4256, , or The
Quantum Group, Inc., Danielle Amodio: +1-561-798-9800, Web Site:
http://www.quantummd.com/
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