SALT LAKE CITY, Feb. 20, 2013 (GLOBE NEWSWIRE) -- ActiveCare, Inc. (OTCBB:ACAR), the service leader in disease and diabetes management reported revenues for the quarter ended December 31, 2012. The Company reported net revenues of $2,497,000 with a gross margin of $217,000 compared to net revenues of $169,000 for the same quarter in December, 2011, an increase of $2,328,000 or nearly 1,400%. During the three months ended December 31, 2012, ActiveCare increased the number of members purchasing its diabetic supplies and PERS products from 6,000 to more than 13,000. Management of the Company anticipates the Company will have enrolled more than 50,000 members by the end of calendar 2013. The Company attributes these increases to the overwhelming demand for and success of the Company's revolutionary Monitoring and Care Management solutions.
"Over the past three months, with the addition of several large contracts, ActiveCare has seen overwhelming acceptance of its Monitoring and Wellness Programs and emergency response solutions," stated Michael Acton, CFO of ActiveCare. "With our one-of-a-kind programs, ActiveCare is well positioned for dramatic growth in the future as it assists its members and health plan clients to control healthcare costs," continued Acton. "Correspondingly we have seen our revenues increase from $180,000 in the March 2012 quarter when our Wellness Programs were first introduced to $430,000 in the June 2012 quarter, and $730,000 for the September 2012 quarter allowing us to finish the calendar year on a high note with December Quarter revenue of $2,497,000. With all of our monitoring products being well received by the market, this growth is expected to continue into the foreseeable future," continued Acton.
September 30, 2012 Year-end Results
Revenues grew to $2,497,000 for the quarter ended December 31, 2012, compared to $169,000 for the comparable quarter in 2011, an increase of $2,328,000, or nearly 1,400%. Loss from operations decreased from $4,069,000 in December 31, 2011 to $2,598,000 in December 31, 2012, an overall decrease of $1,470,000. However of the $2,598,000 only $1,601,000 was a cash loss as compared to a $700,000 cash loss for the same quarter in 2012. Net Cash used in operating activities was $2,864,000 for the December 31, 2012 quarter compared to $448,000 for the December 31, 2011 quarter.
ActiveCare, Inc. is the telehealth and personal emergency response solution leader. Headquartered in Salt Lake City, Utah, and publicly traded on the OTC Bulletin Board under symbol ACAR, ActiveCare is committed to providing consistent excellence in quality and safety, and friendly care for members and caregivers alike. To learn more about ActiveCare, Inc., visit the website at www.activecare.com or contact investor/media relations at 877-862-5545 or firstname.lastname@example.org.
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This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Our actual results could differ materially from those projected in these forward-looking statements, which involve a number of risks and uncertainties, including global economic conditions generally, the governmental regulation of our products, manufacturing and marketing risks, adverse publicity risks, and risks associated with our international expansion. Forward-looking statements in this press release include, without limitation, the statement regarding anticipated member counts of approximately 50,000 by calendar year-end 2013, as well as the statements regarding dramatic growth and continued growth in the future. The contents of this release should be considered in conjunction with the risk factors, warnings, and cautionary statements that are contained in our most recent filings with the Securities and Exchange Commission.