SALT LAKE CITY, May 16, 2013 (GLOBE NEWSWIRE) -- ActiveCare, Inc. (OTCBB:ACARD), the service leader in disease and diabetes management today announced financial results for its fiscal 2013 second quarter ended March 31, 2013. The Company reported quarterly revenues of $4,843,000 with a gross profit of $902,000. These results compare to revenues of $180,000 and a negative gross profit of $90,000 for the same period previous year, an increase of $4,663,000 and $992,000 respectively. "This increase is a good indicator of the broadening acceptance of our Monitoring and Wellness Programs," stated Michael Acton, CFO of ActiveCare. Currently ActiveCare has approximately 24,000 members purchasing its diabetic and PERS products and services. Management anticipates that the Company will have enrolled more than 40,000 members by the end of calendar 2013. The Company attributes these increases to the demand for and success of the Company's real-time Monitoring and Care Management Solutions.
"With healthcare costs climbing ever higher, self-insured companies continue to look for ways to reduce costs while improving employee health. ActiveCare is well positioned for continued growth in the future as it assists its clients to control healthcare costs. 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. This exceptional growth has continued into 2013 with March quarter revenue of $4,843,000. With all of our monitoring products being well received by the market, this growth is expected to continue into the foreseeable future," continued Acton.
March 31, 2013 Quarterly Results
Revenues grew to $4,843,000 for the quarter ended March 31, 2013, compared to $180,000 for the comparable quarter in 2012, an increase of $4,663,000. Loss from operations increased from $1,637,000 in March, 2012 to $1,658,000 in March, 2013, an overall increase of $21,000. However of the $1,658,000 only $1,585,000 was a cash loss as compared to $878,000 cash loss for the same quarter in 2012. Net cash used in operating activities was $4,747,000 for the March 31, 2013 quarter compared to $1,168,000 for the March 31, 2012 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 ACARD, for the next twenty days then will resume trading under (ACAR OTCBB).
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 email@example.com.
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.