OREM, Utah, Aug. 28, 2013 (GLOBE NEWSWIRE) -- ActiveCare, Inc. (OTCBB:ACAR), the service leader in disease and diabetes management today reported revenues for the third quarter and nine months ended June 30, 2013.
Third quarter & Nine Month Results
The Company reported net revenues of $4,327,677 compared to net revenues of $296,660 thousand for the third quarter ended June 30, 2012, an increase of $4,031,017. Gross profit for the third quarter was $913,915 compared to a deficit of $37,642 for the third quarter ended June 30, 2012. Net loss for the three months ended June 30, 2013 was $3,122,320 of which $1,768,549 was a cash loss from operating activities compared to a net loss of $2,442,706 of which $760,934 was a cash loss from operating activities for the three months ended June 30, 2012. Revenues grew to $11,414,094 for the nine months ended June 30, 2013, compared to $424,405 for the nine months ended June 30, 2012, an increase of $10,989,689. Gross profit for the nine months ended June 30, 2013 was $1,947,285 compared to a deficit of $241,882 for the nine months ended June 30, 2012.
During the nine months ended June 30, 2013, ActiveCare has increased the number of members utilizing its products and services significantly. Management anticipates the Company will have enrolled more than 50,000 members by the end of calendar year 2013. The Company attributes these increases to the overwhelming demand for and success of the Company's revolutionary Monitoring and Care Management solutions.
"This past year, ActiveCare continued to experience strong demand and interest for its Monitoring and Wellness Programs and emergency response solutions," stated David Derrick, Chairman and Chief Executive Officer of ActiveCare. "With our uniquely positioned offering, ActiveCare is primed for dramatic growth as our value proposition is further recognized by members and health plan clients. Our rapid revenue growth is a clear reflection of the value of our Wellness Programs and are optimistic that this growth trend will continue as the focus on controlling healthcare costs intensifies."
ActiveCare, Inc. is the telehealth and personal emergency response solution leader. Headquartered in Orem, Utah, and publicly traded on the OTC market 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.
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, regulatory uncertainty and economic pressure on the healthcare industry in particular, the governmental regulation of our products, manufacturing and marketing risks, adverse publicity risks, and risks associated with assimilating our recent acquisitions. 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.
CONTACT: Investor Contact: Adam Holdsworth, Managing Director ProActive Capital Group, LLC (646)-863-6341 Media Contact: Sandra Lee, Managing Director ProActive Capital Group, LLC (646)-863-6341