YFMC Healthcare Inc
YFM
Shares issued 9,664,000
1998-11-19 close $0.37
Friday Nov 20 1998
Dr. Donald Wilson reports
YFMC's strong performance continued in the third quarter ended Sept. 30, 1998 with a 57 per cent increase in revenues over the same period a year ago. Earnings from operations rose from $125,000 to $202,000 an increase of 62 per cent, and net earnings for the period reached $148,000 (1.5 cent/share), a 56 per cent increase over the similar period in 1997.
The company continues to maintain positive working capital and remains well-financed. During the period the company purchased the assets of a primary care medical centre in Orleans, Ontario, and exercised an option to acquire 85 per cent of the shares of a physiotherapy and rehabilitation facility in Ottawa, Ontario. Both operations are expected to integrate smoothly and should begin to contribute to
earnings in the fourth quarter. Subsequent to Sept. 30, the company signed a letter of intent to purchase a primary care medical centre in Alberta, and, has also entered into an agreement with Richmond Technical Services, a subsidiary of DC DiagnostiCare to purchase
a majority interest in a pulmonary function testing facility serving the Ottawa Valley. |
