UMCI.04.Q out profitable.Revenues up, income up, .0039 for 3 months, and .0081 for 9 months x 10 P/E price of .08 should be IMO.Sh.Equity up=Book value now .017.
Total stockholders' equity ........................................ 499,375 262,371
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Total liabilities and stockholders' equity ........................ $ 1,510,886 $ 893,995
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The accompanying notes are an integral part of these condensed consolidated financial statements
1
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UNITED MEDICORP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
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2003 2002 2003 2002
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Revenues:
Billing, collection, and coding services $ 1,003,387 $ 870,751 $ 2,726,404 $ 2,471,169
Other revenues ......................... 43,650 53,692 74,275 90,733
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Total revenues ...................... 1,047,037 924,443 2,800,679 2,561,902
Expenses:
Wages and benefits ..................... 679,644 599,596 1,877,827 1,681,550
Selling, general and administrative .... 187,724 172,250 513,524 494,633
Depreciation and amortization .......... 29,506 16,476 71,132 61,828
Office, vehicle and equipment rental ... 4,087 5,814 14,417 15,891
Professional fees ...................... 27,906 15,654 73,270 42,962
Interest, net .......................... 5,576 7,252 13,556 15,314
Loss on disposal of assets ............. -- -- -- 1,716
Provision for doubtful accounts ........ -- (1,980) -- 343
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Total expenses ......................... 934,443 815,062 2,563,726 2,314,237
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Net income ................................... $ 112,594 $ 109,381 $ 236,953 $ 247,665
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Basic earnings per common share:
Net income ............................. $ 0.0039 $ 0.0037 $ 0.0081 $ 0.0085
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Weighted average shares outstanding .......... 29,213,550 29,210,217 29,211,884 29,210,217
Diluted earnings per common share:
Net income ............................. $ 0.0036 $ 0.0035 $ 0.0076 $ 0.0080
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Weighted average shares outstanding .......... 31,203,752 30,998,983 31,307,531 31,038,673 |
