Monday June 18, 4:03 pm Eastern Time
Press Release
American Claims Evaluation, Inc. Reports Fourth Quarter and Year End Results
JERICHO, N.Y.--(BUSINESS WIRE)--June 18, 2001--American Claims Evaluation, Inc. (NASDAQ:AMCE - news) announced revenues of $1,151,006 and a net loss of $937,222 ($.22 net loss per share) for the year ended March 31, 2001.
By comparison, revenues for the year ended March 31, 2000 were $1,109,286 generating a net loss of $5,076, or no net earnings/loss per share.
As previously announced, net loss for the year ended March 31, 2001 was a result of an impairment charge of $916,976 recorded by the Company during the three month period ended December 31, 2000 related to its investment in IVCO Industries, Inc. common stock that was determined to have experienced an other than temporary decline in value.
In the three month period ended March 31, 2001, revenues totaled $318,164 as compared to revenues of $283,736 for the corresponding quarter ended March 31, 2000, an increase of 12%.
3 Months Ended Year Ended
(Unaudited) (Unaudited)
03/31/01 03/31/00 03/31/01 03/31/00
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Revenues $ 318,164 $ 283,736 $1,151,006 $1,109,286
Operating loss (129,369) (135,229) (487,759) (506,567)
Earnings (loss)
before provision
for income taxes (20,911) (3,085) (934,222) 2,924
Net loss (19,911) (7,085) (937,222) (5,076)
Net loss per share:
Basic $ .00 $ .00 $ (.22) $ .00
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Diluted $ .00 $ .00 $ (.22) $ .00
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Weighted average
common shares
outstanding:
Basic 4,273,500 4,273,500 4,273,500 4,273,500
Diluted 4,273,500 4,273,500 4,273,500 4,273,500
Except for the historical information contained herein, the matters discussed in this press release may contain forward-looking statements that involve risks and uncertainties. The Company's actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include, but are not limited to, general economic and market conditions, the potential loss or termination of existing clients and contracts and the ability of the Company to successfully identify and thereafter consummate one or more acquisitions.
American Claims Evaluation, Inc., through its wholly owned subsidiary, RPM Rehabilitation & Associates, Inc., offers a full range of vocational rehabilitation and disability management services.
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Contact:
American Claims Evaluation, Inc., Jericho, NY
Gary J. Knauer, Chief Financial Officer, 516/938-8000 |
