MARKET GUIDE PROFILE: UHCI
Book value $.51, 7.1 million shares outstanding, 1.1 million shares in the float
Recent news earnings per share $.03 (turnaround)
Today volume has started to pick up, investors have noticed this company.
Other news stories on Yahoo.
Here are the Due Dil. for your review:
Universal Std. Healthcare OTC BB : UHCI
Address: 26500 Northwestern Highway
Southfield, MI 48076
Phone: (248) 358-0810
Fax: (248) 358-2358
Sector: Healthcare
Industry: Healthcare Facilities
Employees: 531
Officers: Eugene Jennings, Chmn./Pres./CEO
John Watkins, Vice Chmn.
Alan Ker, VP-Fin./CFO/Treas./Asst. Secy.
Lou Gorga, VP/COO
Thomas Vaughn, Secy.
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Business Summary
Universal Standard Healthcare provides managed care laboratory programs to major employers, union and government benefit plans, and large purchasing organizations as a means of controlling health care costs. For the nine months ended 9/30/98, revenues increased 46% to $20.1 million. Net income from continuing operations fell 48% to $136 thousand. Results reflect increased managed care revenue from a contract with GM, offset by lower margins due to the GM contract.
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Statistics at a Glance -- UHCI Last Updated: Apr 23, 1999
Price and Volume
(updated Apr 23, 1999)
52-Week Low $0.063
Recent Price $0.344
52-Week High $3.375
Beta 1.40
Daily Volume (3-month avg) 45
Share-Related Items
Market Capitalization $2.94M
Shares Outstanding 8.54M
Float 1.10M
Dividend Information
Annual Dividend none
Per-Share Data
Book Value (mrq) $0.51
Earnings (ttm) -$0.01
Sales (ttm) $4.85
Cash (mrq) $0.21
Valuation Ratios
Price/Book (mrq) 0.68
Price/Earnings N/A
Price/Sales (ttm) 0.07
Income Statements
After-Tax Income (ttm) -$61.0K
Sales (ttm) $49.4M
Profitability
Profit Margin (ttm) -0.2%
Management Effectiveness
Return on Assets (ttm) -0.19%
Return on Equity (ttm) -1.04%
Financial Strength
Current Ratio (mrq) 1.17
Long-Term Debt/Equity (mrq) 2.89
Total Cash (mrq) $1.81M
Short Interest
Shares Short
as of Feb 8, 1999 0
Short Ratio N/A
Stock Performance
big chart [1d | 5d | 3mo | 1yr | 2yr | 5yr | max]
See the Profile FAQ for a description of each item above; K = thousands; M = millions; mrq = most-recent quarter (Sep 30, 1998); ttm = trailing twelve months through Sep 30, 1998
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Related Quotes
UHCI
3/8
+1/32
delayed 20 mins - disclaimer
Friday April 23, 8:01 am Eastern Time
Company Press Release
Universal Standard HealthCare Inc. Reports First Quarter Results
First Positive Quarter Since June, 1995
Company's Results Exceed Analyst Expectations
SOUTHFIELD, Mich.--(BW HealthWire)--April 23, 1999--Universal Standard HealthCare Inc. (OTC:UHCI - news) announced today that net revenue for the first quarter of 1999 was $5.0 million, compared to $6.9 million for the first quarter of 1998.
The primary reason for the decrease in revenue relates to the termination of the unprofitable General Motors Corp. administrative services contract for $2.1 million previously announced in the 1998 yearend financial press release. The revenue decrease was partially offset by the initial implementation of the Whirlpool contracts which when fully integrated will generate approximately $7 million in new revenue.
Earnings before interest, taxes, depreciation, amortization, and other income (EBITDA) was $560,000 for the first quarter 1999 vs. $513,000 for the first quarter of 1998. The increase in EBITDA reflects the streamlined administrative expenses the company has implemented in 1999.
Net income for the quarter was $528,000 or 7 cents per share, compared to $172,000 or 3 cents per share for the first quarter of 1998. The increase in net income reflects a gain of $262,000 from sales of assets as well as improvement in operating income.
''Our first quarter results start to show the impact of all that was accomplished to invest in our specialty services business in 1998. With lab business sold, we can now focus on growing our specialty healthcare services business,'' stated Eugene Jennings, Chairman.
The information in the press release contains forward-looking statements within the meaning of the Securities Exchange Act of 1934. Please refer to the company's Annual Report on Form 10-K for 1998 for a description of factors that could cause actual results to differ materially from these in the forward-looking statements, uncertainties inherent in the company's efforts to successfully complete the Work out Strategy; intense competition in the managed care business, particularly from larger, better capitalized companies; dependence of the company on third parties to provide services under its managed care programs; uncertainties due to the fact that the company's programs are generally terminable by the customer on short notice and many of the company's service arrangements are terminable on short notice; periodic disputes between the company and its primary clinical laboratory provider, LabCorp, and related threats by LabCorp to terminate the existing Laboratory Services Agreement for alleged breaches by the company; the impact of the highly regulated nature of the managed care business on the company's continuing operations; the cost and the ability of the company to continue to satisfy increasing regulatory requirements relating to the managed care business; the long sales cycle involved in the managed care business; the dependence of the company on a limited number of large customers for its revenue and growth, most of whom are involved in the automotive industry; the ability of the company to develop new managed care products offered by the company; the ability of the company to identify and satisfy market needs; potential increases in operating costs resulting from the failure of the company's principle suppliers to become year-2000 compliant; and economic conditions in the health care and automotive industries in general.
Universal Standard HealthCare Inc. is a premier managed care health services company which owns subsidiaries operating in all 50 states, currently providing clinical laboratory, outpatient diagnostic imaging, and home medical services (including durable medical equipment, supplies, and infusion) coverage to employees on a capitated bases. ''Covered Persons'' under managed care contracts of approximately 1 million.
The following summarizes UHCI's financial performance for the quarter ended March 31, 1999.
UNIVERSAL STANDARD HEALTHCARE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except share amounts)
Three months ended
March 31,
1998 1999
---- ----
Net managed care revenue $6,941 $4,992
----------- -----------
6,941 4,992
Operating expenses:
Claims and Processing 5,085 3,495
Selling, general and administrative 1,343 937
Special charges
Depreciation 56 153
Amortization 56 87
----------- -----------
Total operating expenses 6,540 4,672
----------- -----------
Operating income (loss) 401 320
Interest expense 243 54
Other income, net (14) (262)
----------- -----------
Income (loss) from continuing operations
before income taxes 172 528
----------- -----------
Income tax expense 0 0
----------- -----------
Net income (loss) from continuing
operations 172 528
----------- -----------
Loss from discontinued operations of
laboratory division 0 0
Loss on disposal of laboratory division 0 0
----------- -----------
Net Income (loss) $172 $528
----------- -----------
----------- -----------
Income (Loss) per share from
continuing operations $0.03 $0.07
Income (Loss) per share from
discontinued operations $0.00 $0.00
Income (Loss) per share
(basic and diluted) $0.03 $0.07
Average share outstanding and common
stock equivalents 6,856 7,748
EBITDA from continuing operations $ 513 $ 560
UNIVERSAL STANDARD HEALTHCARE, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Audited, in thousands, except share amounts)
March 31, December 31,
1999 1998
----------- -----------
ASSETS
Current assets:
Cash and cash equivalents $577 $556
Accounts receivable 807 824
Prepaid expenses and other 599 348
Assets of discontinued operations 71 425
----------- -----------
Total current assets 2,054 2,153
Property and equipment, net 2,639 2,660
Intangible assets, net 3,127 3,561
Other assets 960 1,151
----------- -----------
Total assets $8,780 $9,525
----------- -----------
----------- -----------
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt $675 $1,139
Accounts payable 1,221 631
Accrued liabilities 5,812 5,765
Laboratory-related and other
liabilities 19,509 20,562
----------- -----------
Total current liabilities 27,217 28,097
Long-term debt, net of current portion 668 678
----------- -----------
Total liabilities 27,885 28,775
----------- -----------
Redeemable common stock 4,399 4,399
Common stock, no par; 20,000,000
shares authorized; 7,610,774 and
7,110,774 shares issued and outstanding
at March 31, 1999 and Dec. 31, 1998,
respectively 34,247 34,247
Paid-in-capital 129 129
Retained earnings (deficit) (57,880) (58,025)
----------- -----------
Total stockholders' equity (23,504) (23,649)
----------- -----------
Total liabilities and
stockholders' equity $8,780 $9,525
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Contact:
Universal Standard HealthCare Inc., Southfield
Alan Ker, 248/358-0810
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