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Centric Health reports solid 2009 third quarter financial results

^{Published on 2009-11-05 14:07:17 - Market Wire}
 

 - On August 25, 2009, the Company changed its name from Alegro Health Corp. to Centric Health Corporation to better reflect its strategic focus of being Patient, Healthcare Professional and People Centric. - The Company migrated to the main board of the TSX. - Revenue increased by 242% or $8.8 million over the quarter ended September 2008, driven largely by the acquisition of the Active Health business and inclusion of its revenue. - EBITDA increased to $1.6 million compared with $0.3 million for the comparable quarter in 2008. - Fully diluted earnings per share increased 117% to $0.013 per share from $0.006 per share. - At September 30, 2009, the Company had cash on hand of $1.9 million and an unused line of credit of $4.0 million. - On October 8, 2009, the Company made a strategic investment in Wellness and Preventative Healthcare by concluding a letter of intent with PrevCan Inc. ("Intervent Canada"). 

 Selected Financial Results (in thousands) Three Months Ended Nine Months Ended September 30, September 30, 2009 2008 Change 2009 2008 Change ------------------------- ------------------------- Revenue $12,431 $3,635 242% $23,727 $11,200 112% Expenses Direct costs 9,314 2,492 274% 16,824 7,422 127% General and administrative expense 1,477 795 86% 3,816 2,589 47% Amortization 126 40 215% 233 131 78% ------------------------- ------------------------- 10,917 3,327 228% 20,873 10,142 106% ------------------------- ------------------------- Income before interest expense 1,514 308 392% 2,854 1,058 170% Interest expense 190 - 250 - ------------------------- ------------------------- Income before income taxes $1,324 $308 330% $2,604 $1,058 146% ------------------------- ------------------------- EBITDA(1) $1,640 $348 371% $3,087 $1,189 160%