OREM, UT -- (Marketwired) -- 08/26/16 -- ActiveCare, Inc. (OTCQB: ACAR), a provider of diabetes management products and wellness services for self-insured employers nationwide, has reported financial results for the third fiscal quarter ended June 30, 2016.
"We continue to make strong financial progress as we streamline the Company and better penetrate the market," stated Jeffrey Peterson, CEO and Chairman of ActiveCare.
Third Quarter Results
- The Company reported total revenues of $2,176,000 for the quarter ended June 30, 2016 compared to $2,037,000 for the third quarter of the prior year, a 7% increase.
- Gross profit was $794,000 for the quarter ended June 30, 2016 compared to gross profit of $259,000 for the third quarter of the prior year, a 206% increase.
- Loss from operations was $1,433,000 compared to $2,744,000 for the third quarter of the prior year, a 48% reduction.
"With our continued growth in the market we have been able to acquire new talent and strengthen our product offering. With diabetes costs continuing to rise, the ActiveCare solution improves the health of members while reducing the medical costs for the members we engage. In fact, analyzing the medical claims of employers using ActiveCare, we are able to save on average $1,778 per member per year within two years of adopting our service. These outcomes, combined with constantly adjusting and bringing on new services and technologies are answering the needs of the market," concluded Peterson.
ActiveCare, Inc. provides patented diabetes monitoring and wellness solutions that increase visibility, lower costs and provide real-time care for members resulting in improved outcomes. Utilizing proprietary monitoring technology, trained CareSpecialists can intervene in real-time and provide members with the support needed to control their disease 24 hours a day, every day. Headquartered in Orem, Utah and publicly traded on the OTCQB under the symbol ACAR, ActiveCare's solution is changing the way employers, individuals and their health plans monitor chronic disease. To learn more about ActiveCare, Inc., visit the website at www.activecare.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Our actual results could differ materially from those projected in these forward-looking statements, which involve a number of risks and uncertainties, including global economic conditions generally, regulatory uncertainty and economic pressure on the healthcare industry in particular, the governmental regulation of our products, manufacturing and marketing risks, and adverse publicity risks. The contents of this release should be considered in conjunction with the risk factors, warnings, and cautionary statements that are contained in our most recent filings with the Securities and Exchange Commission.
Source: ActiveCare, Inc.
Released August 26, 2016