Knobias Clip Report (10-27-2008) INMD
Submitted By Knobias ClipReport
INMD: CEO Comments on Record Q3 Financial Results
Monday , October 27, 2008 11:55ET
By Fain Hughes, fhughes@knobias.com
IntegraMed America, Inc. (INMD) reported its financial results for the third quarter and nine months ended September 30, 2008. The Company reported revenues of $52.3 million, an increase over $40.3 million in the same period last year. Net income ws $0.13 per share versus $0.11 for the same period last year.
Jay Higham, CEO of IntegraMed, commented in a conference call today, “Our Q3 results demonstrate ongoing growth and increased contribution across all three of our business units. We achieved record quarterly results on both top line and bottom line, despite an increasingly uncertain economy. While no business can be completely immune from the impact of economic forces, we believe that our results point to the strength and value of our service modell, as well as the resiliency of the segments of healthcare that we occupy.”
He continued, “Having a strong balance sheet and an excellent track record affords us an opportunity to be opportunistic in building our fertility network. We have the capital and human resources to support that growth. We have already achieved our FY08 goal of adding four affiliates to out fertility provider network. In order to continue to grow this network, we are engaging in active dialogue with several potential affiliate centers. We are confident in the potential to add four new affiliates by the end of next year. We also plan to expand our Vein Clinics business and are adding two more clinics in Q4. We also plan to open five more clinics in 2009, which will bring our total number of vein clinics to 38.”
Mr. Higham concluded, “Our Q3 performance confirms the inherent strength of demand for our services, the value of our diversified business model and our relentless attention to operational and customer excellence. These foundational pillars, along with disciplined decision making, should serve us well as we seek to drive growth across our businesses.”
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