United American Healthcare Corp. (UAHC, Financial) filed Quarterly Report for the period ended 2009-12-31.
United American Healthcare Corp. has a market cap of $10.67 million; its shares were traded at around $1.3108 with and P/S ratio of 0.64.
Net loss was $1.1 million, or ($0.14) per basic share, for the quarter ended December 31, 2009, compared to net loss of $1.4 million, or $(0.16) per basic share, for the quarter ended December 31, 2008.
Variable administrative fees resulting from MRA revenue were $0.3 million for the six months ended December 31, 2009, compared to $0.9 million for the six months ended December 31, 2008. The $0.3 million received in fiscal 2010 related to fiscal 2009. The $0.9 million MRA revenue received in fiscal 2009 relates to fiscal 2008.
Net loss was $2.7 million, or ($0.33) per basic share, for the six months ended December 31, 2009, compared to net loss of $1.2 million, or ($0.13) per basic share, for the six months ended December 31, 2008. The decrease is primarily due to the decrease in overall revenue resulting from the discontinuance of the TennCare contract and the expiration of the CMS contract.
At December 31, 2009, the Company had (i) cash and cash equivalents and short-term marketable securities of $11.8 million, compared to $17.6 million at June 30, 2009; (ii) working capital of $9.6 million, compared to working capital of $12.2 million at June 30, 2009; and (iii) a current assets-to-current liabilities ratio of 4.27-to-1, compared to 2.72-to-1 at June 30, 2009.
Net cash used in operating activities of $5.7 million in the six months ended December 31, 2009 was primarily due to the $3.3 million litigation settlement. (See Note 9 to our Unaudited Condensed Consolidated Financial Statements.) Medical claims payable decreased by $0.6 million at December 31, 2009 compared to June 30, 2009. The decrease in primarily due to a decrease in members as of December 31, 2009 compared to June 30, 2009. Accounts payable and accrued expenses decreased by $0.2 million at December 31, 2009 compared to June 30, 2009, principally due to the payment of legal fees related to litigation.
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United American Healthcare Corp. has a market cap of $10.67 million; its shares were traded at around $1.3108 with and P/S ratio of 0.64.
Highlight of Business Operations:
Variable administrative fees resulting from modified risk arrangement (MRA) revenue were $0.3 million for the three months ended December 31, 2009, compared to $0.9 million for the three months ended December 31, 2008. The $0.3 million received in fiscal 2010 related to fiscal 2009. The $0.9 million MRA revenue received in fiscal 2009 relates to fiscal 2008.Net loss was $1.1 million, or ($0.14) per basic share, for the quarter ended December 31, 2009, compared to net loss of $1.4 million, or $(0.16) per basic share, for the quarter ended December 31, 2008.
Variable administrative fees resulting from MRA revenue were $0.3 million for the six months ended December 31, 2009, compared to $0.9 million for the six months ended December 31, 2008. The $0.3 million received in fiscal 2010 related to fiscal 2009. The $0.9 million MRA revenue received in fiscal 2009 relates to fiscal 2008.
Net loss was $2.7 million, or ($0.33) per basic share, for the six months ended December 31, 2009, compared to net loss of $1.2 million, or ($0.13) per basic share, for the six months ended December 31, 2008. The decrease is primarily due to the decrease in overall revenue resulting from the discontinuance of the TennCare contract and the expiration of the CMS contract.
At December 31, 2009, the Company had (i) cash and cash equivalents and short-term marketable securities of $11.8 million, compared to $17.6 million at June 30, 2009; (ii) working capital of $9.6 million, compared to working capital of $12.2 million at June 30, 2009; and (iii) a current assets-to-current liabilities ratio of 4.27-to-1, compared to 2.72-to-1 at June 30, 2009.
Net cash used in operating activities of $5.7 million in the six months ended December 31, 2009 was primarily due to the $3.3 million litigation settlement. (See Note 9 to our Unaudited Condensed Consolidated Financial Statements.) Medical claims payable decreased by $0.6 million at December 31, 2009 compared to June 30, 2009. The decrease in primarily due to a decrease in members as of December 31, 2009 compared to June 30, 2009. Accounts payable and accrued expenses decreased by $0.2 million at December 31, 2009 compared to June 30, 2009, principally due to the payment of legal fees related to litigation.
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