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Press Release Source: National Health Partners, Inc.
National
Health Partners
announces financial RESULTS FOR Q1 2008 AND
GUIDANCE
FOR 2008 RESULTS
Company's revenue for Q1 2008 increases 73%
from Q4 2007
as company
reaffirms revenue forecast of $12 to $15 million for 2008
and
forecasts profitability and positive cash flows from operations during 2008
HORSHAM, Pa - (BUSINESS WIRE) - National Health
Partners, Inc. (OTCBB: NHPR -
News), a leading provider of
unique discount healthcare membership programs, announced its financial
results for its fiscal quarter ended March 31, 2008. Revenue for its fiscal quarter
ended March 31, 2008 increased 73% to $822,177 from $474,022 for its
fiscal quarter ended December 31, 2007 as gross profit increased $584,806
to $354,302 for its fiscal quarter ended March 31, 2008 from $(230,504)
its fiscal quarter ended December 31, 2007. In addition, the company achieved
a net loss per share of $(0.02) for its fiscal quarter ended March 31,
2008, representing a 50% decrease from a net loss of $(0.04) for its
fiscal quarter ended December 31, 2007 as the company continued its path
toward profitability.
The company reaffirmed that it expects to
generate between $12 and $15 million of revenue for 2008, the large
majority of which will be recognized during the second half of 2008 as
sales are generated through the new agreements that the company has
recently signed. The company
also reaffirmed its expectation that it will begin generating a net profit
from operations and positive cash flows from operating activities during
2008. The strong growth in revenue that
the company expects to achieve during the remainder of 2008 will be the
result of the recurring monthly revenue streams that it will receive from
people joining CARExpress through their respective affinity groups and
employers
Q1
2008 Financial Highlights and Guidance
The
company attributes its sequential growth in quarterly revenue and gross
profit, and its sequential decrease in net loss, to an increase in sales
of its CARExpress health discount programs and CARExpress Plus membership
programs. In the past six
months, the company has entered into agreements with several affinity
groups, such as unions, associations, chambers of commerce, small business
associations and other organizations that have a large number of members
or employees, as well as insurance
brokers and agents. Many of
these affinity groups are already producing revenue for the company and
are
expected to begin yielding a significant amount of revenue during the
remainder of 2008.
The
Company is currently in negotiations with several large affinity groups,
some of which may purchase one or more of the company's CARExpress Plus
programs for each of its respective members or employees. Many of these affinity groups have
the potential to increase the company's revenue by several multiples over
a relatively short period of time.
In addition, the company is receiving tremendous interest from its
business partners in its recently-announced CARExpress discount pharmacy
program which is expected to be rolled out in the next 1-2 weeks and
generate immediate sales for the company.
"We are very pleased with our
financial results for Q1 2008," stated Alex Soufflas, Chief Financial
Officer and Executive Vice President of National Health Partners. "Our revenue increased
73% between Q4 2007 and Q1 2008
and our
gross profit from operations increased from a loss for Q4 2007 to a profit
in Q1 2008. Equally important
is that our bottom line improved substantially between Q4 2007 and Q1 2008
as our net loss per share deceased 50% from $(0.04) for Q4 2007 to $(0.02)
for Q1 2008."
"I am equally pleased with our Q1
2008 financial results," stated
David M. Daniels, President and Chief Executive Officer of National Health
Partners. "We are
experiencing substantial growth in the number of affinity groups and other
business partners through which we are selling both our CARExpress health
discount programs and our CARExpress Plus membership programs. We have all worked very hard at
completing the planned transition of our primary source of sales from
marketing companies to affinity groups and are now beginning to reap the
rewards of our hard work. It
is very gratifying to know that so many large membership organizations
located across the country are expressing such a tremendous interest in
our programs. We are very
excited about what the remainder of 2008 has in store for National Health
Partners."
National Health Partners, Inc.
is a national healthcare savings organization that provides discount
healthcare membership programs to uninsured and underinsured people
through a national healthcare savings network called "CARExpress." CARExpress is one of the largest
networks of hospitals, doctors, dentists, pharmacists and other healthcare
providers in the country and is comprised of over 1,000,000 medical
professionals that belong to such PPOs as CareMark and Aetna. The company's primary target
customer group is the 47 million Americans who have no health insurance of
any kind. The company's
secondary target customer group includes the 61 million Americans who lack
complete health insurance coverage.
The company is headquartered in Horsham, Pennsylvania. For more information on the
company, please visit its website at www.nationalhealthpartners.com.
Safe
Harbor Provision
This
press release contains "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. All statements other than
statements of historical fact contained herein, including, without
limitation, statements regarding the company's future financial position,
business strategy, budgets, projected revenues and costs, and plans and
objectives of management for future operations, are forward-looking
statements. Forward-looking
statements generally can be identified by the use of forward-looking
terminology such as "may," "will," "expects," "intends," "plans,"
"projects," "estimates," "anticipates," or "believes" or the negative
thereof or any variation thereon or similar terminology or
expressions. Forward-looking
statements are subject to risks and uncertainties that could cause actual
results to differ materially from results proposed in such
statements. Although the
company believes that the expectations reflected in such forward-looking
statements are reasonable, it can provide no assurance that such
expectations will prove to have been correct. Important factors that could cause
actual results to differ materially from the company's expectations
include, but are not limited to, its ability to fund future growth and
implement its business strategy, its ability to develop and expand the
market for its CARExpress membership programs, demand for and acceptance
of its CARExpress membership programs, its dependence on a limited number
of preferred provider organizations and other provider networks for
healthcare providers, as well as those factors set forth in the company's
most recently filed post-effective amendment to its registration statement
on Form SB-2 and its other filings and submissions with the Securities and
Exchange Commission. Readers
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date made. Except as required by law, the
company assumes no obligation to update or revise any of the information
contained in this press release.
Contact: National Health Partners, Inc. _______________________
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Send mail to info@nationalhealthpartners.com with questions or comments. Copyright © 2006 NATIONAL HEALTH PARTNERS, INC. |
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