Press Release                                                                                                            Source: National Health Partners, Inc.

 

National Health Partners
announces Record RESULTS FOR Q2 2007
 

Revenue soars over 270% from the second quarter of 2006 as net loss per share
decreases to only $(0.01); Company forecasts profitability in the second half of 2007

 

Wednesday August 15, 9:41 am ET

 

HORSHAM, Pa – (BUSINESS WIRE) – National Health Partners, Inc. (OTCBB: NHPR - News), a leading provider of unique discount healthcare membership programs, announced today that revenue for the second quarter increased over 270% to $1,179,197 from $317,024 for the second quarter of 2006.  The company achieved revenue of $2,223,705 for the first six months of 2007 compared to $641,428 for the first six months of 2006 and $1,870,612 for the entire 2006 year.  In addition, the company’s gross profit increased over 700% to $522,324 for the second quarter of 2007 compared to $64,252 for the second quarter of 2006.

The company also announced that its net loss per share decreased to $(0.01) from $(0.07) for the second quarter of 2006, and that its net loss per share for the first six months of 2007 decreased 75% to $(0.03) from (0.12) for the first six months of 2006.  The company stated that it expects to achieve record results for the third quarter of 2007 and reconfirmed that it expects to achieve profitability in the second half of 2007.

Another notable accomplishment of the company during the second quarter was the completion of its highly-anticipated CARExpress Plus programs.  The company achieved its first sale of these innovative programs in July and is currently rolling out several marketing and advertising campaigns designed to quickly increase sales of these programs.  The company expects sales of its CARExpress Plus programs to increase substantially during the remainder of 2007 and generate the majority of its revenue in 2008.

Q2 2007 Financial Highlights

  • Revenue for Q2 2007 increased over 270% to $1,179,197 from $317,024 for Q2 2006.
  • Net loss per share for Q2 2007 decreased to $(0.01) from $(0.07) for Q2 2006.
  • Gross profit increased over 700% to $522,324 for Q2 2007 compared to $64,252 for Q2 2006.
  • Revenue for the first six months of 2007 increased to $2,223,705 compared to $641,428 for the first six months of 2006 and $1,870,612 for the entire 2006 year.
  • Net loss per share for the first six months of 2007 decreased to $(0.03) compared to $(0.12) for the first six months of 2006 and $(0.39) for the entire 2006 year.
  • Gross profit for the first six months of 2007 increased to $998,749 compared to $401,859 for the first six months of 2006 and $432,807 for the entire 2006 year.
  • The company’s current ratio (current assets divided by current liabilities) improved to 10.9 at June 30, 2007 from 4.6 at March 31, 2007 and 6.4 at June 30, 2006.

“We are very excited about how quickly our revenue is growing,” stated David M. Daniels, President and Chief Executive Officer of National Health Partners.  “Our revenue increased over 270% to $1,179,197 for the second quarter of 2007 from $317,024 for the second quarter of 2006, and our revenue for the first half of 2007 is already much higher than our revenue for the entire 2006 year.  Equally impressive is that our revenue growth of 270% between the second quarter of 2006 and the second quarter of 2007 is much higher than the growth of 220% that we achieved between the first quarter of 2006 and the first quarter of 2007, which shows that our revenue growth is accelerating quickly.”

“In addition, our fundamentals continue to improve,” added Alex Soufflas, the company’s Chief Financial Officer and Executive Vice President.  “Our net loss per share fell for the second consecutive quarter to only $(0.01) from $(0.02) for the first quarter, and our aggregate net loss per share of $(0.03) for the first six months of 2007 represents a decrease of 75% from the net loss per share of $(0.12) that we incurred during the first six months of 2006.   Also encouraging is the substantial improvement that we have experienced in our gross profit and overall financial condition.  Our gross profit increased over 700% between the second quarter of 2006 and the second quarter of 2007, and our current ratio increased to 10.9.  The current ratio is important because it shows the ability of a company to meet its short-term financial obligations.  A current ratio of around 2 is normally considered to be healthy.”

“To put our 2007 performance in perspective, we achieved revenue of $2,223,705 for the first six months of 2007 and a net loss per share of only $(0.03),” explained Mr. Daniels.  “In contrast, we achieved revenue of only $1,870,612 for the entire 2006 year and incurred a net loss per share of $(0.39) during 2006.  We are moving quickly towards profitability and anticipate achieving profitability in the second half of 2007.”

“Our performance this past quarter is the result of the substantial increase in revenue we are experiencing as well as the cost cutting measures that we implemented during the past 12 months,” continued Mr. Daniels.  “While we are excited to see that our strategy is beginning to payoff as we move towards profitability, we feel that there is a lot more that we can do to enhance our overall growth and financial performance.  We are implementing several marketing and advertising campaigns for our CARExpress Plus programs and intend to continue rolling out new and exciting campaigns throughout the rest of the year.  We are also negotiating several agreements with business partners for the marketing and sale of our traditional CARExpress health discount programs and our CARExpress Plus programs.  The remainder of 2007 should be an extremely exciting time for the company and we are all looking forward to turning National Health Partners into a true powerhouse in the discount healthcare industry.”

National Health Partners, Inc.

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 Annual Report on Form 10-KSB 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.
Alex Soufflas, 215-682-7114
info@nationalhealthpartners.com

_______________________
Source: National Health Partners, Inc.

 

 
 
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