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Continucare Corporation Reports 116% Increase in Operating Profit for First Quarter of Fiscal 2010.

Publication: Business Wire
Publication Date: 05-NOV-09 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Continucare Corporation Reports 116% Increase in Operating Profit for First Quarter of Fiscal 2010.(Financial report)

Article Excerpt
MIAMI -- Continucare Corporation (NYSE Amex: CNU) today reported financial results for its first quarter of fiscal 2010. Financial highlights for the quarter and other recent events include:

* Total revenue of $76.0 million, a 17% increase compared to $65.1 million for the same period last year;

* Income from operations of $8.6 million, a 116% increase compared to $4.0 million for the same period last year;

* Net income of $5.3 million, or $0.09 per diluted share, as compared to $2.5 million, or $0.04 per diluted share, for the same period last year; and

* Expansion of service offerings through the launch of Seredor Corporation, a new sleep diagnostic center subsidiary.

Continucare's cash and cash equivalents increased to $22.8 million at September 30, 2009 from $13.9 million at June 30, 2009, while working capital increased to $29.8 million at September 30, 2009 from $25.5 million at...

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