HearUSA reports first profitable year
Written on March 28, 2010
HearUSA said its revenue for the fourth quarter of 2009 rose 5 percent to $21.7 million from $20.7 million in the same year-ago quarter. Losses from continuing operations were $315,000, improved from a loss of $3.5 million a year earlier.
Net loss attributable to common stockholders was $172,000, or 0 cents a share, in the fourth quarter of 2009. That was improved from a net loss of $2.8 million, or 7 cents a share, in the same year-ago period.
For the full year, the West Palm Beach-based owner of hearing care centers (AMEX: EAR) reported net revenue fell 7 percent to $88.9 million, from $95.3 million in 2008.
Income from continuing operations totaled $96,000 in 2009, improved from a loss of $5.1 million in 2008.
Net income attributable to common stockholders was $1 faxless cash advance.4 million, or 3 cents a share, for the full year, improved from a net loss of $3.3 million, or 9 cents a share, in 2008.
"We are very pleased to report our first profitable year," said Stephen J. Hansbrough, HearUSA's chairman and CEO, in a news release. "As we move through 2010, we are confident the steps we took in 2009 to control costs and prepare for growth have positioned us well to execute our strategic plan.”
Shares closed down 8 cents to $1.66. The 52-week high was $1.77 on March 22. The 52-week low was 36 cents on April 2, 2009.
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