EXHIBIT 99.1
AMERICAN CLAIMS EVALUATION, INC.
REPORTS THIRD QUARTER RESULTS
JERICHO, NY, February 11, 2009: American Claims Evaluation, Inc. (the “Company”) (NASDAQ:AMCE)
announced revenues of $1,439,638 and a net loss of $221,344 ($.05 net loss per share) for the three
months ended December 31, 2008. By comparison, the Company reported a net loss of $59,738 ($.02
net loss per share) for the three months ended December 31, 2007.
As previously announced, on September 12, 2008, the Company acquired all of the issued and
outstanding shares of Interactive Therapy Group Consultants, Inc. and also completed the
disposition of its wholly-owned subsidiary, RPM Rehabilitation & Associates, Inc. (“RPM”).
Accordingly, all results related to RPM have been reflected as discontinued operations.
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Three Months Ended |
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Nine Months Ended |
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12/31/08 |
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12/31/07 |
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12/31/08 |
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12/31/07 |
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(Unaudited) |
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(Unaudited) |
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Revenues |
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$ |
1,439,638 |
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$ |
— |
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$ |
1,687,328 |
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$ |
— |
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Operating loss from continuing
operations |
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(247,918 |
) |
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(166,597 |
) |
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(637,173 |
) |
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(794,881 |
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Loss before discontinued operations |
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(221,344 |
) |
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(79,345 |
) |
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(533,153 |
) |
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(527,229 |
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Net loss |
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$ |
(221,344 |
) |
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$ |
(59,738 |
) |
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$ |
(444,636 |
) |
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$ |
(514,186 |
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Net loss per share: |
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From continuing operations — basic
and diluted |
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$ |
(0.05 |
) |
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$ |
(0.02 |
) |
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$ |
(0.11 |
) |
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$ |
(0.11 |
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From
discontinued operations —
basic
and diluted |
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$ |
— |
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$ |
— |
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$ |
0.02 |
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$ |
— |
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Weighted average shares —
basic and diluted |
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4,761,800 |
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4,761,800 |
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4,761,800 |
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4,761,800 |
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During the nine months ended December 31, 2008 and 2007, the Company recognized stock compensation
expense totaling $21,100 and $285,000, respectively, based on the fair value of stock options
granted under the provisions of Statement of Financial Accounting Standards No. 123R.
American Claims Evaluation, Inc., through its wholly owned subsidiary, Interactive Therapy Group
Consultants, Inc., offers a comprehensive range of services to children with developmental delays
and disabilities.
For further information contact: Gary J. Knauer, Chief Financial Officer, American Claims
Evaluation, Inc., One Jericho Plaza, Jericho, NY 11753; telephone number (516) 938-8000.
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