EXHIBIT 99.1
AMERICAN CLAIMS EVALUATION, INC.
REPORTS SECOND QUARTER RESULTS
JERICHO, NY, November 11, 2009: American Claims Evaluation, Inc. (the “Company”) (NASDAQ:AMCE)
announced revenues of $1,317,905 and a net loss of $353,508 ($.07 net loss per share) for the three
months ended September 30, 2009. By comparison, the Company reported a net loss of $52,152 ($.01
net loss per share) for the three months ended September 30, 2008 consisting of a loss of $182,144
from continuing operations ($.03 net loss per share) and a gain from discontinued operations of
$94,345 ($.02 net earnings per share).
During the fiscal year ended March 31, 2009, the Company acquired all of the issued and outstanding
shares of Interactive Therapy Group Consultants, Inc. (“ITG”) 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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Six Months Ended |
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09/30/09 |
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09/30/08 |
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09/30/09 |
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09/30/08 |
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(Unaudited) |
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(Unaudited) |
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Revenues |
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$ |
1,317,905 |
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|
$ |
247,690 |
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|
$ |
3,224,996 |
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$ |
247,690 |
|
Operating loss from continuing operations |
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|
(354,977 |
) |
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(182,144 |
) |
|
|
(399,114 |
) |
|
|
(389,255 |
) |
Loss before discontinued operations |
|
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(353,508 |
) |
|
|
(146,497 |
) |
|
|
(393,278 |
) |
|
|
(311,809 |
) |
Net loss |
|
$ |
(353,508 |
) |
|
$ |
(52,152 |
) |
|
$ |
(393,278 |
) |
|
$ |
(223,292 |
) |
Net earnings (loss) per share: |
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From continuing operations — basic
and diluted |
|
$ |
(0.07 |
) |
|
$ |
(0.03 |
) |
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$ |
(0.08 |
) |
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$ |
(0.07 |
) |
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From discontinued operations — basic
and diluted |
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$ |
0.00 |
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$ |
0.02 |
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$ |
0.00 |
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$ |
0.02 |
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Weighted average shares —
basic and diluted |
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|
4,754,900 |
|
|
|
4,761,800 |
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|
4,754,900 |
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4,761,800 |
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ITG’s business is moderately seasonal based on the school year. Accordingly, revenues recorded
during the three months ended September 30, 2009, which includes two full months during which
schools are not in session, reflect the Company’s lowest revenue producing quarter.
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.