American Claims Evaluation, Inc. Reports Fourth Quarter and Year End Results and Announces Appointment of New Director
14 Junho 2005 - 3:59PM
Business Wire
American Claims Evaluation, Inc. (NASDAQ:AMCE) announced revenues
of $1,139,947 and a net loss of $481,232 ($.10 net loss per share)
for the year ended March 31, 2005 as compared to revenues of
$1,190,921 and a net loss of $474,586 ($.11 net loss per share) for
the year ended March 31, 2004. Revenues decreased as a result of a
reduction in cases referred to the Company for vocational
rehabilitation services. -0- *T Three Months Ended Year Ended
--------------------- ----------------------- 03/31/05 03/31/04
03/31/05 03/31/04 ---------- ---------- ----------- -----------
(Unaudited) Revenues $281,296 $290,849 $1,139,947 $1,190,921
Operating loss (149,965) (170,388) (605,214) (561,759) Loss before
income tax expense (102,342) (149,705) (477,232) (468,586) Net loss
$(103,342) $(150,705) $(481,232) $(474,586) Net loss per share -
basic $(0.02) $(0.04) $(0.10) $(0.11) ========== ==========
=========== =========== Net loss per share - diluted $(0.02)
$(0.04) $(0.10) $(0.11) ========== ========== ===========
=========== Weighted average shares - basic 4,859,800 4,259,800
4,789,800 4,259,800 Weighted average shares - diluted 4,859,800
4,259,800 4,789,800 4,259,800 *T American Claims Evaluation, Inc.
also announced the addition of Joseph Looney to its Board of
Directors. Mr. Looney was also appointed a member of the Company's
Audit Committee and will serve as the Company's "audit committee
financial expert," as defined in regulations adopted pursuant to
the Sarbanes-Oxley Act of 2002. Mr. Looney has been the Chief
Financial Officer and Secretary of Astrex, Inc., a distributor of
electronic components since 2002. From 1996-2002, he was the Chief
Financial Officer, V.P. of Finance and Assistant Secretary of
Manchester Technologies, Inc., a network integrator and reseller of
computer products. From 1984-1996, he was employed by the
accounting firm of KPMG LLP. He is a Certified Public Accountant
and has a B.A. from Queens College, City University of New York and
an M.S. from Long Island University. Since 1996, Mr. Looney has
also been an Adjunct Professor of Accounting and Business Law at
Hofstra University. American Claims Evaluation, Inc., through its
wholly owned subsidiary, RPM Rehabilitation & Associates, Inc.,
offers a full range of vocational rehabilitation and disability
management services. 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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