instaCare reports third quarter 2009 financial results

Nov 19 2009

instaCare Corp., (OTC Bulletin Board: ISCR), a leading distributor of life-saving prescription drugs and at-home testing diagnostics for the chronically ill, and a leading developer of patentable technologies for e-pharmacy, e-health and EMR applications, reported financial results for the third quarter period-ended September 30, 2009. Recent highlights include:

• Revenue grew by 58% through the first three quarters in 2009 vs. the same period in 2008 as sales and orders for at-home diagnostics and medical surgical products surged
• ISCR reports enhanced 2009 net income of $1,636,610 vs. 2008 loss of $16,775
• Company offers cell phone EMR technologies to capitalize on Obama Administration health initiatives
• Company announces intellectual property and patent strategies to secure its e-health and EMR technologies for Apple iPhone, Palm Pre and Verizon Windows phones

For the third quarter ended September 30, 2009 the company reported revenues of $4,491,831 vs. $3,439,271 for the same period in 2008. Through the first three quarters of 2009, instaCare reported revenues of $14,669,886 vs. $9,257,347 for the same period in 2008, a gain of 58%. The increase in revenues was due primarily to surging sales from the company's sale of at-home medical diagnostic and medical disposable products for patients with chronic diseases. The Company reported an operating profit of $161,967 during the third quarter of 2009 compared with an operating profit of $51,195 recorded during the third quarter 2008, a gain of 316%. Operating profit for the first nine months of 2009 was $1,636,610 vs. an operating loss of $16,775 for the same period in 2008. instaCare had cash, accounts, inventory and equivalents of $3,460,141 as of September 30, 2009 vs. $2,856,791 for the same period in 2008.

Keith Berman, chief financial officer of instaCare, commented, "This has been an exceptional quarter and a truly exciting nine months for instaCare, as our businesses and our profits grew, on surging sales. We were also able to clear away some of the overhang that has made our jobs difficult dating back to 2005. Finally, even with the challenges of a growing diagnostics business in a sour economy, we have managed to upgrade our e-health and EMR medical software and communications technologies and mating these technologies with the revolutionary smart cell phones manufactured by Apple, Palm, RIM and HTC. We are positioned right at the sweet spot of the Obama Administration health cost savings and efficiency initiatives. We plan to file our patent applications shortly."

SOURCE instaCare Corp.