[CvGmt News] HealthCare Sector - TRHL - Record Revenue...catalina
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Wed Jan 21 07:56:17 CET 2004
Press Release - TRHL
TRHL Announces RECORD REVENUE GROWTH In Q3 Fiscal 2003
Q3 2003 marks 7th consecutive quarter of revenue growth.
Revenues up 385% and 329% for the three and nine month periods, respectively.
BECKENHAM, England---PRNewswire-FirstCall---True Health, Inc., (OTC Bulletin Board: TRHL) a leader in healthcare recruitment
and pressure relieving systems, announces record revenues for the three and nine month periods ended October 31, 2003.
The Company reported revenues of 1,302,936 dollars US for its third quarter ended October 31, 2003, a 385% increase over
revenues of 268,636 in the third quarter of fiscal 2002. Revenue growth was driven by an increasing number of customers and
contracts for the Company's equipment sales and rental business, as well as robust growth in the Company's new healthcare
recruitment service. Gross profits were up 143% to 513,027 in the third quarter of fiscal 2003, from 210,949 in the same
period of the prior fiscal year. Net loss narrowed 80% from (207,451) in the third quarter of fiscal 2002 to (40,929), or
(0.00) per basic and diluted share in the period ended October 31, 2003.
True Health reported similar results for the nine months ended October 31, 2003. Revenues were up 329% to 2,732,744 as
compared to 636,673 in the first three quarters of fiscal 2002. Growth in revenues was attributed to the success of the
Company's newly introduced healthcare recruitment services, as well continued growth and new contracts for True Health's
equipment sales and rentals. The Company reported gross profits of 1,162,303 in the nine months ended October 31, 2003, up
106% from 553,700 in the same period of the prior year. Net loss increased from (68,311) in the nine month period ended
October 31, 2002, to (759,402), or (0.01) per basic and diluted share, in the first three quarters of fiscal 2003. The
Company's net loss widened for the nine-month period as a result of one-time expenses.
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