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Arcadia home, medical staffing revenue up

February 09 2009

Arcadia Resources Inc. (AMEX: KAD) reported that revenue in its home care/medical staffing segment rose 6.4% to $24.5 million in its fiscal third quarter ended Dec. 31. However, its non-medical staffing revenue fell 48.2% to $3.7 million.

Full third-quarter revenue fell 5.3% to $35.2 million at the Indianapolis-based staffing, healthcare, pharmacy and home health equipment company

"Unfortunately, our non-medical staffing has taken the brunt of a weakened economy and we continue to see soft demand in the medical staffing markets, resulting in reduced overall revenue and EBITDA for the company as a whole," said President and CEO Marvin Richardson.

Third-quarter gross margin rose to 34.1% from 32.5% a year ago.

Arcadia's third-quarter net loss was $3.2 million, compared to its net loss of $3.7 million a year ago.

Arcadia Resources Inc. (AMEX: KAD)
For the fiscal third quarter ended Dec. 31, 2008, compared with the same period in the previous year.
Revenue: $35.2 million, -5.3%
Net loss: $3.2 million vs. net loss of $3.7 million


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