Key Financial Highlights
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Historical first quarter records were achieved in total revenue, operating income, operating margin net income, EPS and cash flow from operations as follows:
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Business Overview
Total revenue for the first quarter of 2010 grew 106 percent to $1,885,802 compared to $915,543 in the first quarter of 2009. Operating income for the first quarter increased 483 percent to $199,132 compared to $34,105 in the first quarter of 2009. Earnings Per Share (EPS) for the first quarter increased 550 percent to $.013 compared to $.002 in the first quarter of 2009. Revenue Per Share (RPS) increased 81 percent to $.123 compared to $.068 in the first quarter of 2009. The company had 15,324,864 shares outstanding at the end of the first quarter.
"2010 is off to a strong start for Forterus," stated CEO Paul Howarth. "We achieved historical first quarter highs in revenue and earnings. Our ability to raise additional capital in the first quarter helped contribute to our increase in marketing and bed count, which enabled us to achieve stronger than expected Q1 results."
About Forterus Inc.
Forterus Inc. and its subsidiaries engage in diverse business activities, including alcohol rehabilitation, and finance. For more information Forterus and its A Better Tomorrow Treatment Center subsidiary, please visit their respective websites at http://www.forterushealthcare.com and http://www.abttc.com.
Forward Looking Statements
Application of the Safe Harbor of the Private Securities Litigation Reform Act of 1995: This press release contains, and Forterus may from time to time make, written or oral 'forward-looking statements' within the meaning of the U.S. federal securities laws, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and other factors, many of which are outside Forterus's and/or its subsidiaries control that could cause actual results to differ materially from such statements. In particular, statements using words such as 'may,' 'should,' 'estimate,' 'expect,' 'anticipate,' 'intend,' 'believe,' 'predict,' 'potential,' or words of similar import generally involve forward-looking statements.
-- Total revenue up 106 percent year over year -- Operating income up 483 percent year over year -- EPS up 550 percent to $0.013 -- RPS up 81 percent to $0.123
SOURCE Forterus Inc.
