Press Room
2008
11/14/2008
American CareSource Holdings to Present at the Stephens Fall Investment Conference

 


Dallas, TX, November 14, 2008 – American CareSource Holdings, Inc. (Nasdaq: ANCI) announced today that its Chief Executive Officer, David S. Boone, will present at the Stephens Fall Investment Conference at 8:00 am ET on November 18, 2008 at The New York Palace Hotel in New York City.

 

The live webcast may be accessed through the Company’s website at www.anci-care.com under “News & Events.” The webcast will be archived for 90 days.


11/13/2008
AMERICAN CARESOURCE HOLDINGS REPORTS RECORD FINANCIAL RESULTS FOR 2008 THIRD QUARTER


Company reports fifth consecutive quarterly profit of $1.0 million, or $0.06 per diluted share

DALLAS, TX – November 13, 2008 -- American CareSource Holdings, Inc. (Nasdaq: ANCI) today announced record financial and operational results for the three and nine months ended September 30, 2008.  Recent highlights include:
• Reported quarterly net income of $1.0 million, or $0.06 per diluted share, resulting in five consecutive quarters of profit growth.
• Achieved $16.1 million in revenue for the third quarter, a 127% increase in revenues compared to the same prior year period, representing six quarters of sequential revenue growth.


11/13/2008
AMERICAN CARESOURCE HOLDINGS APPOINTS JAMES T. ROBINSON TO SENIOR VICE PRESIDENT OF SALES AND MARKETING

DALLAS, TX – November 13, 2008 -- American CareSource Holdings, Inc. (Nasdaq: ANCI) today announced that James T. Robinson has joined the Company as Senior Vice President of Sales and Marketing, effective immediately. Mr. Robinson, 48, will report directly to David S. Boone, President and Chief Executive Officer, and will be responsible for directing all sales and marketing activities for the Company’s growing national network of ancillary care providers.

11/6/2008
AMERICAN CARESOURCE HOLDINGS SIGNS NEW CLIENT AGREEMENT WITH EVOLUTIONS HEALTHCARE SYSTEMS

DALLAS, TX – November 6, 2008 -- American CareSource Holdings, Inc. (Nasdaq: ANCI) announced today that it has implemented a new client service agreement with Evolutions Healthcare Systems, Inc., one of the largest independently owned Preferred Provider Organizations (PPOs) offering healthcare provider access at carrier level discounts in Florida. Under the agreement, American CareSource will make available its full complement of ancillary care services to Evolutions’ clients through a network of ancillary care providers. American CareSource expects to realize an estimated $4 - $6 million in additional annual revenue once the agreement is fully implemented.

11/3/2008
American CareSource to Discuss Third Quarter 2008 Financial Results


Dallas, TX, November 4, 2008 – American CareSource Holdings, Inc. (Nasdaq: ANCI) announced today that it will hold a conference call on November 13, 2008 to discuss financial results for the third quarter and nine months ended September 30, 2008. David S. Boone, Chief Executive Officer, and Steven J. Armond, Chief Financial Officer, of American CareSource will host the call. 

Access information
Date:   Thursday, November 13, 2008
Time:   10:00 a.m. (CT)/11:00 a.m. (ET)
Dial-in numbers: 877-856-1956 (U.S. & Canada) or 719-325-4818
Live webcast:  www.anci-care.com, under “News & Events”


10/30/2008
American CareSource Holdings to Present at the Oppenheimer & Co. 19th Annual Healthcare Conference

 



Dallas, TX, October 30, 2008 – American CareSource Holdings, Inc. (Nasdaq: ANCI) announced today that its Chief Executive Officer, David S. Boone, will present at the Oppenheimer & Co. 19th Annual Healthcare Conference at 11:20 am ET on November 4, 2008 at The Waldorf-Astoria Hotel in New York City.

 

The live webcast may be accessed through the Company’s website at www.anci-care.com under “News & Events.” The webcast will be archived for 90 days.


10/22/2008
AMERICAN CARESOURCE HOLDINGS REPORTS 127% INCREASE IN REVENUES FOR THIRD QUARTER 2008


– Company Reports Six Consecutive Quarters of Revenue Growth –

DALLAS, TX – October 22, 2008 -- American CareSource Holdings, Inc. (Nasdaq: ANCI) today reported a 127% increase in revenues to approximately $16.1 million for the third quarter ended September 30, 2008 compared to approximately $7.1 million in the same period last year.  The Company’s third quarter revenues also represent a 24% improvement over second quarter 2008 reported revenues of $13.0 million.  For the nine months ended September 30, 2008, the Company reported a 204% improvement in revenues to approximately $40.6 million compared to the same period in 2007.


10/1/2008
AMERICAN CARESOURCE HOLDINGS TO RING NASDAQ CLOSING BELL


DALLAS, TX – October 1, 2008 -- American CareSource Holdings, Inc. (Nasdaq: ANCI) today announced that the Company’s Chief Executive Officer, David S. Boone, and Chief Financial Officer, Steven J. Armond, will preside over the Closing Bell ceremony on Thursday, October 9, 2008 at The NASDAQ MarketSite in New York City to commemorate American CareSource’s listing on The NASDAQ Stock Market® on September 29, 2008.


9/30/2008
American CareSource Holdings to Present at the William Blair & Company Second Annual Small-Cap Growth Stock Conference

 


 

Dallas, TX, September 30, 2008 – American CareSource Holdings, Inc. (Nasdaq: ANCI) announced today that its Chief Executive Officer, David S. Boone, will present at the William Blair & Company Second Annual Small-Cap Growth Stock Conference at 2:00 p.m. ET on October 7, 2008 at The Waldorf-Astoria Hotel in New York City.

The live webcast may be accessed through the Company’s website at www.anci-care.com under “News & Events.” The webcast will be archived for 90 days.


About Ancillary Healthcare Services

American CareSource provides ancillary healthcare services through its network that offers cost effective alternatives to physician and hospital-based services. This market is estimated at $574 billion, and has grown to 30% of total national health expenditures. These providers offer services in over 30 categories, including laboratories, dialysis centers, free-standing diagnostic imaging centers, non-hospital surgery centers, as well as durable medical equipment such as orthotics and prosthetics, and others.


About American CareSource Holdings, Inc. 

American CareSource Holdings, the first national, publicly traded ancillary care network services company, offers a comprehensive national network of approximately 2,500 ancillary service providers at over 25,000 sites. The Company's ancillary network and management provides a complete outsourced solution for a wide variety of healthcare payors and plan sponsors including self-insured employers, indemnity insurers, PPOs, HMOs, third party administrators and both federal and local governments. For additional information, please visit www.anci-care.com.


9/29/2008
American CareSource Holdings to Present at the Third Annual JMP Securities Healthcare Focus Conference


Dallas, TX, September 29, 2008 – American CareSource Holdings, Inc. (Nasdaq: ANCI) announced today that its Chief Executive Officer, David S. Boone, will present at the Third Annual JMP Securities Healthcare Focus Conference at 2:00 p.m. ET on October 6, 2008 at the Le Parker Meridien in New York City.

The live webcast may be accessed through the Company’s website at www.anci-care.com under “News & Events.” The webcast will be archived for 90 days.

About Ancillary Healthcare Services

American CareSource provides ancillary healthcare services through its network that offers cost effective alternatives to physician and hospital-based services. This market is estimated at $574 billion, and has grown to 30% of total national health expenditures. These providers offer services in over 30 categories, including laboratories, dialysis centers, free-standing diagnostic imaging centers, non-hospital surgery centers, as well as durable medical equipment such as orthotics and prosthetics, and others.

About American CareSource Holdings, Inc. 

American CareSource Holdings, the first national, publicly traded ancillary care network services company, offers a comprehensive national network of approximately 2,500 ancillary service providers at over 25,000 sites. The Company's ancillary network and management provides a complete outsourced solution for a wide variety of healthcare payors and plan sponsors including self-insured employers, indemnity insurers, PPOs, HMOs, third party administrators and both federal and local governments. For additional information, please visit www.anci-care.com.

 


9/29/2008
AMERICAN CARESOURCE HOLDINGS SIGNS NEW CLIENT AGREEMENT WITH JMS AND ASSOCIATES, INC.

American CareSource to Provide Ancillary Care Services to Key JMS Client, Insurance Design Administrators

DALLAS, TX – September 29, 2008  -- American CareSource Holdings, Inc. (Nasdaq: ANCI) announced today that it has signed a new client service contract with JMS and Associates, Inc., to provide a full range of ancillary care services, initially to one of JMS’ key clients, Insurance Design Administrators (IDA).  JMS provides Business Process Outsourcing (BPO) solutions including Paper Claim Conversion Services to TPAs, HMOs, PPOs, Health Plans, MHOs and Cost Containment organizations supporting the Health Claim Payor industry.  IDA is a recognized, national leader in the design and administration of self-funded health benefits plans for employers and government agencies across the United States and is a subsidiary of UHY, one of the world’s leading business advisory, consulting and accounting networks.


9/18/2008
AMERICAN CARESOURCE HOLDINGS ANNOUNCES MOVE TO NASDAQ
DALLAS, TX – September 18, 2008 -- American CareSource Holdings, Inc. (AMEX: XSI) today announced that its Board of Directors has approved the decision to switch the listing of its common stock from the American Stock Exchange to The NASDAQ Stock Market®. Effective Monday, September 29, 2008, the Company will trade under the symbol Nasdaq: ANCI. The Company will continue to trade on the American Stock Exchange under the old symbol, XSI, through Friday, September 26, 2008. In addition, the Company will ring The NASDAQ Stock Market Closing Bell on October 9, 2008.

9/8/2008
AMERICAN CARESOURCE HOLDINGS APPOINTS SAMI S. ABBASI TO THE BOARD OF DIRECTORS


DALLAS, TX – September 8, 2008 -- American CareSource Holdings, Inc. (AMEX: XSI) today announced the appointment of Sami S. Abbasi to the Company’s Board of Directors, increasing the Board to seven members.  


8/14/2008
AMERICAN CARESOURCE HOLDINGS REPORTS RECORD FINANCIAL RESULTS FOR 2008 SECOND QUARTER


- Company reports fourth consecutive quarterly profit of $621 thousand, or $0.04 per diluted share -

DALLAS, TX – August 14, 2008 -- American CareSource Holdings, Inc. (AMEX: XSI) today announced record financial and operational results for the second quarter and six months ended June 30, 2008.  Highlights include:

• Reported quarterly net income of $621 thousand, or $0.04 per diluted share, resulting in four consecutive quarters of profit growth.

• Achieved $13.0 million in revenue for the second quarter, a record 225% increase in revenues compared to the same prior year period, representing five quarters of sequential revenue growth.

• Attained gross margins of approximately 15% compared to 13% in the three months ended June 30, 2007, reflecting continued leverage of the Company’s fixed cost infrastructure.

• Generated EBITDA, as adjusted, of approximately $879 thousand for the quarter.
− EBITDA, as adjusted, (a non-GAAP measure) is defined as income (loss) from operations less depreciation and amortization, non-cash warrant and option compensation expense and executive severance. EBITDA, as adjusted, should be considered in addition to, but not in lieu of, income (loss) from operations reported under generally accepted accounting principles (GAAP).

• The Company finished the quarter with approximately $6.1 million in cash and cash equivalents on hand and generated approximately $500 thousand in cash from operating activities in the second quarter and approximately $2.1 million during the first half of 2008.

• Claims volume increased to approximately 40 thousand for the second quarter of 2008, up 172% over the second quarter of 2007.

• Signed new client agreements with Viant Holdings, Inc., one of the nation’s largest PPO networks, and Emerald Health Network, Ohio’s premiere PPO network provider.

• Signed two new client agreements with Indiana-based union organizations allowing the Company to penetrate an important union market in the Midwest.

• Selected to join the Russell Microcap® Index.

Commenting on today’s announcement, David S. Boone, Chief Executive Officer of American CareSource, stated, “Our second quarter results demonstrate a continuation of the strong momentum we are building in the market place.  With these results, we have generated four consecutive quarters of greater than 100% year-over-year revenue growth and delivered four consecutive quarters of increasing profitability.  We finished the quarter with over $6 million in cash and we continue to generate strong cash flow.  Our investments in technology and people are beginning to pay dividends.  Most importantly, our recent client wins are yet another confirmation of the value we are adding to our clients and providers as we work to lower the cost of ancillary healthcare.

“We are achieving the goals we have set for the organization including delivering improved gross margins.  The Company is demonstrating its ability to scale effectively by absorbing the increasing claim volume without a corresponding increase in cost.  Demand for our comprehensive and expanding national network of ancillary healthcare services has continued, unabated and our reputation for being able to offer clients an ever-increasing range of services with positive economics should fuel this upward momentum going forward. As a result, we are raising our initial 2008 guidance of $50 million in annual revenues to a range of $50 - $55 million for the year.
 
“Reflecting our growth, during the second quarter, we were pleased to announce new client agreements with Viant Holdings, one of the largest PPO networks in the United States, as well as Emerald Health Networks, Ohio’s premier PPO network provider. Additionally, we gained a foothold into the all-important Midwest union market with the signing of two new client agreements with Iron Workers Local 295 Trust Fund and Operative Plasterers and Cement Masons Local 692. We are honored to be working with these two, key union organizations and, in addition to our more traditional clientele, hope to sign similar agreements with other unions as time goes on.”


Revenues for the second quarter of 2008 rose 225% to $13.0 million compared to $4.0 million in the second quarter of 2007. The Company’s second quarter revenues also represent a 13% improvement over the first quarter of 2008 reported revenues of $11.5 million. For the six months ended June 30, 2008, the Company reported revenues of $24.5 million, a 291% increase compared to revenues of $6.3 million in the same period of 2007.

The Company reported net income of $621 thousand, or $0.04 per share, for the three months ended June 30, 2008, compared to a net loss of $716 thousand, or ($0.05) per share, in the same period last year. For the six months ended June 30, 2008, the Company reported net income of $1.1 million, or $0.07 per diluted share, compared to a net loss of $1.3 million, or ($0.09) per share, for the same period in 2007.


Cash provided by operations was $2.1 million for the six months ended June 30, 2008 versus cash used in operations of ($1.1) million during the same period in 2008. Factors affecting the improvement in operating cash flows include earnings growth, accelerated client collections and overall effectiveness in working capital management.  At June 30, 2008, the Company had approximately $6.1 million in cash and cash equivalents compared to $4.3 million at December 31, 2007.


Conference Call
As previously announced, American CareSource will hold a conference call to discuss financial results of the second quarter ended June 30, 2008 as follows:

Date: Thursday, August 14, 2008
Time: 10:00 a.m. (CT)/11:00 a.m. (ET)
Dial-in numbers: 877-397-0286 (U.S. & Canada) or 719-325-4874
Live webcast: www.anci-care.com, under “New & Events”

The teleconference replay will be available two hours after completion through Thursday, August 21, 2008 at 888-203-1112 (U.S. & Canada) or 719-457-0820. The replay pass code is 3692642. The archived webcast will be available for one year on the Company’s investor website, www.anci-care.com, under “News and Events.”

About Ancillary Healthcare Services
American CareSource provides ancillary healthcare services through its network that offers cost effective alternatives to physician and hospital-based services. This market is estimated at $574 billion, and has grown to 30% of total national health expenditures. These providers offer services in over 30 categories, including laboratories, dialysis centers, free-standing diagnostic imaging centers, non-hospital surgery centers, as well as durable medical equipment such as orthotics and prosthetics, and others.

About American CareSource Holdings, Inc. 

American CareSource Holdings, the first national, publicly traded ancillary care network services company, offers a comprehensive national network of approximately 2,500 ancillary service providers at over 25,000 sites. The Company's ancillary network and management provides a complete outsourced solution for a wide variety of healthcare payors and plan sponsors including self-insured employers, indemnity insurers, PPOs, HMOs, third party administrators and both federal and local governments. For additional information, please visit www.anci-care.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995:
Any statements that are not historical facts contained in this release, including with respect to future engagements by clients, revenue growth, earnings, and guidance are forward-looking statements. It is possible that the assumptions made by American CareSource Holdings, Inc. for purposes of such statements may prove to be inaccurate or may not materialize. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements may involve further risks and uncertainties, including but not limited to those relating to demand for our services, pricing, market acceptance, our ability to integrate with our clients, our ability to attract and maintain providers, our ability to manage growth, the effect of economic conditions, and the affect of competitive services, risks in product development, the ability to complete transactions, and other risks identified in this release, and the Securities and Exchange Commission filings of American CareSource Holdings, Inc.


(See More for Revenue Tables)


8/8/2008
American CareSource to Present at the Fourth Annual Noble Financial Equity Conference

 


Dallas, TX, August 8, 2008 – American CareSource Holdings, Inc. (AMEX: XSI) announced today that its Chief Executive Officer, David S. Boone, will present at the Fourth Annual Noble Financial Equity Conference at 3:00 p.m. PDT on August 18, 2008 at the Loews Lake Las Vegas Resort, Nevada.

 

Mr. Boone will give a 23-minute presentation regarding American CareSource’s market positioning, financial performance, and strategic direction. A live webcast may be accessed through the Company’s website at www.anci-care.com under “News & Events.” The webcast will be archived for 30 days.


About American CareSource Holdings, Inc. 

American CareSource Holdings, the first national, publicly traded ancillary care network services company offers a comprehensive national network of approximately 2,500 ancillary service providers at over 25,000 sites. The Company's ancillary network and management provides a complete outsourced solution for a wide variety of healthcare payors and plan sponsors including self-insured employers, indemnity insurers, PPOs, HMOs, third party administrators and both federal and local governments. For additional information, please visit www.anci-care.com.


7/31/2008
American CareSource to Discuss Second Quarter 2008 Financial Results

Dallas, TX, July 31, 2008 – American CareSource Holdings, Inc. (AMEX: XSI) announced today that it will hold a conference call on August 14, 2008 to discuss financial results for the second quarter and six months ended June 30, 2008. David S. Boone, Chief Executive Officer, and Steven J. Armond, Chief Financial Officer, of American CareSource will host the call.

To listen to the call, please click here.

7/28/2008
American CareSource to Present at the BMO Capital Markets 2008 Focus on Healthcare Conference

 


Dallas, TX, July 28, 2008 – American CareSource Holdings, Inc. (AMEX: XSI) announced today that its Chief Executive Officer, David S. Boone, will present at the BMO Capital Markets 2008 Focus on Healthcare Conference. The presentation will be held on August 5, 2008 at 4:00 p.m. ET at the Millennium Broadway Hotel in New York City.

 

A live webcast can be accessed through the Company’s website.

The webcast will be archived for 30 days.


About American CareSource Holdings, Inc.
American CareSource Holdings, the first national, publicly traded ancillary care network services company offers a comprehensive national network of approximately 2,500 ancillary service providers at over 25,000 sites. The Company's ancillary network and management provides a complete outsourced solution for a wide variety of healthcare payors and plan sponsors including self-insured employers, indemnity insurers, PPOs, HMOs, third party administrators and both federal and local governments. For additional information, please visit www.anci-care.com.


7/23/2008
AMERICAN CARESOURCE HOLDINGS REPORTS 225% INCREASE IN REVENUES FOR SECOND QUARTER 2008

DALLAS, TX – July 23, 2008 -- American CareSource Holdings, Inc. (AMEX: XSI) today reported a 225% increase in revenues to approximately $13.0 million for the second quarter ended June 30, 2008 compared to approximately $4.0 million in the same period last year.  The Company’s second quarter revenues also represent a 13.1% improvement over first quarter 2008 reported revenues of $11.5 million.

7/14/2008
AMERICAN CARESOURCE HOLDINGS SIGNS TWO NEW CLIENT AGREEMENTS WITH UNION ORGANIZATIONS IN MIDWEST

DALLAS, TX – July 14, 2008 -- American CareSource Holdings, Inc. (AMEX: XSI) announced today that it has signed new client service contracts with Iron Workers Local 295 Trust Fund, representing Iron Workers throughout the state of Indiana, and Operative Plasterers & Cement Masons Local 692, representing Plasterers and Mason Workers in Northwest Indiana. Both Local #395 and Local #692 are Taft-Hartley Health/Benefits Welfare Trust Funds.

6/30/2008
AMERICAN CARESOURCE HOLDINGS SIGNS NEW CLIENT AGREEMENT WITH VIANT HOLDINGS

DALLAS, TX – June 30, 2008 -- American CareSource Holdings, Inc. (AMEX: XSI) announced today it has signed a new agreement with Viant Holdings, Inc. to provide ancillary care services to Viant’s Beech Street payor client base. Beech Street is one of the largest independent Preferred Provider Organization (PPO) networks in the nation, offering comprehensive healthcare management services and custom healthcare cost containment solutions for clients across the country.

6/25/2008
AMERICAN CARESOURCE HOLDINGS SET TO JOIN RUSSELL MICROCAP INDEX

DALLAS, TX – June 25, 2008 -- American CareSource Holdings, Inc. (AMEX: XSI) announced today that it is set to join the Russell Microcap® Index when Russell Investments reconstitutes its family of U.S. indexes on June 27, 2008, according to a preliminary list of additions posted on June 13, 2008 on www.russell.com.

6/20/2008
Dallas Business Journal - June 20-26, 2008

Earnings Quadrupled At American CareSource

By Joyce Tsai/Staff Writer

6/13/2008
CBS affiliate KRLD-AM 1080 CEO Spotlight 5-minute news segment with David Boone

 


CBS affiliate KRLD-AM 1080 CEO Spotlight 5-minute news segment with David Boone that reached more than 35,000 listeners in the Dallas Fort Worth metropolitan area. KRLD-AM is the leading news talk radio station in the Dallas Fort Worth market.

The segment covers topics including:
- The forces driving growth in ancillary healthcare
- American CareSource’s outsourced solution in ancillary healthcare
- Benefits of ancillary healthcare services
- National trends in American healthcare including 60% of all US surgeries performed outside hospitals
- How American CareSource attracts the most cost-effective and high-quality healthcare solutions
- What Wall Street thinks of American CareSource
- Steps to sustaining “phenomenal “ market growth
- Leadership in a “recession-proof” business

To hear the 5-minute segment, click here.

 


6/4/2008
AMERICAN CARESOURCE HOLDINGS SIGNS NEW CLIENT AGREEMENT WITH EMERALD HEALTH NETWORK


Company Expands its Reach in the Midwest

DALLAS, TX – June 4, 2008 -- American CareSource Holdings, Inc. (AMEX: XSI) announced today it has signed a new agreement with Emerald Health Network (EHN) to provide ancillary care services to EHN’s Preferred Provider Organization (PPO) and payor client base. Emerald Health Network is one of Ohio’s premier PPO networks and has served as a leading healthcare solutions company for both the employer and provider communities since 1983.


5/15/2008
AMERICAN CARESOURCE HOLDINGS REPORTS RECORD FINANCIAL RESULTS FOR 2008 FIRST QUARTER


- Company reports third consecutive quarterly profit of $521 thousand, or $0.03 per share -


DALLAS, TX – May 15, 2008 -- American CareSource Holdings, Inc. (AMEX: XSI) today announced record financial and operational results for the first quarter ended March 31, 2008.


5/1/2008
American CareSource to Discuss First Quarter 2008 Financial Results


Dallas, TX, May 1, 2008 – American CareSource Holdings, Inc. (AMEX: XSI) announced today that it will hold a conference call on May 15, 2008 to discuss financial results for the first quarter ended March 31, 2008. David S. Boone, Chief Executive Officer, and Steven J. Armond, Chief Financial Officer, of American CareSource will host the call.

Access information
Date:   Thursday, May 15, 2008
Time:   10:00 a.m. (CT)/11:00 a.m. (ET)
Dial-in numbers: 877-675-4757 (U.S. & Canada) or 719-325-4911
Live webcast:  www.anci-care.com, under “New & Events”


4/28/2008
ACS Appoints Matthew Thompson Controller and Principal Accounting Officer

DALLAS, TX – April 28, 2008 -- American CareSource Holdings, Inc. (AMEX: XSI) today announced that Matthew Thompson has joined the Company in the position of Controller and Principal Accounting Officer, effective immediately.  Mr. Thompson, 36, will report directly to Steven J. Armond, Chief Financial Officer.

4/23/2008
AMERICAN CARESOURCE HOLDINGS REPORTS 407% INCREASE IN REVENUES FOR FIRST QUARTER 2008

DALLAS, TX – April 23, 2008 -- American CareSource Holdings, Inc. (AMEX: XSI) today reported a 407% increase in revenues to approximately $11.5 million for the first quarter ended March 31, 2008 compared to approximately $2.3 million in the same period last year.  The Company’s first quarter revenues also represent a 14% improvement over fourth quarter 2007 reported revenues of $10.1 million.

4/18/2008
ACS Is Focused On Becoming A Substantial Presence In The Servicing Ancillary Care Space Which Is A Rapidly Growing Segment Of

American CareSource Is Focused On Becoming A Substantial Presence In The Servicing Ancillary Care Space Which Is A Rapidly Growing Segment Of The Healthcare Services Industry

Click "read more" to view the CEOCFO Interview & News!  April 18, 2008 Issue

3/31/2008
AMERICAN CARESOURCE HOLDINGS REPORTS RECORD FINANCIAL RESULTS FOR 2007 FOURTH QUARTER AND YEAR END

 


- Company reports Q4 profit of $319 thousand, or $0.02 per share -

 

DALLAS, TX – March 31, 2008 -- American CareSource Holdings, Inc. (AMEX: XSI) today announced record financial and operational results for the fourth quarter and year ended December 31, 2007.  Highlights include:
• Reported a quarterly profit of $319 thousand in net income, or $0.02 per share – the largest profit in the Company’s history.
• Achieved $10.1 million in revenue for the quarter, a record 260% rise in revenues for Q4 2007 compared to Q4 2006.
• Achieved $23.5 million in revenue for the year, a 106% increase in revenues for 2007 compared to 2006.
• Generated EBITDA, as adjusted, of $222 thousand for the quarter and $(85) thousand for the year.
− EBITDA, as adjusted, (a non-GAAP measure) is defined as income (loss) from operations less depreciation and amortization, non-cash warrant and option compensation expense and executive severance. EBITDA, as adjusted, should be considered in addition to, but not in lieu of, income (loss) from operations reported under generally accepted accounting principles (GAAP).
• The Company finished the year with $4.3 million in cash on hand and generated $687 thousand in cash from operating activities in the fourth quarter.
• Claims volume increased to 51,039 for Q4 2007, up 243% over Q4 2006.
• Recent key executive additions:
− Cornelia Outten appointed to Vice President of Network Development
− Rost A. Ginevich named Chief Information Officer


Commenting on today’s announcement, David S. Boone, Chief Executive Officer of American CareSource, stated, “We are delighted to report such strong financial results for the fourth quarter and year ended December 31, 2007.  We worked diligently during the past year to make the transition from a network provider to an ancillary services provider that works in true partnership with its clients, and I am pleased to say that we achieved this goal. As a result, we were successful in adding new clients while expanding many of our existing client relationships. This has translated into a greater than tripling of revenues for the fourth quarter of 2007 compared to 2006 and a substantial increase in claims volume for the period.


“Our continued growth has necessitated an expansion of the management team.  In February 2008, Cornelia Outten was appointed to the position of Vice President of Network Development and, just recently, Rost Ginevich joined the Company in the newly created position of Chief Information Officer.  Cornelia and Rost each bring to American CareSource over 20 years of experience in their fields of expertise and are already contributing greatly to our growth goals.”


Revenues for the fourth quarter of 2007 rose 260% to $10.1 million compared to $2.8 million in the fourth quarter of 2006. For the year ended December 31, 2007, the Company reported revenues of $23.5 million, a 106% increase compared to revenues of $11.4 million in the same period of 2006.


The Company reported net income of $319 thousand, or $0.02 per share, for the fourth quarter of 2007, compared to a net loss of $673 thousand, or $0.04 per share, in the same period last year. Factors affecting positive current quarter results include increases in revenue from Texas True Choice and HealthSmart, and the implementation of American Administrative Group (AAG) and two other clients.


For the year ended December 31, 2007, the Company reported a net loss of $820 thousand, or $0.06 per share, compared to a net loss of $1.3 million, or $0.09 per share, for the same period in 2006. Excluding the one time charge for the departure of the Company’s former Chief Executive Officer, the net loss for the year ended December 31, 2007 was $490 thousand.


Cash provided by operations was $687 thousand in the fourth quarter of 2007 versus $38 thousand in the fourth quarter of 2006. At December 31, 2007, the Company had $4.3 million in cash and cash equivalents compared to $5.0 million at December 31, 2006.

 


Conference Call
As previously announced, American CareSource will hold a conference call to discuss financial results of the fourth quarter ended December 31, 2007 as follows:

 

Date: Monday, March 31, 2008
Time: 11:00 AM ET/10:00 AM CT
Dial-in numbers: 877-627-6544 (U.S. & Canada) or 719-325-4918
Live webcast: www.anci-care.com, under “News and Events”

The teleconference replay will be available two hours after completion through Monday, April 7, 2008 at 888-203-1112 (U.S. only) or 719-457-0820. The replay pass code is 6401182. The archived webcast will be available for one year on the Company’s investor website, www.anci-care.com, under “News and Events.”


 

About American CareSource Holdings, Inc.
American CareSource Holdings, the first national, publicly traded ancillary care network services company, offers a comprehensive national network of more than 25,000 ancillary provider sites. Through its product offerings, American CareSource helps its clients reduce the cost of ancillary services rendered through its network of providers in more than 30 service categories. The Company’s ancillary network and management provides a complete outsourced solution for a wide variety of healthcare payors and plan sponsors including self-insured employers, indemnity insurers, PPOs, HMOs, third party administrators and both federal and local governments.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995:

Any statements that are not historical facts contained in this release are forward-looking statements. It is possible that the assumptions made by American CareSource Holdings, Inc. for purposes of such statements may not materialize. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements may involve further risks and uncertainties, including but not limited to those relating to product demand, pricing, market acceptance, the effect of economic conditions, and intellectual property rights, and the outcome of competitive products, risks in product development, the ability to complete transactions, and other risks identified in this release, and the Securities and Exchange Commission filings of American CareSource Holdings, Inc.


3/17/2008
American CareSource to Discuss Fourth Quarter 2007 Financial Results


 

 

 

Dallas, TX, March 17, 2008 – American CareSource Holdings, Inc. (AMEX: XSI) announced today that it will hold a conference call on March 31, 2008 to discuss financial results for the fourth quarter and year ended December 31, 2007. David S. Boone, Chief Executive Officer, and Steven J. Armond, Chief Financial Officer, of American CareSource will host the call.

Live webcast will be available here for one year after the conference call.  The teleconference replay will be available two hours after completion through Monday, April 7, 2008 at 888-203-1112 (U.S. only) or 719- 457-0820. The replay passcode is 6401182.


3/10/2008
American Caresource Holdings Appoints Rost A. Ginevich Chief Information Officer

DALLAS, TX – March 10, 2008 -- American CareSource Holdings, Inc. (AMEX: XSI) today announced that Rost A. Ginevich has joined the Company in the newly created position of Chief Information Officer (CIO).  As such, Mr. Ginevich, 44, will be primarily responsible for the development and execution of the Company’s information technology strategy and will report directly to Davis S. Boone, Chief Executive Officer.

2/27/2008
American CareSource Holdings Appoints Cornelia Outten to Vice President of Network Development

DALLAS, TX – February 27, 2008 -- American CareSource Holdings, Inc. (AMEX: XSI) today announced that Cornelia Outten has joined the Company as Vice President of Network Development, effective immediately. Ms. Outten, 48, will report directly to David S. Boone, President and Chief Executive Officer, and will be responsible for expansion of the Company’s growing national network of ancillary care providers.

2/19/2008
AMERICAN CARESOURCE HOLDINGS REPORTS 260% INCREASE IN REVENUES FOR FOURTH QUARTER 2007


- 2007 Year End Revenues Increased 106% -

DALLAS, TX – February 19, 2008 -- American CareSource Holdings, Inc. (AMEX: XSI) today reported a 260% increase in revenues to approximately $10.1 million for the fourth quarter ended December 31, 2007 compared to approximately $2.8 million in the same period last year.  For the year ended December 31, 2007, total revenues increased 106% to approximately $23.5 million compared to approximately $11.4 million in the prior year.


2/13/2008
American CareSource to Present at the Roth Capital Partners 20th Annual OC Growth Stock Conference

Dallas, TX, Wednesday, February 13, 2008 – American CareSource Holdings, Inc. (AMEX: XSI) announced today that its Chief Executive Officer, David S. Boone, will present at the Roth Capital Partners 20th Annual OC Growth Stock Conference. The presentation will be held on February 21, 2008 at 12:00 p.m. PST at The Ritz Carlton Laguna Niguel, Dana Point, California.

Click here to view the presentation.

2007
12/10/2007
AMERICAN CARESOURCE HOLDINGS SIGNS NEW CLIENT AGREEMENT WITH EMPLOYEE BENEFIT MANAGEMENT CORP.

DALLAS, TX – December 10, 2007 -- American CareSource Holdings, Inc. (AMEX: XSI) today announced that its Ancillary Care Services subsidiary has signed a Client Service Agreement with Employee Benefit Management Corp. (EBMC) to provide ancillary care services to EBMC’s payor client base. EBMC is one of the largest and most experienced companies in the Midwest specializing in the management and servicing of self-funded benefit programs.

11/29/2007
American CareSource to Present at the BMO Capital Markets Focus on Healthcare Conference
Dallas, TX, November 29, 2007 – American CareSource Holdings, Inc. (AMEX: XSI) announced today that its Chief Executive Officer, David S. Boone, will present at the BMO Capital Markets Focus on Healthcare Conference. The presentation will be held on December 5, 2007 at 1:30 p.m. ET at the Millennium Broadway Hotel in New York City.

11/12/2007
American CareSource Holdings Announces Strong Third Quarter Financial Results

- Company reports Q3 profit of $188 thousand, or $0.01 per share -

DALLAS, TX – November 12, 2007 -- American CareSource Holdings, Inc. (AMEX: XSI) today announced financial and operational results for the third quarter and nine months ended September 30, 2007. Highlights include:


11/1/2007
American CareSource to Discuss Third Quarter 2007 Financial Results

Dallas, TX, November 1, 2007 – American CareSource Holdings, Inc. (AMEX: XSI) announced today that it will hold a conference call on November 12, 2007 to discuss financial results of the three- and nine- months period ended September 30, 2007. David S. Boone, Chief Executive Officer, and Steven J. Armond, Chief Financial Officer, of American CareSource will host the call.
Access information

Date: Monday, November 12, 2007

Time: 10:00 am (CT)/11:00 am (ET)

Dial-in numbers: 888-812-8518 ( & ) or 913-312-1488

Live webcast: here


10/29/2007
American CareSource Holdings to Present at the Markets 18th Annual Healthcare Conference

Dallas, TX - October 29, 2007 - American CareSource Holdings, Inc. (AMEX: XSI) announced today that its Chief Executive Officer, David S. Boone, will present at the CIBC World Markets 18th Annual Healthcare Conference. The presentation will be held on November 5, 2007 at 10:20 a.m. ET at the Waldorf-Astoria in New York City.


10/25/2007
Steven J. Armond Joins American CareSource Holdings as Chief Financial Officer

DALLAS, TX – October 25, 2007 -- American CareSource Holdings, Inc. (AMEX: XSI) today announced that Steven J. Armond has joined the Company as Chief Financial Officer, effective immediately. In this position, Mr. Armond, 39, will be responsible for the development and execution of financial strategy, business planning and analysis, accounting and administrative functions of the Company.


10/15/2007
American CareSource Holdings, Inc. Announces Record Increase in Third Quarter Revenues

DALLAS, TX – October 15, 2007 -- American CareSource Holdings, Inc. (AMEX: XSI) today reported revenues of $7,088,000 for the third quarter ended September 30, 2007, a 114% increase compared to $3,313,000 in the same period last year.  The Company’s third quarter revenues also represent a 77% improvement over second quarter 2007 reported revenues of $4,008,000.


9/26/2007
David S. Boone has been promoted to the position of Chief Executive Officer of American CareSource Holdings, Inc.

DALLAS, TX – September 26, 2007 -- American CareSource Holdings, Inc. (AMEX:XSI) announced today that David S. Boone has been promoted to the position of Chief Executive Officer of the Company, effective immediately. Mr. Boone had previously served as Chief Operational Officer and Chief Financial Officer of American CareSource, and will retain the title of Chief Financial Officer until a replacement is appointed.


8/16/2007
American CareSource Holdings, Inc. to present at the Noble Financial Double-O-Seven Conference

American CareSource Holdings, Inc. (AMEX: XSI) announced today that its Chief Operational Officer and Chief Financial Officer, David S. Boone, will present at the Noble Financial Double-O-Seven Conference at 12:00 p.m. ET on August 21, 2007 at the Charleston Place Hotel in Charleston, South Carolina.


8/2/2007
American CareSource Holdings, Inc. and subsidiaries consolidated statements of operations (unaudited)

8/2/2007
American CareSource Holdings, Inc. reports second quarter financial results
Dallas, TX, August 2, 2007 – American CareSource Holdings, Inc. (XSI) announced financial results for the second quarter ending on June 30, 2007.

6/29/2007
American CareSource Holdings, Inc. Announces the resignation of Wayne Schellhammer, CEO
Dallas, TX,  July 13, 2007 – American CareSource Holdings, Inc. (XSI) announced today that Wayne A. Schellhammer, President and Chief Executive Officer, has resigned his management and board positions to focus on personal issues and will be relocating to Des Moines, Iowa.

5/15/2007
American CareSource Holdings, Inc. and subsidiaries consolidated balance sheets (unaudited)

5/15/2007
American CareSource Holdings, Inc. reports first quarter financial results

4/2/2007
American CareSource Holdings, Inc. Consolidated Balance Sheets December 31, 2006 and 2005

4/2/2007
American CareSource Holdings, Inc. reports year-end financial results and elects Edward B. Berger Board Chairman
Dallas, TX, April 2, 2007 – American CareSource Holdings, Inc. (XSI) today announced financial results for its fourth quarter and year ended December 31, 2006 and the election of Edward B. Berger as Non Executive Chairman of its Board of Directors.

3/2/2007
American CareSource Holdings Closes Additional $2.7 Million in Private Placement
IRVING, Texas, March 2 /PRNewswire-FirstCall/ -- American CareSource Holdings, Inc. (OTC Bulletin Board: ACSH - News) a healthcare services company today announced it has raised an additional $2.7 million in gross proceeds from the sale of common stock.

1/31/2007
American CareSource Holdings, Inc. Announces New Client Agreement
DALLAS TX –(BUSINESS WIRE)—January 31, 2007--American CareSource Holdings, Inc. (“AMEX: XSI”) announced today that its Ancillary Care Services subsidiary  has signed a Client Service Contract with Health eConnex to provide ancillary care services to Health eConnex’s PPO and payor client base.  Health eConnex (HeC) is a leading outsourcing service provider of mission-critical electronic data interchange (EDI) and e-commerce enabling technologies.  With a broad spectrum of clients, HeC is a proven cost-effective service provider for all data forms and EDI transactions.

1/25/2007
American CareSource Holdings, Inc. Announces New Client Agreement
DALLAS TX –(BUSINESS WIRE)--January 25, 2007--American CareSource Holdings, Inc. (“AMEX: XSI”) announced today that its Ancillary Care Services subsidiary has signed a letter of agreement with a major national PPO and network management company to provide ancillary care services to their client base.

2006
12/21/2006
American CareSource Holdings, Inc. Announces Major Client Expansion

Dallas, TX, December 21, 2006--American CareSource Holdings, Inc. (AMEX: XSI) announced today that its Ancillary Care Services subsidiary has expanded its existing relationship with HealthSmart Preferred Care (HSPC) to include American Administrative Group (AAG).  Both HealthSmart Preferred Care and American Administrative Group are wholly owned subsidiaries of The Parker Group.  HealthSmart Preferred Care has been a client of American CareSource Holdings, Inc. since December 2005.

This expansion will provide American Administrative Group‘s payor clients with access to the extensive Ancillary Care Services network of providers that offer attractive rates on a wide spectrum of ancillary care services.  The company expects that this new relationship will substantially increase claim volume to the company.  Based on initial analytics, the company estimates that this expansion will at minimum increase annual revenue by $8-$12 million dollars once it has been fully implemented. The company expects to begin implementation and recognize revenue within the first quarter of 2007.


12/12/2006
American CareSource Holdings, Inc. Announces The Election Of John Hatsopoulos As An Independent Member Of Its Board Of Directors

11/30/2006
American CareSource Holdings, Inc. to Present at the BMO Capital Markets Focus on Healthcare Conference in New York on Thursday, December 7 at 10:00 a.m.

11/9/2006
American CareSource Holdings, Inc. And Subsidiaries Consolidated Balance Sheets (Unaudited)

11/9/2006
Third Quarter 2006 Financial Results

10/19/2006
The American Stock Exchange Lists the Common Stock of American CareSource Holdings, Inc.
DALLAS, TX--(BUSINESS WIRE)—October 19, 2006— The American Stock Exchange (the “Exchange”) today listed the common stock of American CareSource Holdings, Inc. (“American CareSource”), under the ticker symbol XSI.  “The listing on the American Stock Exchange is another important milestone in the development of our company,” said Wayne Schellhammer, Chief Executive Officer of American CareSource.  “We are honored to be part of the American Stock Exchange; we believe that a listing on the American Stock Exchange will increase our visibility to a broader pool of potential shareholders and create an orderly market for our stock.”

10/18/2006
The American Stock Exchange Lists the Common Stock of American CareSource Holdings, Inc.
DALLAS, TX--(BUSINESS WIRE)—October 18, 2006— The American Stock Exchange (the “Exchange”) will list the common stock of American CareSource Holdings, Inc. (“American CareSource”), for trading tomorrow, October 19, 2006 under the ticker symbol XSI.  “The listing on the American Stock Exchange is another important milestone in the development of our company,” said Wayne Schellhammer, Chief Executive Officer of American CareSource.  “We are honored to be part of the American Stock Exchange; we believe that a listing on the American Stock Exchange will increase our visibility to a broader pool of potential shareholders and create an orderly market for our stock.”

10/16/2006
The American Stock Exchange has Approved the Listing of Common Stock of American CareSource Holdings, Inc.

8/16/2006
American CareSource Holdings, Inc. to present at the Noble Financial Double-O-Seven Conference

8/14/2006
American CareSource Holdings, Inc. announces Second Quarter 2006 Financial Results

Irving, TX, August 11, 2006 – American CareSource Holdings, Inc. (OTCBB: ACSH.OB) today announced financial results for the quarter and six months ended June 30, 2006.


8/11/2006
American CareSource Holdings, Inc. - Second Quarter 2006 Financial Results

8/11/2006
American CareSource Holdings, Inc. Announces Expanded Relationship with ppoNEXT, Inc.

Irving, TX , August 11, 2006--American CareSource Holdings, Inc. (OTCBB: ACSH.OB) announced today that it has signed a Letter of Agreement to expand its existing relationship with ppoNEXT, Inc. that could add $12-$16 million in additional revenue once the implementation process is complete.  American CareSource generated approximately $815,000 in revenue from ppoNEXT, Inc. in 2005.  ppoNEXT, Inc. has been an active client since 2002.


5/24/2006
American CareSource Holdings, Inc. announces the election of David A. George as an independant member of its board of directors
Irving, TX, May 24, 2006 – American CareSource Holdings, Inc. (OTCBB: ACSH.OB) announced today that the Board of Directors has elected David A. George as an independent member of its board of directors.  The election of Mr. George increases the number of Board members from six to seven directors, with four members of the Board qualifying as independent directors.

5/15/2006
American Caresource Holdings, Inc. and subsidiaries consolidated balance sheets (unaudited)

5/15/2006
American CareSource Holdings, Inc. announces first quarter 2006 financial results

Irving, TX, May 15, 2006 – American CareSource Holdings, Inc. (OTCBB: ACSH) today announced financial results quarter ended March 31, 2006.


5/11/2006
American CareSource Holdings, Inc. Announces that the SEC Has Declared Effective its Registration Statement Covering 4,292,280 Shares of Common Stock.
IRVING, TX--(BUSINESS WIRE)—May 11, 2006— American CareSource Holdings, Inc. (OTCBB: ACSH.OB - News) a healthcare services company today announced that the Securities and Exchange Commission has declared effective its Registration Statement on Form SB-2 covering 4,292,280 shares of common stock (of which 313,470 are issuable upon exercise of warrants) for the resale of such shares from time to time by selling stockholders.

3/31/2006
American CareSource Holdings, Inc. announces fiscal 2005 year end and fourth quarter financial results
Irving, TX March 31, 2006 – American CareSource Holdings  (the "Company") (OTCBB: ACSH) a leading ancillary care solutions provider announced its fourth quarter and 2005 fiscal year end financial results.

3/15/2006
American CareSource Holdings, Inc. Expands Management Team With Appointment of James V. O'Rourke to Vice President Sales, National Accounts

IRVING, Texas, March 15 /PRNewswire-FirstCall/ -- American CareSource Holdings, Inc. (OTC Bulletin Board: ACSH - News) today announced that, effective March 1, 2006, James V. O'Rourke has been appointed to the position of Vice President Sales, National Accounts. In this newly created position, Mr. O'Rourke will focus on his existing relationships with third party administrators (TPA) and provide them with the value proposition ACS holds in reducing ancillary care benefit costs. He will report directly to Wayne A. Schellhammer, Chairman and Chief Executive Officer of American CareSource.


3/2/2006
American CareSource Holdings, Inc. Closes Additional $2.7 Million in Private Placement

IRVING, Texas, March 2 /PRNewswire-FirstCall/ -- American CareSource Holdings, Inc. (OTC Bulletin Board: ACSH - News) a healthcare services company today announced it has raised an additional $2.7 million in gross proceeds from the sale of common stock.


2/17/2006
American CareSource Holdings, Inc. Closes $7.3 Million in Private Placement

IRVING, Texas, Feb. 17 /PRNewswire-FirstCall/ -- American CareSource Holdings, Inc. (OTC Bulletin Board: ACSH.OB - News) a healthcare services company today announced that it has raised $7.3 million in gross proceeds from the sale of common stock to institutional and accredited investors.


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