ORANGE — Benefiting from increased demand for its medical products and services for patients requiring long-term care, Quantum Health Resources Inc. reported sharply higher earnings of $5.5 million and a 66% gain in sales compared to a year earlier.
The Orange firm, which first sold stock to the public in May, reported earnings per share for the year of 45 cents, compared to 12 cents a share on earnings of $1.18 million in 1990.
Revenue was $76.9 million, up from $46.4 million in 1990.
Quantum has developed a treatment program, which it calls Chronicare, for long-term care of hemophiliacs. It recently adapted this program to other patients with chronic disorders who require long-term therapy. An increasing number of people are being diagnosed as suffering from protein deficiency disorders, which can result in genetic emphysema and a significantly reduced resistance to diseases. Quantum has developed drug treatments designed to treat protein deficiencies.
"Technological advances have raised the number of chronic disorder groups and created a new market for us," said Chairman Douglas H. Stickney.
Besides pharmaceutical products, Quantum also provides in-home therapeutic services for patients nationwide.
Stickney said the company now has $28 million in cash and is seeking to acquire companies that provide long-term care to organ transplant patients, as well as companies in related markets. In July, it acquired Comprehensive Home Services Inc. of Fresno for $9 million.
Quantum had fourth-quarter earnings of $1.8 million, or 14 cents a share, compared to $630,400, or 6 cents a share, a year earlier. Revenue rose 53% to $22.3 million.
Quantum Health Resources Inc.
Quantum Health Resources Inc.'s earnings rose 36% to $4.3 million in 1991. Revenue rose 66% to $76.9 million for the year ended Dec. 31. The company held its initial public offering April 30, 1991, selling 2.8 million shares and raising net proceeds of $31 million. The Orange-based company provides therapies and support services to individuals affected by certain long-term chronic diseases.
Figures are in thousands, except per-share data.
4th Qtr 4th Qtr 12 Months 12 Months 1991 1990 1991 1990 Revenue $22,260 $14,535 $76,854 $46,358 Net income (loss) 1,844 630 5,514 1,179 Per share (loss) 0.14 0.06 0.45 0.12
Source: Quantum Health Resources Inc.