ACCESS PLANS REPORTS FISCAL 2009 FOURTH QUARTER AND YEAR-END RESULTS
Fourth Quarter EPS of $0.06; Full Year EPS of $0.19
NORMAN, OK December 11, 2009 Access Plans, Inc. (OTC.BB:ALHC), a leading membership and insurance
marketing company, today announced financial results for its fiscal fourth quarter and year ended
September 30, 2009. Fiscal 2009 results reflect the Companys acquisition of Access Plans USA,
completed on April 1, 2009, and higher share count resulting from the transaction.
On December 8, 2009, the Company announced that as the result of a reincorporation merger, it
changed its corporate name from Alliance HealthCard, Inc. to Access Plans, Inc. which better
reflects the Companys broadened scope of services. Pending final approval, the Company also plans
to implement a change of its stock trading symbol.
Revenues for the fiscal 2009 fourth quarter increased to $13.6 million compared to $5.5 million in
the prior-year period primarily as a result of the acquired Access Plans USA operations. Operating
income was $1.1 million versus $1.4 million in the prior-year period which reflected the impact of
the acquired Access Plans USA operations as well as higher claims expense in Wholesale Plans. Net
income for the period was $1.3 million versus $0.8 million in the year ago period primarily related
to a deferred tax benefit. On a per share basis, earnings were $0.06 versus $0.05 per diluted
share in last years fourth quarter. As a result of the Access Plans USA acquisition, the Company
had 21.6 million shares outstanding at September 30, 2009, versus 14.8 million shares at the end of
last years fourth quarter.
For the fiscal 2009 full year, revenues were $39.1 million compared to $20.9 million in the prior
year. Operating income was $4.3 million versus $4.9 million in the prior year. Net income for
fiscal 2009 was $3.4 million versus $2.7 million. On a per share basis, earnings were $0.19 versus
$0.18 per diluted share in fiscal 2008.
Fiscal 2009 was a transformational year for the Company as we successfully enhanced and expanded
our operations through the Access Plans acquisition and integration, commented Danny Wright, Chief
Executive Officer. In the fourth quarter, we continued to realize additional efficiencies
resulting from the acquisition and consolidation of our Atlanta call center operation into the
Irving, Texas location. This will result in significant annualized savings going forward.
Mr. Wright continued, Despite market challenges, we were able to maintain positive results in the
fourth quarter and position the business for more profitable, long-term growth. We are actively
pursuing opportunities to cross-sell our expanded suite of services, particularly our membership
and insurance offerings geared towards the individual healthcare market and are currently
negotiating a significant reduction in network costs.