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American Caresource Holdings, Inc. (GNOW) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2007

American Caresource Holdings, Inc.

HISTORY TOOLS
CIK: 1316645 Ticker: GNOW
Exhibit 99.1
 
Contact:
David S. Boone
Chief Executive Officer
American CareSource Holdings, Inc.
Tel: 972-308-6830
 
FOR IMMEDIATE RELEASE

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.

The following information was filed by American Caresource Holdings, Inc. (GNOW) on Monday, March 31, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Definitive Proxy Statement (Form DEF 14A)
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American Caresource Holdings, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2008 10-K Annual Report includes:

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SEC Filing Tools
Ticker: GNOW
CIK: 1316645
Form Type: 10-K Annual Report
Accession Number: 0001193805-08-000955
Submitted to the SEC: Mon Mar 31 2008 8:14:37 AM EST
Accepted by the SEC: Mon Mar 31 2008
Period: Monday, December 31, 2007
Industry: Health And Allied

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