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23.01.2018 19:45:34

United American Healthcare Corporation Reports Strong Income Growth in Q3 Fiscal Year 2017 Propelled by Performance of its Wholly Owned Subsidiaries

CHICAGO, Jan. 23, 2018 (GLOBE NEWSWIRE) -- United American Healthcare Corporation (OTC:UAHC) (the "Company" or "UAHC Parent"), today announced the release of its unaudited third quarter report ending September 30, 2017. The quarterly report can be found here. Additionally, the Company provided a summary of financial results from the report and an overview of recent operational highlights.The Company experienced significant income growth in the three-month and nine-month periods ending September 30, 2017, driven by strong performances from the Company's wholly owned subsidiaries Pulse Systems, LLC ("Pulse"), a contract manufacturing company that provides services to the medical device industry, and newly formed UAHC Ventures, LLC ("UAHC Ventures"), a strategic investment organization focusing on opportunities in emerging and high-growth sectors such as blockchain technologies and cryptocurrency.UAHC Parent reported a consolidated year-over-year third-quarter increase in net income of 668% and a net comprehensive income increase of 1,312% for the same period. Further, for the nine-months ending September 30, 2017, the Company reported a year-over-year increase in net income of 452% and an increase in net-comprehensive income of 828%.Other financial highlights for the year-to-date period ending September 30, 2017, include:An increase in total assets of 165% as of September 30, 2017, compared to December 31, 2016; An increase in the total shareholder equity of 137% as of September 30, 2017, compared to December 31, 2016; A year-over-year increase in gross profit from manufacturing services of 7.75% and 32% for the three-month and nine-month periods ending September 30, 2017, respectively; and An increase in earnings per share from net income of 300% for the nine-months ending September 30, 2017, compared to the nine-months ending September 30, 2016.Pulse Systems, LLCPulse experienced positive growth in sales revenue during the third-quarter of 2017, achieving shipments of $2.68 million compared to shipments of $2.17 million in the third-quarter of 2016, which represents ...Full story available on Benzinga.com
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