Dialysis Corporation of America Reports Q3 2009 Results

LINTHICUM, Md., Nov. 4 -- Dialysis Corporation of America (NASDAQ:DCAI) announced its financial results for the third quarter of 2009.

-- Quarter end patient census was approximately 2,050.
-- Quarterly Results included:
-- Operating revenues were $25.1 million compared to $21.9 million for the same period last year, a 15% increase.
-- Operating income was $2.0 million compared to $1.5 million for the same period last year, a 30% increase.
-- Net income was $940,000 or $0.10 per basic and diluted share compared to $875,000 or $0.09 per basic and diluted share for the same period last year.

Results for the first nine months of 2009 included:

-- Operating revenues were $73.3 million compared to $63.2 million for the same period last year, a 16% increase.
-- Operating income was $4.5 million compared to $4.0 million for the same period last year, a 13% increase.
-- Net income was $1.8 million or $0.19 per basic and diluted share compared to $2.0 million or $0.21 per basic and diluted share for the same period last year.

Stephen Everett, President and Chief Executive Officer, commented, "Our third quarter results were as we had expected, with very solid performances on all financial fronts. Our two newest centers in Ohio remain on track for opening within the next few months, subject to state licensure timing. On the corporate support front, our clinical information system is slightly ahead of schedule with expectations of completing our rollout close to this year's end, nearly four months ahead of plan. Finally, our development activities are active, with certain of those opportunities with physician partners being well advanced."

Financial results for the period included:

-- Pre-tax costs associated with opening new centers were $10,000 for the 3rd quarter of 2009 compared to $339,000 for the same period last year, and $204,000 for the first nine months of 2009 compared to $577,000 for the same period last year.

-- Non-cash stock compensation expense was $70,000 for the third quarter of 2009 compared to $82,000 for the same period last year, and $217,000 for the first nine months of 2009 compared to $239,000 for the same period last year.

Dialysis Corporation of America will be hosting a conference call in conjunction with its earnings release for the third quarter of 2009. The conference call will be held on Thursday, November 5, 2009 at 10:00 a.m. EST. The call is accessible either by dialing 1-866-814-8476 (enter attendee code: 1405582), or through simulcast on the internet at http://www.startconference.com/, using conference ID 2135668. Participants may be asked to provide the title of the conference call, which is "Dialysis Corporation of America Third Quarter Earnings." A replay of the conference call will be available on the company's website, www.dialysiscorporation.com, for a period of thirty days following the conference call.

Dialysis Corporation of America owns and operates freestanding kidney hemodialysis centers located in Georgia, Maryland, New Jersey, Ohio, Pennsylvania, South Carolina, and Virginia, and provides in-hospital dialysis services on a contract basis to certain hospitals located in the those states. The company provides patients with their choice of a full range of quality in-center, acute or at-home hemodialysis services.

Other Dialysis Corporation of America press releases, corporate profile, corporate governance materials, quarterly and current reports, and other filings with the Securities and Exchange Commission are available on Dialysis Corporation of America's internet home page: http://www.dialysiscorporation.com/.