EXHIBIT 99
UCI MEDICAL AFFILIATES, INC.
REPORTS FISCAL YEAR END RESULTS FOR SEPTEMBER 30, 2005
Columbia, SC - December 12, 2005 - UCI Medical Affiliates, Inc. (OTC Bulletin
Board: UCIA) reported today net income of $7,541,000 or $.77 per share for the
fiscal year 2005 as compared to $3,214,000 or $.33 per share for fiscal year
2004.
The Company reported that revenue for the year ending September 30, 2005
increased to $56,642,000 from $47,474,000 for the year ending September 30,
2004, an increase of 19%.
Revenue for the quarter ended September 30, 2005 was $14,786,000 or 24% greater
than the $11,896,000 earned for the quarter ended September 30, 2004. This
increase in revenues is attributed to the opening of four new centers, an
increase in the patient visits and improved revenue per patient.
"We are thrilled with our continued increase in revenue, which we attribute to
planned, strategic growth. In October we opened another location in Bluffton, SC
to better serve residents in the growing South Carolina Low Country. We also
established our second specialty care practice, Carolina Orthopaedics and Sports
Medicine, to offer a higher level of care for our patients with orthopaedic and
sports medicine needs," said President and Chief Executive Officer, Michael
Stout, MD. "As our company grows larger in size and scope, we are more focused
on the small details that can enhance a patient's experience with us. Evaluating
Doctors Care from the patient's perspective is giving us vital information that
will help us create consistency and ensure continued success."
The Company's September 30, 2005 balance sheet reflects total assets of
$23,399,000 as compared to $17,549,000 at September 30, 2004 while stockholders'
equity at September 30, 2005 was $13,321,000 as compared to $5,780,000 at
September 30, 2004.
"The fact that our stock has risen considerably demonstrates the strength of our
mission," said Jerry F. Wells, Jr., CPA, Executive Vice President and Chief
Financial Officer. "Our efforts extend beyond providing clinical care in our
healthcare facilities. We are a major sponsor of "Caring for the Carolinas", a
community effort in the upstate that recently raised more than $530,000 for the
Hurricane Katrina relief effort. That's just one example of the many ways our
employees are working to make a difference."
UCI Medical Affiliates, Inc. provides non-medical management and administrative
services for freestanding medical centers, which operate as Doctors Care,
Progressive Physical Therapy Services, Luberoff Pediatrics and Carolina
Orthopaedic and Sports Medicine providing family care, urgent care, and
occupational healthcare in 46 offices in South Carolina and one in Knoxville,
Tennessee.
Certain of the statements contained in this Press Release that are not
historical facts are forward-looking statements subject to the safe harbor
created by the Private Securities Litigation Reform Act of 1995. We caution
readers of this Press Release that such forward-looking statements involve known
and unknown risks, uncertainties and other factors that may cause our actual
results, performance or achievements to be materially different from those
expressed or implied by such forward-looking statements. Although our management
believes that their expectations of future performance are based on reasonable
assumptions within the bounds of their knowledge of their business and
operations, we have no assurance that actual results will not differ materially
from their expectations. Factors that could cause actual results to differ from
expectations include, among other things, (1) the difficulty in controlling our
costs of providing healthcare and administering our network of centers; (2) the
possible negative effects from changes in reimbursement and capitation payment
levels and payment practices by insurance companies, healthcare plans,
government payors and other payment sources; (3) the difficulty of attracting
primary care physicians; (4) the increasing competition for patients among
healthcare providers; (5) possible government regulations negatively impacting
our existing organizational structure; (6) the possible negative effects of
prospective healthcare reform; (7) the challenges and uncertainties in the
implementation of our expansion and development strategy; (8) the dependence on
key personnel; (9) adverse conditions in the stock market, the public debt
market, and other capital markets (including changes in interest rate
conditions); (10) the strength of the United States economy in general and the
strength of the local economies in which we conduct operations may be different
than expected resulting in, among other things, a reduced demand for practice
management services; (11) the demand for our products and services; (12)
technological changes; (13) the ability to increase market share; (14) the
adequacy of expense projections and estimates of impairment loss; (15) the
impact of change in accounting policies by the Securities and Exchange
Commission; (16) unanticipated regulatory or judicial proceedings; (17) the
impact on our business, as well as on the risks set forth above, of various
domestic or international military or terrorist activities or conflicts; (18)
other factors described in this Press Release and in our other reports filed
with the Securities and Exchange Commission; and (19) our success at managing
the risks involved in the foregoing.
Contact: Jerry F. Wells, Jr., CPA, Executive Vice President
and Chief Financial Officer
UCI Medical Affiliates, Inc.
4416 Forest Drive, Columbia, South Carolina 29206
Telephone: (803) 782-4278