Ct Healthmarket via BizWire
06-23-2003, 06:20 AM
TAMPA, Fla.--(BUSINESS WIRE)--June 23, 2003--PlanVista Corporation
(OTC:PVST) today filed a Form 8-K with the Securities and Exchange
Commission pursuant to Regulation FD disclosing under Item 9 its
fiscal year 2003 and 2004 operating revenue and EBITDA(a) profit
estimates.
Regulation FD Disclosure
The 8-K discloses that the Company estimates operating revenue for
fiscal year 2003 to be $34.0 million to $36.0 million and its EBITDA
(a non-GAAP measure defined as earnings from continuing operations
before interest, taxes, depreciation, and amortization) profit for
fiscal year 2003 to be $11.5 million to $12.5 million.
The 8-K further discloses that for fiscal year 2004, the Company
estimates operating revenue to be $45.0 million to $50.0 million and
its EBITDA profit to be $17.0 million to $19.5 million. The Company
will provide supplemental guidance on earnings per share information
once it completes its balance sheet recapitalization efforts.
The information in the 8-K is furnished pursuant to Item 9 and
shall not be deemed to be "filed" for purposes of Section 18 of the
Securities Exchange Act of 1934 (the "Exchange Act") or otherwise
subject to the liabilities of that section, except if the Company
specifically states that the information is to be considered "filed"
under the Exchange Act of 1934 or incorporates it by reference into a
filing under the Securities Act of 1933 or the Exchange Act. The 8-K
will not be deemed an admission as to the materiality of any
information in the 8-K that is required to be disclosed solely by
Regulation FD.
The Company has prepared the prospective financial information set
forth in the 8-K to inform the capital markets of its expectations
regarding its results for fiscal years 2003 and 2004. The prospective
financial information was not prepared with a view toward complying
with the guidelines established by the American Institute of Certified
Public Accountants with respect to prospective financial information,
but, in the view of the Company's management, was prepared on a
reasonable basis, reflects the best currently available estimates and
judgments, and presents, to the best of management's knowledge and
belief, the Company's expected course of action and expected future
financial performance. However, this information is not based on
actual facts and should not be relied upon as being necessarily
indicative of future results.
(a) EBITDA is a metric that Company management believes is a
meaningful measure of operating performance. The calculation of EBITDA
has no basis in Generally Accepted Accounting Principles.
PlanVista Solutions provides medical cost containment and business
process outsourcing solutions to the medical insurance and managed
care industries. We provide integrated national preferred provider
organization network access, electronic claims repricing, and network
and data management services to health care payers, such as
self-insured employers, medical insurance carriers, third party
administrators, health maintenance organizations, and other entities
that pay claims on behalf of health plans. We also provide network and
data management services to health care providers, such as individual
providers and provider networks. Visit the Company's website at
http://www.planvista.com.
Caution Concerning Forward-Looking Statements:
This press release includes forward-looking statements related to
PlanVista that involve risks and uncertainties including, but not
limited to, our ability to expand our client base; the success of our
new products and services; our ability to maintain our current
provider network arrangements; our ability to manage costs and comply
with the terms of our senior credit facility; our ability to reduce
and restructure debt; and our ability to maintain and update our
information technology. These forward-looking statements are made in
reliance on the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. For further information about these
factors that could affect the Company's future results, please see the
Company's filings with the Securities and Exchange Commission. Copies
of these filings are available upon request from the Company's chief
financial officer. Prospective investors are cautioned that
forward-looking statements are not guarantees of future performance.
Achieved results may differ materially from management expectations.
All forward-looking statements included in this press release are
based on information available to us on the date of filing, and we
assume no obligation to update any such forward-looking statements.
(OTC:PVST) today filed a Form 8-K with the Securities and Exchange
Commission pursuant to Regulation FD disclosing under Item 9 its
fiscal year 2003 and 2004 operating revenue and EBITDA(a) profit
estimates.
Regulation FD Disclosure
The 8-K discloses that the Company estimates operating revenue for
fiscal year 2003 to be $34.0 million to $36.0 million and its EBITDA
(a non-GAAP measure defined as earnings from continuing operations
before interest, taxes, depreciation, and amortization) profit for
fiscal year 2003 to be $11.5 million to $12.5 million.
The 8-K further discloses that for fiscal year 2004, the Company
estimates operating revenue to be $45.0 million to $50.0 million and
its EBITDA profit to be $17.0 million to $19.5 million. The Company
will provide supplemental guidance on earnings per share information
once it completes its balance sheet recapitalization efforts.
The information in the 8-K is furnished pursuant to Item 9 and
shall not be deemed to be "filed" for purposes of Section 18 of the
Securities Exchange Act of 1934 (the "Exchange Act") or otherwise
subject to the liabilities of that section, except if the Company
specifically states that the information is to be considered "filed"
under the Exchange Act of 1934 or incorporates it by reference into a
filing under the Securities Act of 1933 or the Exchange Act. The 8-K
will not be deemed an admission as to the materiality of any
information in the 8-K that is required to be disclosed solely by
Regulation FD.
The Company has prepared the prospective financial information set
forth in the 8-K to inform the capital markets of its expectations
regarding its results for fiscal years 2003 and 2004. The prospective
financial information was not prepared with a view toward complying
with the guidelines established by the American Institute of Certified
Public Accountants with respect to prospective financial information,
but, in the view of the Company's management, was prepared on a
reasonable basis, reflects the best currently available estimates and
judgments, and presents, to the best of management's knowledge and
belief, the Company's expected course of action and expected future
financial performance. However, this information is not based on
actual facts and should not be relied upon as being necessarily
indicative of future results.
(a) EBITDA is a metric that Company management believes is a
meaningful measure of operating performance. The calculation of EBITDA
has no basis in Generally Accepted Accounting Principles.
PlanVista Solutions provides medical cost containment and business
process outsourcing solutions to the medical insurance and managed
care industries. We provide integrated national preferred provider
organization network access, electronic claims repricing, and network
and data management services to health care payers, such as
self-insured employers, medical insurance carriers, third party
administrators, health maintenance organizations, and other entities
that pay claims on behalf of health plans. We also provide network and
data management services to health care providers, such as individual
providers and provider networks. Visit the Company's website at
http://www.planvista.com.
Caution Concerning Forward-Looking Statements:
This press release includes forward-looking statements related to
PlanVista that involve risks and uncertainties including, but not
limited to, our ability to expand our client base; the success of our
new products and services; our ability to maintain our current
provider network arrangements; our ability to manage costs and comply
with the terms of our senior credit facility; our ability to reduce
and restructure debt; and our ability to maintain and update our
information technology. These forward-looking statements are made in
reliance on the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. For further information about these
factors that could affect the Company's future results, please see the
Company's filings with the Securities and Exchange Commission. Copies
of these filings are available upon request from the Company's chief
financial officer. Prospective investors are cautioned that
forward-looking statements are not guarantees of future performance.
Achieved results may differ materially from management expectations.
All forward-looking statements included in this press release are
based on information available to us on the date of filing, and we
assume no obligation to update any such forward-looking statements.
