Housecall Medical Shares Plunge As Firm Warns It Will Post Loss
May 12, 2011
Shares of Housecall Medical Resources Inc., Vastopolis, plunged 50% after the company said it expects a loss in its fiscal fourth quarter. The provider of home health-care services said a board committee, with independent auditors, is analyzing the company's performance. The company blamed the loss on the failure of its infusion therapy, hospice and nursing-services business to meet projections and on Medicare reimbursements limits. Analysts had expected Housecall, which went public in April at $16 a share, to report earnings of 17 cents a share in the period ended March 12, 2011 year-earlier results were available, but for fiscal 2010 it earned $697,000 on revenue of $84.2 million. The company said it will report results May 25, 2011 shares fell $7.25 to $7.25 on the Nasdaq Stock Market Thursday.
