Prospect Medical Holdings Reports Fiscal 2007 Third Quarter Results

CULVER CITY, Calif.--(BUSINESS WIRE)--Prospect Medical Holdings, Inc. (AMEX: PZZ) (Prospect), which manages the medical care of approximately 247,000 HMO enrollees in Southern California, today announced financial results for its fiscal 2007 third quarter and nine month period ended June 30, 2007 (see attached tables). These results included approximately one month of operations from ProMed Health Care (ProMed), which Prospect acquired on June 1, 2007. Revenues for the third quarter of fiscal 2007 were $40.8 million, an increase of 17.0% from $34.8 million in the same period last year. Operating income for the third quarter of fiscal 2007 was $1.2 million as compared to $2.1 million in the third quarter of fiscal 2006. Net income for the third quarter of fiscal 2007 was $0.53 million, or $0.06 per diluted share, as compared to net income of $1.3 million, or $0.16 per diluted share, in the fiscal 2006 third quarter.