Alegro Health Corp.

Alegro Health Corp.

June 04, 2007 09:00 ET

Alegro Board Announces 68% Increase in First Quarter Income

TORONTO, ONTARIO--(Marketwire - June 4, 2007) - Alegro Health Corp. (TSX VENTURE:AGO) a provider of medical, surgical, disability management and multidisciplinary rehabilitation services, today reported its fiscal 2007 first quarter results (January 1st, 2007 to March 31st, 2007). The company has increased before tax earnings to $ 396,000 from $235,000 in the same period in 2006, an increase of 68%.

"We feel that our internal restructuring efforts, along with our ability to adapt to the recent changes in legislation, are reflected in the increased earnings picture", said Brenda Rasmussen, Chairman and CEO. "We are confident that this trend will continue".

"I anticipate an exciting year for Alegro", added Ms. Rasmussen. "With improved earnings from our existing business lines, the startup of CanAm Research, our clinical drug trial research division, and the new opportunities unfolding from our alliance with Global Healthcare Investments and Solutions (see announcement of May 1st, 2007 - Alegro Board Announces Significant Strategic Alliance) the company is positioned for accelerated growth. In addition to continually growing and improving our current subsidiary base, we are actively seeking out and researching opportunities for diversification in the healthcare field".

Three months ended March 31, 2007 2007 2006
$ $

Revenue 3,527,765 3,456,652

Direct costs 2,800,162 2,970,210
General and administrative 258,552 182,238
Amortization of capital assets 72,406 68,903
3,131,120 3,221,351
Income before income taxes 396,645 235,301

Provision for income taxes 132,000 84,501

Net income for the period 264,645 150,800

About Alegro Health Corp.

Alegro Health Corp. is a Canadian healthcare service provider. The company is listed on the TSX Venture Exchange under the symbol "AGO". (

ALEGRO cannot guarantee that any forward looking statements contained in this news release will materialize. Nor is it possible for ALEGRO to commit itself to updating information about risks and other factors pertaining to its business that might appear in this or any other disclosure documents.

The TSX Venture Exchange does not accept responsibilty for the adequacy of this news release.

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