SOURCE: Ridgecrest Healthcare Group, Inc.

November 08, 2006 14:00 ET

Ridgecrest Announces Record Revenue and Profit for Q3 and YTD Profit

Company Debt Free and Anticipates Further Growth

EL SEGUNDO, CA -- (MARKET WIRE) -- November 8, 2006 -- Ridgecrest Healthcare Group, Inc. (PINKSHEETS: RGHG) announced today that it realized record quarterly revenues and profits for the third quarter ending September 30, 2006. Revenues for the third quarter 2006 were $780,895 compared to $603,335 in quarter one and $422,530 in quarter two. In addition, Ridgecrest also realized a third quarter after tax profit of $127,464, compared to after tax losses of $36,861 in quarter one and $44,979 in quarter two. The increase in revenues reflects Ridgecrest’s successful development strategy and execution of its business model. Revenue and after tax profit for the first three quarters of 2006 are $1,806,760 and $45,624 respectively.

“Ridgecrest’s revenue and profit growth are a direct reflection of its strong position in the industry and a rapidly expanding marketplace,” stated Phil Dalton, CEO of Ridgecrest Healthcare Group, Inc. “We have been able to realize strong revenues and profits without incurring any debt, and we are excited and confident about the company’s future and anticipated further growth,” continued Mr. Dalton.

Ridgecrest Healthcare Group, Inc. is a healthcare management services company that works with large healthcare providers, healthcare companies, government and related companies and organizations. Ridgecrest further seeks to acquire and operate healthcare management companies and leverage its relationships and strategic and financial expertise to enhance and grow these enterprises.

For more information on Ridgecrest Healthcare Group, Inc., please visit our website at:

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are "forward-looking statements" are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties or other factors which may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as: the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels.

All information in this release is as of the date of this release. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.

Contact Information

  • Contact:
    Derek Buchanan
    Ridgecrest Healthcare Group, Inc.