SOURCE: Unity Management Group, Inc.

Unity Management Group, Inc.

April 20, 2011 10:10 ET

Unity Management Group Inc. Reports First Quarter 2011 Financial Results

EAST HANOVER, NJ--(Marketwire - Apr 20, 2011) - Unity Management Group, Inc. (PINKSHEETS: UYMG) "UNITY" (or the "Company") is a Health Resource Company specializing in Physician, and Hospital Practice Management, Business Services, Billing Software and Technologies, along with Pharmacy Instrumentation, Calibration, Data Acquisition, and Equipment Distribution.

Unity Management Group Inc. is pleased to announce the first quarter financial results for 2011 and comparable for 2010, showing a 36% increase over 2010.

Business Outlook for the June quarter, Unity expects to report revenue of $1.5m. - $2.3 million. Included in the June quarter outlook is the following:

  • Approximately $900,000 for sales of their new PZ Uno Tablet press, along with extended maintenance contracts
  • Approximately $300,000 - $400,000 in sales of their new Gamlin Tablet Press.
  • Approximately $1.7m in additional orders on their legacy products plus extended orders on outstanding bids to be completed.

"This quarter was marked by UYMG's measurable progress toward regaining MCC's (Metropolitan Computing Corporations) longstanding product leadership position across all markets," said Michael Oliver, Unity's Vice-President. "With a strong balance sheet, Unity is operating from a position of strength. Looking forward, in the face of a challenging macro-economic environment, we will focus on cost controls and inventory management while continuing to invest in the key technologies that will solidify product leadership. As a result, we remain highly confident in our ability to convert the long-term growth in demand for our new products into superior value for our shareholders."

Unity Management Group Inc.
Consolidated Financial Highlights
Fiscal First Quarterly Report
January through March 2010 & 2011
Jan-March 2010Jan-March 2011
Ordinary Income/Expense
Income
4000-Revenues-Sales> 223,762.09 <> 310,768.38 <
4999- Uncategorized Income0.01
4800-Discounts-35.00
Total Income223,727.09310,768.39
Cost of Goods Sold
6510-20-Payroll-Director Lab120,472.8576,411.72
5020-Product Components15,119.5833,320.62
5040-Leased Equipment2,104.60465.96
6500-Payroll17,643.24
Total COGS137,697.03127,841.54
Gross Profit86,030.06182.926.84
Expense
66900-Reconcillitaion Discrepancies-39.45
7000- Equipment Storage223.83
7655-Travel Agent Fees983.00
6215-Investor Relations1,196.99
6520-30-Payroll-Sales5,000.0038,484.00
6505-40-Payroll-Clerical Staff10,597.257,785.50
6530- Payroll Taxes23,556.1215,852.35
6140-Travel for Installations5,270.9110,030.98
6150-Shipping for Installations3,605.7116,092.89
6200-Sales and Marketing
6220-Advertising5,452.88
6230-Postage & Delivery25.41
6260- Travel-Hotel-Meals3,450.17
6200- Sales and marketing-Other5,522.11
Total 6200- Sales and marketing14,450.57
6225- Data Processing Fee49.95
7100- Auto Expense (Not COGS)47.50
7150- Employee benefits
7160-401K205.50
7170- Other benefits (Lunches, etc.)74.63
Total 7150- Employee Benefits280.13
7200-Insurnace
7210-Automobile106.21
7230-General Liability1,648.84
7250-Life276.06
7260-Medical4,379.873,335.16
7270-Workmen Compensation2,986.173,775.10
Total 7200-Insurnace9,397.157,110.26
7230- Professional Fees
7260- Medical4,379.87
7270- Workmen Compensation2,986.17
Total 7200- Insurance9,397.15
7300 Professional Fees
7310 Accounting & book keeping2,000.004,500.00
7330- Legal Fees2,575.00
7350 Consulting12,000.006,190.00
Total 7300 Professional Fees14,000.0013,265.00
7560- Rent17,197.2425,786.74
7580- Gas & Electric6,953.864,248.66
7540- Telephone and internet1,886.722,689.45
7570- Repairs & maintenance2,070.262,862.51
7500- Office Expense1,243.15
7510- Office Equipment85.59
7500- Office Equipment804.03
7530- Office Supplies2,483.10375.46
7550- Postage and Shipping1,561.37347.87
7575- License and permits83.00
7320- Bank service charges1,131.42891.50
7321- Payroll Processing Fees2,404.45536.80
7650-Travel5,887.06
7660- Meals & Entertainment920.39
7950- Uncategorized Expenses5,072.55
8100-expenses reimbursement others606.81
Total Expense108,459.85177,368.04
Net ordinary Income(22,429.79)5,558.81
Other Income/Expense
Other Expense
9000-Taxes-Income8,931.31
9100-Intrest and Finance charges2,279.60
Total other expense2,279.608,931.31
Total other expense2,279.60
Net other expense2,279.60(8,931.31)
Net Income(24,709.39)(3,372.50)

About Unity Management Group, Inc.: Unity Management Group, a health resource company, will continue to provide innovative physician practice management services that offer high value and significant return on investment for physicians practices and hospitals through its three subsidiary companies: United Healthcare Solutions Inc., Unity Technologies Inc., and United Business Services Inc.

The first subsidiary, Unity Business Services, is a full service management company offering solutions in practice management, billing, staffing, contracting, licensing, credentialing, and accounting. Unity Business Services also offers assistance in HIPAA compliance, marketing, and unique solutions for practice start-ups and new practices.

Unity Technologies Inc. is a complete software solutions company offering billing, electronic medical records, and electronic health records for physicians' offices and hospitals.

United Healthcare Solutions, a national company based in Nevada, is a healthcare company will be providing medical, vision and dental plans, as well as PPO and HMO networks.

For more information please go to our website which can be found at
www.unitymanagementgroup.comwww.mcc-online.com

Certain information discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the Company's inability to accurately forecast its operating results; the Company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the Company's business. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

Contact Information

  • Unity Management Group, Inc.
    Investor Relations
    855-413-0755