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 | 8034  | | APNC | | 01-Jan-2000 02:06 AM | |
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 | 3022 | | APNC | | 18-Jun-2010 02:06 PM | |
They filed the form 4 today. The company is chugging along waiting for news of second offering at some of the 4,000 plus rent to own stores they offer products in. Also insurance marketing is getting new products. |
| 2723 | | APNC | | 13-May-2010 08:08 AM | |
Access Plans Reports Fiscal 2010 Second Quarter Results
2Q 2010 EPS Increases 100% Over 2Q 2009
NORMAN, OK, May 13, 2010 (MARKETWIRE via COMTEX) -- Access Plans, Inc. (APNC 1.20, +0.05, +4.35%) , a leading membership and insurance marketing company, today announced financial results for its fiscal 2010 second quarter ended March 31, 2010. The results reflect the Company's acquisition of Access Plans USA, Inc., completed on April 1, 2009.
Revenues for the fiscal 2010 second quarter increased to $13.5 million compared to $5.9 million in the prior-year period in large part as a result of the acquired Access Plans USA operations in April of 2009. Operating income increased 86% to $1.3 million versus $0.7 million in the prior-year period, which reflected the impact of the acquired Access Plans USA operations and organic growth.
Net income for the fiscal 2010 second quarter increased 133% to $0.7 million up from $0.3 million for the same period. On a per share basis, earnings increased 100% to $0.04 versus $0.02 per diluted share in last year's second quarter. The Company had 19.8 million weighted average shares outstanding at March 31, 2010, versus 14.9 million shares at the end of last year's second quarter. The increased share count reflects the Access Plans USA acquisition in April 2009 and is factored into the EPS for this quarter.
"We generated improved top-line performance and solid profitability in the period as we continued to build on our broad portfolio of membership services programs for multiple distribution channels," commented Danny Wright, Chief Executive Officer. "Our Wholesale Plans Division generated 15% organic revenue growth on the strength of new and existing business partners who value our products as a highly profitable source of income to complement their core businesses. At our Retail Plans Division, we are benefiting from recent customer additions that are still early in their maturity cycle and in revenue ramp-up mode. Within the acquired Insurance Marketing Division, we are focusing our efforts on transitioning the Division's mix from major medical insurance to emphasize more profitable supplemental insurance products. These products are structured typically as association memberships that are more in keeping with our offerings in our Wholesale Plans and Retail Plans Divisions."
Wholesale Plans
Revenues for the Wholesale Plans Division in the fiscal 2010 second quarter increased 15% to $5.6 million, or 42% of total revenues, versus $4.9 million in the prior-year period. As noted, the increase was attributable to improved sell-through at existing locations resulting from improved focus and sales training as well as the addition of new accounts. Gross margin improved 20% to $1.0 million on a year-over-year basis versus $0.8 million due to the revenue increase and a reduction in involuntary unemployment expenses resulting from moderating unemployment claims. The increase in gross margin was partially offset by higher product service expense on existing contracts related to increased program participation and benefits usage. Operating income in the fiscal 2010 second quarter increased 20% from $0.5 million versus $0.4 million in the prior-year period.
Retail Plans
Revenues for the Retail Plans Division in the fiscal 2010 second quarter increased 132% from $4.1 million, prior to inter-company eliminations, versus $2.2 million in the prior-year period. The increase was attributable primarily to the acquired Access Plans USA operations which expanded the Company's discount health membership offerings. Additionally, fiscal 2010 second quarter results include the impact of two previously announced contracts which continue to ramp up and an increased contribution from a membership plan with the nation's largest pharmacy retail chain that was launched in October of 2008. Operating income in the fiscal 2010 second quarter increased 80% to $0.9 million compared to $0.5 million in the prior-year period.
Insurance Marketing
Insurance Marketing Division revenues in the fiscal 2010 second quarter decreased to $4.9 million versus $5.5 million in the first quarter of fiscal 2010. The sequential decline was due in large part to the exit of two major medical carriers. Operating income decreased to $0.1 million income versus $0.3 million income in the fiscal 2010 first quarter. The Insurance Marketing Division comprises the America's Health Care Plans (AHCP) insurance agency operations acquired as part of the Access Plans USA acquisition. As a result, there are no comparable results from the prior-year period. With the recent passage of health care reform, Access Plans, in partnership with its agent network and the insurance carriers it represents, will be transitioning its product mix over the next several quarters to emphasize association-based supplemental insurance products over lower-margin, higher-volume individual health insurance policies.
Other Matters
Cash and cash equivalents and restricted cash totaled $5.2 million at March 31, 2010 versus $5.7 million at December 31, 2009. This decrease is a result of a $1.0 million note payoff. As a result of the note retirement, the Company has no long-term debt. Stockholders' equity has increased 196% from $4.6 million on March 31, 2009 to $12.6 million on March 31, 2010.
Conference Call and Webcast Information
Access Plans will host a conference call today, May 13, 2010, at 10:00 a.m. ET. To access the conference call, please dial 877-869-3847 (U.S.) or 201-689-8261 (international) approximately 10 minutes prior to the start of the call. The conference call will also be available via live webcast under the Investor Relations section of the Company's website, www.accessplans.com, or click here to access the webcast directly.
If you are unable to listen to the live call, a replay will be available through May 20, 2010, and can be accessed by dialing 877-660-6853 (U.S.) or 201-612-7415 (international). Callers will be prompted for replay account number 355# followed by conference ID number 350658#. An archived version of the webcast will also be available under the Investor Relations section of the Company's website, www.accessplans.com.
About Access Plans, Inc.
Access Plans, Inc. /quotes/comstock/11k!apnc (APNC 1.20, +0.05, +4.35%) is a leading membership and insurance marketing company with three complementary distribution channels offering multiple opportunities for growth. The Wholesale Plans Division specializes in turnkey, private label membership benefit plans offered through retail outlets including rent-to-own centers. The Retail Plans Division markets healthcare-related discount products and services to consumers through third-party marketers. Program components in both membership plan divisions range from medical, dental and pharmacy discounts to grocery, restaurant, automotive, travel and other consumer discounts. The Insurance Marketing Division comprises America's Health Care Plans (AHCP), one of the nation's largest independent agent networks for distributing individual major medical health insurance. For more information, please visit: www.accessplans.com. |
| 2066 | | APNC | | 07-Feb-2010 07:10 PM | |
Access Plans Reports Fiscal 2010 First Quarter Results
NORMAN, OK -- (Marketwire) -- 02/03/10 --
Access Plans, Inc. (OTCBB: APNC), a leading membership and insurance marketing company, today announced financial results for its fiscal 2010 first quarter ended December 31, 2009. The results reflect the Company's acquisition of Access Plans USA, completed on April 1, 2009, including a higher share count resulting from the transaction
Revenues for the fiscal 2010 first quarter increased to $13.3 million compared to $5.7 million in the prior-year period primarily as a result of the acquired Access Plans USA operations. Operating income increased 35% to $1.6 million versus $1.2 million in the prior-year period, which reflected the impact of the acquired Access Plans USA operations, and improved sequential profitability in the Company's Wholesale Plans Division
Despite the improvement in operating income, net income for the period was $0.9 million versus $1.0 million last year. The decline related to an increase in the Company's tax rate to 39.5% in the fiscal 2010 first quarter versus 34% in the prior-year period as well as to a deferred tax benefit recognized last year. On a per share basis, earnings were $0.04 versus $0.06 per diluted share in last year's first quarter which reflected the increased number of shares outstanding as well as the deferred tax benefit. As a result of the Access Plans USA acquisition in April 2009, the Company had 20.5 million weighted average shares outstanding at December 31, 2009, versus 14.8 million shares at the end of last year's first quarter. The share count at the end of the fiscal 2010 first quarter also reflects the Company's repurchase of approximately 1.9 million shares during the period as a condition of a legal settlement
"With most of the immediate cost savings realized from the acquired Access Plans operations, we shifted our emphasis in the quarter to positioning our businesses for sustainable, long-term growth," commented Danny Wright, Chief Executive Officer. "Our Wholesale Plans Division has benefited from moderating unemployment and offers us significant opportunity to leverage our installed customer base and introduce new product and service offerings, including individual healthcare programs. Within our Retail Plans Division, recent wins and solid execution are expected to drive top-line performance while an anticipated reduction in network costs resulting from a change in provider should enhance segment profitability
Lastly, the acquired Insurance Marketing Division, which has reached profitability under our ownership, offers us a tremendous growth platform as we focus on reenergizing the agent network and delivering the right products to the most compelling geographic markets."
Wholesale Plans
Revenues for the Wholesale Plans Division in the fiscal 2010 first quarter increased 8% to $5.2 million, or 39% of total revenue, versus $4.8 million in the prior-year period. Revenue growth was attributable primarily to the addition of new accounts as well as improved acceptance rates with existing partners. While gross margin declined 18% on a year-over-year basis due to higher involuntary unemployment expenses, this waiver expense on a sequential basis improved by $0.4 million as the number of new waivers filed continues to moderate and customers reach their maximum allowed benefits under the program. As a result, gross margin nearly doubled on a sequential basis from the fiscal 2009 fourth quarter to $1.2 million in the recent period. Operating income in the fiscal 2010 first quarter was $0.7 million versus $1.0 million in the prior-year period
Retail Plans
Revenues for the Retail Plans Division in the fiscal 2010 first quarter increased to $3.9 million, or 29% of total revenues, prior to inter-company eliminations, versus $2.1 million in the prior-year period. The increase was attributable primarily to the acquired Access Plans USA operations which expanded the Company's discount health membership offerings
Operating income for the division in the fiscal 2010 first quarter increased to $0.9 million compared to $0.5 million in the prior-year period. During the period, results benefited from a solid contribution from fees related to our involvement with a national Rx plan. As previously announced, the Company signed two new contracts in the first quarter which are both now active and expected to contribute meaningfully to segment revenue in the second half of fiscal 2010
Insurance Marketing
Insurance Marketing Division revenues in the fiscal 2010 first quarter were $5.5 million, or 41% of total revenues, versus $5.8 million in the fourth quarter of fiscal 2009. The sequential decline was due to seasonality as well as the discontinuation of a carrier's plan. Operating income was $0.3 million versus $0.4 million in the fiscal 2009 fourth quarter. The Insurance Marketing Division comprises the America's Health Care Plans (AHCP) operations acquired as part of the Access Plans USA acquisition. As a result, there are no comparable results from the prior-year period
Other Matters
Cash and cash equivalents and restricted cash totaled $5.7 million at December 31, 2009 versus $4.6 million at September 30, 2009. Stockholders' equity reached $11.9 million at December 31, 2009
About Access Plans, Inc
Access Plans, Inc. (OTCBB: APNC) is a leading membership and insurance marketing company with three complementary distribution channels offering multiple opportunities for growth. The Wholesale Plans Division specializes in turnkey, private label membership benefit plans offered through retail outlets including rent-to-own centers. The Retail Plans Division markets healthcare-related discount products and services to consumers through third-party marketers. Program components in both membership plan divisions range from medical, dental and pharmacy discounts to grocery, restaurant, automotive, travel and other consumer discounts. The Insurance Marketing Division comprises America's Health Care Plans (AHCP), one of the nation's largest independent agent networks for distributing individual major medical health insurance. For more information, please visit: www.accessplans.com |
| 2065 | | APNC | | 07-Feb-2010 07:08 PM | |
Access Plans Reports Fiscal 2010 First Quarter Results Operating Income up 35%; EPS of $0.04 NORMAN, OK--(Marketwire - February 3, 2010) - Access Plans, Inc. (OTCBB: APNC), a leading membership and insurance marketing company, today announced financial results for its fiscal 2010 first quarter ended December 31, 2009. The results reflect the Company's acquisition of Access Plans USA, completed on April 1, 2009, including a higher share count resulting from the transaction. Revenues for the fiscal 2010 first quarter increased to $13.3 million compared to $5.7 million in the prior-year period primarily as a result of the acquired Access Plans USA operations. Operating income increased 35% to $1.6 million versus $1.2 million in the prior-year period, which reflected the impact of the acquired Access Plans USA operations, and improved sequential profitability in the Company's Wholesale Plans Division. Despite the improvement in operating income, net income for the period was $0.9 million versus $1.0 million last year. The decline related to an increase in the Company's tax rate to 39.5% in the fiscal 2010 first quarter versus 34% in the prior-year period as well as to a deferred tax benefit recognized last year. On a per share basis, earnings were $0.04 versus $0.06 per diluted share in last year's first quarter which reflected the increased number of shares outstanding as well as the deferred tax benefit. As a result of the Access Plans USA acquisition in April 2009, the Company had 20.5 million weighted average shares outstanding at December 31, 2009, versus 14.8 million shares at the end of last year's first quarter. The share count at the end of the fiscal 2010 first quarter also reflects the Company's repurchase of approximately 1.9 million shares during the period as a condition of a legal settlement. "With most of the immediate cost savings realized from the acquired Access Plans operations, we shifted our emphasis in the quarter to positioning our businesses for sustainable, long-term growth," commented Danny Wright, Chief Executive Officer. "Our Wholesale Plans Division has benefited from moderating unemployment and offers us significant opportunity to leverage our installed customer base and introduce new product and service offerings, including individual healthcare programs. Within our Retail Plans Division, recent wins and solid execution are expected to drive top-line performance while an anticipated reduction in network costs resulting from a change in provider should enhance segment profitability. Lastly, the acquired Insurance Marketing Division, which has reached profitability under our ownership, offers us a tremendous growth platform as we focus on reenergizing the agent network and delivering the right products to the most compelling geographic markets." Wholesale Plans Revenues for the Wholesale Plans Division in the fiscal 2010 first quarter increased 8% to $5.2 million, or 39% of total revenue, versus $4.8 million in the prior-year period. Revenue growth was attributable primarily to the addition of new accounts as well as improved acceptance rates with existing partners. While gross margin declined 18% on a year-over-year basis due to higher involuntary unemployment expenses, this waiver expense on a sequential basis improved by $0.4 million as the number of new waivers filed continues to moderate and customers reach their maximum allowed benefits under the program. As a result, gross margin nearly doubled on a sequential basis from the fiscal 2009 fourth quarter to $1.2 million in the recent period. Operating income in the fiscal 2010 first quarter was $0.7 million versus $1.0 million in the prior-year period. Retail Plans Revenues for the Retail Plans Division in the fiscal 2010 first quarter increased to $3.9 million, or 29% of total revenues, prior to inter-company eliminations, versus $2.1 million in the prior-year period. The increase was attributable primarily to the acquired Access Plans USA operations which expanded the Company's discount health membership offerings. Operating income for the division in the fiscal 2010 first quarter increased to $0.9 million compared to $0.5 million in the prior-year period. During the period, results benefited from a solid contribution from fees related to our involvement with a national Rx plan. As previously announced, the Company signed two new contracts in the first quarter which are both now active and expected to contribute meaningfully to segment revenue in the second half of fiscal 2010. Insurance Marketing Insurance Marketing Division revenues in the fiscal 2010 first quarter were $5.5 million, or 41% of total revenues, versus $5.8 million in the fourth quarter of fiscal 2009. The sequential decline was due to seasonality as well as the discontinuation of a carrier's plan. Operating income was $0.3 million versus $0.4 million in the fiscal 2009 fourth quarter. The Insurance Marketing Division comprises the America's Health Care Plans (AHCP) operations acquired as part of the Access Plans USA acquisition. As a result, there are no comparable results from the prior-year period. Other Matters Cash and cash equivalents and restricted cash totaled $5.7 million at December 31, 2009 versus $4.6 million at September 30, 2009. Stockholders' equity reached $11.9 million at December 31, 2009. Conference Call and Webcast Information Access Plans will host a conference call today, February 3, at 10:00 a.m. ET. To access the conference call, please dial 877-869-3847 (U.S.) or 201-689-8261 (international) approximately 10 minutes prior to the start of the call. The conference call will also be available via live webcast under the Investor Relations section of the Company's website, www.accessplans.com, or click here to access the webcast directly. If you are unable to listen to the live call, a replay will be available through February 10, 2010, and can be accessed by dialing 877-660-6853 (U.S.) or 201-612-7415 (international). Callers will be prompted for replay account number 355# followed by conference ID number 343587#. An archived version of the webcast will also be available under the Investor Relations section of the Company's website, www.accessplans.com. Operating Income up 35%; EPS of $0.04 Access Plans, Inc. (OTCBB: APNC) is a leading membership and insurance marketing company with three complementary distribution channels offering multiple opportunities for growth. The Wholesale Plans Division specializes in turnkey, private label membership benefit plans offered through retail outlets including rent-to-own centers. The Retail Plans Division markets healthcare-related discount products and services to consumers through third-party marketers. Program components in both membership plan divisions range from medical, dental and pharmacy discounts to grocery, restaurant, automotive, travel and other consumer discounts. The Insurance Marketing Division comprises America's Health Care Plans (AHCP), one of the nation's largest independent agent networks for distributing individual major medical health insurance. For more information, please visit: www.accessplans.com. Safe Harbor Statement under the Private Securities Litigation Reform Act: This press release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, Section 27A of the Securities Act of 1933, as amended and pursuant to the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may relate to financial results and plans for future business activities, and are thus prospective. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are competitive pressures, loss of significant customers, the mix of revenue, changes in pricing policies, delays in revenue recognition, lower-than-expected demand for the Company's products and services, general economic conditions, and the risk factors detailed from time to time in the Company's periodic reports and registration statements filed with the Securities and Exchange Commission. Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such speak only as of the date made |
| 2064 | | APNC | | 07-Feb-2010 07:05 PM | |
Access Plans Reports Fiscal 2010 First Quarter Results Operating Income up 35%; EPS of $0.04 http://www.marketwire.com/press-release/Access-Plans-Reports-Fiscal-2010-First-Quarter-Results-1111349.htm NORMAN, OK--(Marketwire - February 3, 2010) - Access Plans, Inc. (OTCBB: APNC), a leading membership and insurance marketing company, today announced financial results for its fiscal 2010 first quarter ended December 31, 2009. The results reflect the Company's acquisition of Access Plans USA, completed on April 1, 2009, including a higher share count resulting from the transaction. Revenues for the fiscal 2010 first quarter increased to $13.3 million compared to $5.7 million in the prior-year period primarily as a result of the acquired Access Plans USA operations. Operating income increased 35% to $1.6 million versus $1.2 million in the prior-year period, which reflected the impact of the acquired Access Plans USA operations, and improved sequential profitability in the Company's Wholesale Plans Division. Despite the improvement in operating income, net income for the period was $0.9 million versus $1.0 million last year. The decline related to an increase in the Company's tax rate to 39.5% in the fiscal 2010 first quarter versus 34% in the prior-year period as well as to a deferred tax benefit recognized last year. On a per share basis, earnings were $0.04 versus $0.06 per diluted share in last year's first quarter which reflected the increased number of shares outstanding as well as the deferred tax benefit. As a result of the Access Plans USA acquisition in April 2009, the Company had 20.5 million weighted average shares outstanding at December 31, 2009, versus 14.8 million shares at the end of last year's first quarter. The share count at the end of the fiscal 2010 first quarter also reflects the Company's repurchase of approximately 1.9 million shares during the period as a condition of a legal settlement. "With most of the immediate cost savings realized from the acquired Access Plans operations, we shifted our emphasis in the quarter to positioning our businesses for sustainable, long-term growth," commented Danny Wright, Chief Executive Officer. "Our Wholesale Plans Division has benefited from moderating unemployment and offers us significant opportunity to leverage our installed customer base and introduce new product and service offerings, including individual healthcare programs. Within our Retail Plans Division, recent wins and solid execution are expected to drive top-line performance while an anticipated reduction in network costs resulting from a change in provider should enhance segment profitability. Lastly, the acquired Insurance Marketing Division, which has reached profitability under our ownership, offers us a tremendous growth platform as we focus on reenergizing the agent network and delivering the right products to the most compelling geographic markets." Wholesale Plans Revenues for the Wholesale Plans Division in the fiscal 2010 first quarter increased 8% to $5.2 million, or 39% of total revenue, versus $4.8 million in the prior-year period. Revenue growth was attributable primarily to the addition of new accounts as well as improved acceptance rates with existing partners. While gross margin declined 18% on a year-over-year basis due to higher involuntary unemployment expenses, this waiver expense on a sequential basis improved by $0.4 million as the number of new waivers filed continues to moderate and customers reach their maximum allowed benefits under the program. As a result, gross margin nearly doubled on a sequential basis from the fiscal 2009 fourth quarter to $1.2 million in the recent period. Operating income in the fiscal 2010 first quarter was $0.7 million versus $1.0 million in the prior-year period. Retail Plans Revenues for the Retail Plans Division in the fiscal 2010 first quarter increased to $3.9 million, or 29% of total revenues, prior to inter-company eliminations, versus $2.1 million in the prior-year period. The increase was attributable primarily to the acquired Access Plans USA operations which expanded the Company's discount health membership offerings. Operating income for the division in the fiscal 2010 first quarter increased to $0.9 million compared to $0.5 million in the prior-year period. During the period, results benefited from a solid contribution from fees related to our involvement with a national Rx plan. As previously announced, the Company signed two new contracts in the first quarter which are both now active and expected to contribute meaningfully to segment revenue in the second half of fiscal 2010. Insurance Marketing Insurance Marketing Division revenues in the fiscal 2010 first quarter were $5.5 million, or 41% of total revenues, versus $5.8 million in the fourth quarter of fiscal 2009. The sequential decline was due to seasonality as well as the discontinuation of a carrier's plan. Operating income was $0.3 million versus $0.4 million in the fiscal 2009 fourth quarter. The Insurance Marketing Division comprises the America's Health Care Plans (AHCP) operations acquired as part of the Access Plans USA acquisition. As a result, there are no comparable results from the prior-year period. Other Matters Cash and cash equivalents and restricted cash totaled $5.7 million at December 31, 2009 versus $4.6 million at September 30, 2009. Stockholders' equity reached $11.9 million at December 31, 2009. Conference Call and Webcast Information Access Plans will host a conference call today, February 3, at 10:00 a.m. ET. To access the conference call, please dial 877-869-3847 (U.S.) or 201-689-8261 (international) approximately 10 minutes prior to the start of the call. The conference call will also be available via live webcast under the Investor Relations section of the Company's website, www.accessplans.com, or click here to access the webcast directly. If you are unable to listen to the live call, a replay will be available through February 10, 2010, and can be accessed by dialing 877-660-6853 (U.S.) or 201-612-7415 (international). Callers will be prompted for replay account number 355# followed by conference ID number 343587#. An archived version of the webcast will also be available under the Investor Relations section of the Company's website, www.accessplans.com. About Access Plans, Inc. Access Plans, Inc. (OTCBB: APNC) is a leading membership and insurance marketing company with three complementary distribution channels offering multiple opportunities for growth. The Wholesale Plans Division specializes in turnkey, private label membership benefit plans offered through retail outlets including rent-to-own centers. The Retail Plans Division markets healthcare-related discount products and services to consumers through third-party marketers. Program components in both membership plan divisions range from medical, dental and pharmacy discounts to grocery, restaurant, automotive, travel and other consumer discounts. The Insurance Marketing Division comprises America's Health Care Plans (AHCP), one of the nation's largest independent agent networks for distributing individual major medical health insurance. For more information, please visit: www.accessplans.com. Safe Harbor Statement under the Private Securities Litigation Reform Act: This press release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, Section 27A of the Securities Act of 1933, as amended and pursuant to the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may relate to financial results and plans for future business activities, and are thus prospective. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are competitive pressures, loss of significant customers, the mix of revenue, changes in pricing policies, delays in revenue recognition, lower-than-expected demand for the Company's products and services, general economic conditions, and the risk factors detailed from time to time in the Company's periodic reports and registration statements filed with the Securities and Exchange Commission. Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such speak only as of the date made. Access Plans, Inc.
Consolidated Statements of Operations
(Unaudited and dollars in thousands, except earnings per share)
For the Three Months Ended
December 31,
----------------------------------
2009 2008 Change
---------- ---------- ----------
Net revenues $ 13,303 $ 5,669 $ 7,634
Direct costs 8,800 3,088 5,712
---------- ---------- ----------
Gross profit 4,503 2,581 1,922
Operating expenses 2,868 1,354 1,514
---------- ---------- ----------
Operating income 1,635 1,227 408
Net other income (expense) 56 (43) 99
Provision for income taxes, net 795 229 566
---------- ---------- ----------
Net income $ 896 $ 955 $ (59)
========== ========== ==========
Basic earnings per share:
Earnings per share $ 0.04 $ 0.06 $ (0.02)
========== ========== ==========
Weighted average shares outstanding 20,301,867 14,833,127 5,468,740
========== ========== ==========
Diluted earnings per share:
Earnings per share $ 0.04 $ 0.06 $ (0.02)
========== ========== ==========
Weighted average shares outstanding 20,459,674 14,838,649 5,621,025
========== ========== ==========
For the Three Months Ended
December 31,
----------------------------------
2009 2008 Change
---------- ---------- ----------
Segment net revenues
Wholesale Plans $ 5,138 $ 4,761 $ 377
Retail Plans 3,881 2,087 1,794
Insurance Marketing 5,475 - 5,475
Eliminations (1,191) (1,179) (12)
---------- ---------- ----------
$ 13,303 $ 5,669 $ 7,634
========== ========== ==========
For the Three Months Ended
December 31,
----------------------------------
2009 2008 Change
---------- ---------- ----------
Segment operating income
Wholesale Plans $ 706 $ 984 $ (278)
Retail Plans 935 479 456
Insurance Marketing 256 - 256
Corporate (262) (236) (26)
---------- ---------- ----------
$ 1,635 $ 1,227 $ 408
========== ========== ==========
Access Plans, Inc.
Condensed Consolidated Balance Sheets
(Unaudited and dollars in thousands)
September 30,
2009
(Derived
December 31, From
2009 Audited
(Unaudited) Statements)
---------- ----------
Total current assets $ 16,040 $ 15,270
Total assets $ 25,738 $ 25,973
Total current and long term liabilities $ 13,847 $ 14,480
Total stockholders' equity $ 11,891 $ 11,494
Total liabilities and stockholders' equity $ 25,738 $ 25,973
|
| 2059 | | APNC | | 29-Jan-2010 06:05 PM | |
NORMAN, OK--(Marketwire - 01/29/10) - Access Plans, Inc. (OTC.BB:APNC - News), a leading membership and insurance marketing company, today announced that it will host a conference call to discuss the Company's results for fiscal 2010 first quarter ended December 31, 2009. The conference call is scheduled for Wednesday, February 3, 2010 at 10:00 a.m. Eastern Time. Access Plans will release its fiscal 2010 first quarter financial results on Wednesday morning prior to the call. To access the conference call, please dial 877-869-3847 (U.S.) or 201-689-8261 (international) approximately 10 minutes prior to the start of the call. The conference call will also be available via live webcast under the Investor Relations section of the Company's website, www.accessplans.com. If you are unable to listen to the live call, a replay will be available through February 10, 2010, and can be accessed by dialing 877-660-6853 (U.S.) or 201-612-7415 (international). Callers will be prompted for replay account number 355# followed by conference ID number 343587#. An archived version of the webcast will also be available under the Investor Relations section of the Company's website, www.accessplans.com. About Access Plans, Inc. Access Plans, Inc. (OTC.BB:APNC - News) is a leading membership and insurance marketing company with three complementary distribution channels offering multiple opportunities for growth. The Wholesale Plans Division specializes in turnkey, private label membership benefit plans offered through retail outlets including rent-to-own centers. The Retail Plans Division markets healthcare-related discount products and services to consumers through third-party marketers. Program components in both membership plan divisions range from medical, dental and pharmacy discounts to grocery, restaurant, automotive, travel and other consumer discounts. The Insurance Marketing Division comprises America's Health Care Plans (AHCP), one of the nation's largest independent agent networks for distributing individual major medical health insurance. For more information, please visit: www.accessplans.com |
| 2049 | | APNC | | 21-Jan-2010 12:25 PM | |
We are actively pursuing opportunities to cross-sell our expanded suite of services, particularly our membership and insurance offerings geared towards the individual healthcare market and are currently negotiating a significant reduction in network costs." This will be the real revenue and margin growth in first half of 2010. The possibility of offering their newly acquired traditional health insurance in the 4,800 rent to own type stores has some upside. That is the lowest magin division with $9.4m in direct costs. But the area with most immediate potential is the discount card services. The insurance marketing division offer the agents (this is off website) three proprietary products, HealthCard Now, AmeriValue Plan and AHCP Dental. This is where the cross-selling comes in. The original Alliance HealthCard was producing higher margins with the set of medical network providers they had contracted, which were offering the same type of discount plans. This line comes from 10k: The acquisition Access Plans USA Retail Plans operating segment on April 1, 2009 which resulted in an increase of $2.3 million; So any eliminating and combining of networks or simply negotiating lower rates could have a nice impact on bottom line for fiscal 1st 2010 and beyond. |
| 2046 | | APNC | | 20-Jan-2010 12:25 PM | |
Important to note this symbol change is not a share split of any kind. The share structure is staying the same. It was a move to reincorporate to Oklahoma from Georgia. Also the buyback of shares from the litigation was covered by cash on hand which they have plenty of. This is a little Q & A from the 14C filed | Q. | | What will our shareholders receive in the Reincorporation Merger? | | | | A: | | Upon completion of the Reincorporation Merger, our shareholders will be entitled to receive one common stock share of Access Plans, Inc. for each share of our common stock. | | | | | | In addition, Access Plans, Inc. will assume our outstanding stock options and warrants exercisable or to become exercisable for the purchase shares of our common stock immediately before the Reincorporation Merger. These assumed stock options and warrants will become exercisable to purchase common stock shares of Access Plans, Inc. and will generally have the same terms and conditions, including vesting provisions, as were applicable under the terms of the options and warrants and our stock option plan. | | | | Q. | | Will Access Plans, Inc. shareholders be able to trade the Access Plans, Inc. common stock that they receive in the Reincorporation Merger? | | | | A: | | Yes, the shares of Access Plans, Inc. common stock you receive in the Reincorporation Merger will be quoted on the OTC Bulletin Board under the symbol “ACPL.” | | | | Q. | | What are the United States federal income tax consequences to me because of the Reincorporation Merger? | | | | A: | | It is expected that, for United States federal income tax purposes, the merger will be treated as a reorganization and you and our other shareholders will not recognize any gain or loss. See “The Reincorporation Merger — Federal Income Tax Consequences of the Merger.” | | | | Q. | | When do you expect to complete the Reincorporation Merger? | | | | A: | | The merger is subject to very limited conditions as provided in the Merger Agreement, none of which are expected to prevent completion of the Reincorporation Merger. We expect to complete the merger shortly after the majority shareholder approval is obtained by execution of the shareholder consents, which is anticipated to occur on or following December 1, 2009, but not earlier than the 21st business day following distribution of this information statement to our shareholders. | | | | Q. | | What shareholder approval is required to approve the Reincorporation Merger? | | | | A: | | We cannot complete the merger unless, among other things, shareholders owning more than 50% of our outstanding common stock shares approve and adopt the Merger Agreement and the Reincorporation Merger. As of the date of this information statement, seven of our shareholders, who collectively control approximately 53.2% of our outstanding common stock, have advised that they intend to execute shareholder consents approving and adopting the Merger Agreement and the Reincorporation Merger. | | | | | | The distribution of this information statement to you and our other common stock shareholders provides notice that seven shareholders who collectively control approximately 53.2% of the outstanding shares intend to execute consents that will result in the approval of the Merger Agreement and the Reincorporation Merger. See “The Reincorporation Merger — Required Affirmative Vote.” | | | | Q. | | What does our board of directors recommend? | | | | A: | | After careful consideration of numerous factors, our board of directors unanimously determined that the proposed Reincorporation Merger is desirable and in the best interests of our shareholders and unanimously recommends shareholder approval and adoption of the Merger Agreement and the Reincorporation Merger. |
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| 2022 | | APNC | | 14-Jan-2010 01:54 AM | |
You should ask the company if management might want to conduct a live interview with the GeoTeam. |
| 2011 | | APNC | | 13-Jan-2010 05:00 AM | |
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| 1985 | | APNC | | 07-Jan-2010 11:07 PM | |
Thanks for the thorough run down. I will have to add this information to its GeoProfile |
| 1967 | | APNC | | 05-Jan-2010 09:43 AM | |
BUSINESS OVERVIEW
We are a leading provider of consumer membership plans, healthcare savings membership plans and a leading marketer for individual major medical health insurance products. In partnership with our wholesale and retail clients, we design and build membership plans that contain benefits aggregated from our vendors that appeal to our clients’ customers. Our major medical health insurance products are offered and sold through a national network of independent agents. Our current operations are organized under three business divisions.
Wholesale Plans Our Wholesale Plans Division provides our clients customized membership marketing plans that leverage their brand name, customer relationships and typically their payment mechanism, plus offer benefits that appeal to their customers. The value provided by our plans to our clients, includes increased customer attraction and retention, plus incremental fee income with limited risk or capital cost. By implementing these plans repetitively, our management team is uniquely qualified to efficiently assist our clients in achieving their goals, while avoiding operational and marketing pitfalls.
This division currently delivers membership plans to over 210 companies, including retail purchase dealers, insurance companies, financial institutions, retail merchants, and consumer finance companies. At September 30, 2009, our wholesale plans were offered at approximately 4,800 locations. Of the locations at September 30, 2009, 2,850 locations were Rent-A-Center company owned locations operated under their brand. Rent-A-Center, Inc., a Nasdaq (symbol RCII) traded company, is the largest rent-to-own company in the United States, Puerto Rico and Canada. Our revenue attributable to the contractual arrangements with Rent-A-Center was approximately $11.6 million, (30% of total revenue) during the fiscal year ended September 30, 2009, compared to $11.6 million, (55% of total revenue) during the fiscal year ended September 30, 2008. Total revenue for our Wholesale Plans’ division accounted for $19.5 million, (50% of total revenue) and $18.1 million, (86% of total revenue) during the fiscal years ended September 30, 2009 and September 30, 2008, respectively. Our growth in wholesale plans revenue is dependent in significant part on an increase in the number of rent-to-own locations at which these plans are offered and the selling efforts at those locations. Although our revenue from wholesale plans continues to grow, we expect this revenue source to decline as a percentage of total revenues as we diversify our revenue sources. Although we have long-term contracts with Rent-A-Center and other rent-to-own companies, the loss of these contractual arrangements, especially with Rent-A-Center would have a significant adverse impact on our revenues, profitability and our ability to negotiate discounts with our vendors.
Retail Plans Our Retail Plans’ offerings include healthcare savings plans and association memberships that provide insurance features. These healthcare savings plans are not insurance, but allow members access to a variety of healthcare networks to obtain discounts from usual and customary fees. We offer wellness programs, prescription drug and dental discount programs, medical discount cards, and limited benefit insured plans. Our members pay providers the discounted rate at the time services are provided to them. These plans are designed to serve the markets in which individuals either have no health insurance or limited healthcare benefits. Our revenue attributable to retail plans was approximately $12.8 million, (33% of total revenue) and $7.3 million, (35% of total revenue) during the fiscal years ended September 30, 2009 and 2008, respectively.
This division is comprised of the membership business of Alliance Healthcard, The Capella Group, Inc. (“Capella”) and Protective Marketing Enterprises, Inc. (“PME”). Capella and PME are subsidiaries of Access Plans USA which we acquired on April 1, 2009. PME also owns and manages proprietary networks of dental and vision providers that provide services at negotiated rates to certain members of our plans and other plans that have contracted with us for access to our networks. Through our healthcare savings plans, we believe customers save an average of 35% on their medical costs and between 10% and 50% on services through other discount medical providers. These discounts for services that do not require the use of a medical PPO are more difficult to track because our members pay a discounted rate at point of service. Operationally, this division utilizes two platforms: the “Affinity” system that is operated under a third party license to PME and the “Alliance” system that is a proprietary system we developed. These systems are utilized primarily for the following functions:
• Maintaining member eligibility
• Generate periodic reporting to contracted third party networks and other vendors
• Paying commissions
• Maintaining a database of providers and provider locator services
• Drafting member accounts and tracking cash receipts In addition to our wholesale and retail offerings, certain clients may choose to include our benefits with their own membership plan offering. In these instances, the client bears the cost of marketing and fulfillment, and we provide customer service. These offerings are designed to enhance our clients’ existing offering and improve their product value relative to their competition and in some instances to improve their customer retention. While these plans provide lower periodic member fees, we incur limited implementation costs and receive higher revenue participation rates. Our additional distribution channels also include network marketing representatives, independent agents and consumer direct sales call centers. We also market to internet portals and financial institutions. In order to deliver our membership offerings, we contract with a number of different vendors to provide various products and services to our members. The majority of these vendor relationships involve the vendor providing our members access to their network or providers or their locations and our members obtain a discount at the time of service. We have vendor relationships with medical networks, automotive service companies, insurance companies, travel related entities and food and entertainment consumer discount providers. Our vendors value the relationship with us because we deliver many customers to them without incremental capital cost or risk on their part and these relationships are governed by multi-year agreements and aggregated volume scaling. Insurance Marketing Our Insurance Marketing division offers and sells individual major medical health insurance products and related benefit plans, including specialty insurance products, primarily through a national network of independent agents. America’s Healthcare/Rx Plan Agency (AHCP) is the centerpiece of the Insurance Marketing division. AHCP distributes major medical, short term medical, critical illness and related health insurance products to small businesses, self-employed and other individuals and families through a network of approximately 5,800 independent agents. The primary insurance carriers that we represent include: Golden Rule Insurance Company, World Insurance Company, American Community Insurance Company, Aetna and Colorado Bankers. We support our agents and recruit new agents via access to proprietary and private label products, leads for new sales, commission advance programs, incentive programs, including an annual convention, web-based technology, and back-office support. More specifically, our agent support and recruiting tools include:
• e-Agent Center — provides agents with access to real-time rate quoting, on-line licensing and contracting, insurance application submission, access to brochures and other marketing materials.
• Lead Distribution — we utilize an electronic system to connect agents with an on-line lead ordering and delivery system. Leads are also provided in certain situations as incentives to sell certain policies.
• Incentive programs — to assist with agent motivation and recruitment, we provide paid annual convention trips and periodic sales contests.
• Agent advances — with most of the major medical products we represent, agents are entitled to from 3 to 9 months of advance commissions either funded by AHCP or our insurance carrier partner. Our ability to grow this segment will depend, in part, on our continued access to working capital to fund these advances.
• Home office support — this includes agent and product training, marketing materials and agent communication. The training programs include both on-site and in-house schools, DVDs and webcasts covering product knowledge and sales techniques as well as market conduct and regulatory compliance issues. In addition, our support includes development and distribution of a wide variety of marketing materials including flyers, brochures, email blasts and letters. We also promote and inform our agents on important news and updates via a weekly newsletter.
Our strategy for the Insurance Marketing division is to:
• continue working with insurance carriers in the development of proprietary products for our agents to represent;
• expand the number of carriers that we represent for more product choice for customers and expanded geographic representation; and
• enhance our e-agent platforms in order to better serve our existing agents and improve attraction to new agents to sell plans we represent. We generate most of our revenue in this segment from commissions paid to us by health insurance carriers whose health insurance policies we have sold. Our revenue attributable to commission and fee revenue was approximately $11.1 million and represented 97% of our total revenue in this segment for the fiscal year ended September 30, 2009. The remainder of our revenue is primarily attributable to interest earned on commissions advanced to our agents. Operating results of the Insurance Marketing division are only for the six months ended September 30, 2009 following completion of our acquisition of Access Plans USA on April 1, 2009. |
Risk Analysis
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