Arcadia sustains loss, sees revenue rise

November 9, 2007

Arcadia Resources Inc., the Detroit-area company that last month announced it would move its headquarters to Indianapolis, reported a $9.2-million loss in its second quarter ended Sept. 30.

The parent of Arcadia HealthCare had a $735,619 loss in the same period last year.

Continuing operations accounted for $4.5 million of the most recent loss, while the company saw another $4.6-million hit from discontinued operations.

Revenue of $38.7 million was a $400,000 improvement over the same quarter last year, driven by growth in the company's in-home health services unit. Its retailer and employer services and the durable medical equipment segments essentially remained flat.
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