NASHVILLE, Tenn., April 25 /PRNewswire/ -- American Esoteric Laboratories, Inc. (AEL), a privately held full service provider of clinical reference laboratory services, today announced that revenues for the quarter ending March 31, 2006 were $17.9 million, representing a 26% increase over the same period in 2005. Revenue growth excluding the effect of acquisition activity was 15% on a 12.2% increase in requisitions.
Chairman and CEO Brian C. Carr stated, “The growth of our sales force, combined with our expansion into eight different markets, has helped to produce this record level of revenue and testing volume. We remain extremely pleased with AEL’s performance and view these results as a validation of our strategic focus on a regional model supported by national class esoteric capabilities.”
Carr added, “In addition to our organic growth efforts, we continue to selectively seek out high quality acquisition candidates that can help us achieve density in existing markets, or help us to establish the needed scale in new markets. During the fourth quarter of 2004, we acquired Memphis Pathology Laboratory (MPL) in Memphis, TN, and during 2005, completed a successful integration with this leading regional laboratory. In the first quarter of 2006, we acquired Physician’s Medical Laboratory (PML) located in Morristown, TN, furthering our footprint in the Tennessee market and surrounding areas. Using the strength of our balance sheet and management group, we anticipate announcing additional transactions in 2006.”
AEL’s COO and President James E. Billington added, “We continue to see very strong volume growth in our Dallas/Ft. Worth based esoteric lab resulting from growth in our regional labs, as well as focusing on hospital and specialist physician directed testing in Texas and the surrounding markets.”
About American Esoteric Laboratories, Inc.
American Esoteric Laboratories, Inc. (AEL) is a company designed to provide industry leading turn-around time, informatics, personalized customer service and other qualitative services in clinical reference testing for healthcare professionals. The company supports its routine regional laboratory network by also offering a wide menu of clinical esoteric tests that provide physicians with the clinical information required to complete a diagnosis, establish a prognosis, or to choose and monitor a therapeutic regimen. AEL uses advanced information technology solutions to accelerate and automate electronic assay ordering and results reporting for its customers. For more information, please visit our website at http://www.ael.com .
Press Contact: Brian C. Carr AEL Chairman & CEO (615) 627-3252 bcarr@ael.com James E. Billington AEL President & COO (214) 239-1542 jbillington@ael.com
American Esoteric Laboratories, Inc.
CONTACT: Brian C. Carr, Chairman & CEO, +1-615-627-3252, or bcarr@ael.com, or James E. Billington, President & COO, +1-214-239-1542, orjbillington@ael.com , both of American Esoteric Laboratories, Inc.
Web site: http://www.ael.com/
