Alisa Steinberg (Media)
Paul A. Brown, M.D Stephen D. Axelrod, CFA
Stephen J. Hansbrough
HearUSA,
Inc.
Wolfe Axelrod
Weinberger Assoc. LLC
(561) 478-8770
Tel. (212) 370-4500 Fax (212) 370-4505
HEARUSA
REVENUES INCREASE 17% IN SECOND QUARTER
West Palm Beach, Florida, July 10, 2006 – HearUSA,
Inc. (AMEX: EAR) today reported that revenue for the second quarter of fiscal 2006
increased by approximately 17 percent to approximately $22.2 million from approximately
$19.1 million in the second quarter a year earlier. The
company also announced that toward the end of the second quarter the company closed on
five acquisitions with total trailing twelve month revenues of approximately $6.0 million.
Mr. Stephen J. Hansbrough,
President and CEO stated, “We are pleased that, with this quarter’s revenues, we
continue to be on target.” The company
reaffirmed its previously announced targets of $90 million in revenues for 2006 and 12% of
income from operations over the longer term.
About
HearUSA
HearUSA provides hearing
care to patients whose health insurance and managed care organizations have contracted
with the company for such care and to retail “self-pay” patients. HearUSA
Centers, all of which are company owned, are located in California, Florida, New York, New
Jersey, Massachusetts, Ohio, Michigan, and Missouri and the province of Ontario Canada. In addition, the company has a network of 1,400
affiliated audiologists in 49 states. For
further information, click on “investor information” at HearUSA’s website www.hearusa.com.
A live webcast of the
company presentation at the C.E. Unterberg, Towbin Emerging Growth Opportunities Investor
Conference on Tuesday, July 11, 2006 at 11:40 a.m. EDT can be accessed through the
following link: http://www.wsw.com/webcast/ceut4/ear/
one hour after the presentation and will be archived and available for 90 days following
the conference.
This press release contains forward-looking
statements within the meaning of the Securities Litigation Reform Act of 1995, including
those relating to the company’s reaffirmation of previously announced guidance for
2006 and for income from operations over the longer term.
These statements involve certain risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include such
factors as market demand for the Company’s goods and services; successful
implementation of the Company’s acquisition program; changes in the pricing
environment; general economic conditions in those geographic regions where the
Company’s centers are located; the impact of competitive products; and other risks
and uncertainties described in the Company’s filings with the Securities and Exchange
Commission, including the Company’s annual report on Form 10-K for the 2005 fiscal
year.