NEW YORK, Dec. 23, 2002 (PRIMEZONE) -- Investrend analyst Stephanie Loiacono, CFA has reiterated a rating of "Speculative Buy" for Rockport Healthcare, Inc. (OTCBB:RPHL) and assigned it a 12-month target of $0.68.
The full report, as well as Rockport's InvestorPower(TM) page, is available at http://www.investrend.com.
"Fundamentals improved significantly in the first half of fiscal 2003," said Loiacano. "RHG is clearly gaining traction, and we expect the trend of expanding revenues and earnings to continue as the year progresses.
"Looking out into fiscal 2004 and 2005, we expect to see solid revenue growth and continued operating leverage, though at a reduced pace from our original projections. We reiterate our 'Speculative Buy' rating on Rockport but reduce our 12-month price target to $0.68 from $0.92 on a fully diluted basis.
"Based in Houston, Texas, Rockport Healthcare manages a healthcare network dedicated to only one product line -- a PPO network for workers' compensation medical costs. RHG's services are designed to reduce workers' compensation medical costs for employers and insurance companies across the country. RHG does this by establishing, managing and operating a network of healthcare providers that treat work-related injuries and illnesses at a discount.
"Rockport reported record revenues and earnings for its second fiscal quarter and six-month periods, ended September 30, 2002. Revenues increased 144% over last year's comparable quarter to $935,182. Net income was $90,241 compared to a net loss of $359,574 for the 2001 quarter," she concluded.
Stephanie Loiacono, CFA, has 18 years of experience in investments and commercial banking. Her investment expertise includes fixed income analysis, bond trading, private placement work and equity analysis. She also has entrepreneurial experience as chief investment officer for a start-up investment management company and as co-founder of a venture capital fund. Ms. Loiacono served in a leadership role supporting the CEO of a Fortune 500 company and has substantial experience in project management, business development and fundraising.
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