ReadiCare Posts $1.2-Million Loss for Fiscal ’86

Citing continued operating losses, fourth-quarter write-offs and provisions for discontinued operations, ReadiCare Inc. on Monday reported a net loss of $1.2 million for its fiscal year ended Feb. 28. The 1986 net loss compares with a net loss of $493,799 for the previous year.

Revenues increased 13% to $29.3 million, from 1985’s $25.8 million.

ReadiCare officials did not disclose results for the fourth quarter and would not return phone calls Monday. In a prepared statement, ReadiCare said the 1986 results include a $737,000 loss stemming from fourth-quarter write-offs and reserves for closed facilities.

The Newport Beach operator of emergency walk-in medical clinics, which went public in 1983, has yet to turn a yearly profit. ReadiCare’s biggest annual loss was in 1984, when it finished the year nearly $1.8 million in the red.