ALLIANCE HEALTHCARD INC

CIK:0001087216|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended		6 Months Ended
	Mar. 31, 2012	Mar. 31, 2011	Mar. 31, 2012	Mar. 31, 2011
Condensed Consolidated Statements of Operations [Abstract]
Revenues	$ 8,840,120	$ 9,150,965	$ 17,309,380	$ 18,363,604
Direct costs	4,279,292	4,238,714	7,909,424	8,738,931
Gross profit	4,560,828	4,912,251	9,399,956	9,624,673
Marketing and sales expenses	372,122	317,519	715,758	617,438
General and administrative expenses	1,670,305	1,394,033	3,160,557	3,135,038
Depreciation and amortization	142,450	192,890	332,970	395,762
Operating income	2,375,951	3,007,809	5,190,671	5,476,435
Other income (expense):
Interest income	20,313	9,537	39,409	17,698
Interest (expense)		(170)
Total other income (expense)	20,313	9,367	39,409	17,698
Income from continuing operations, before income taxes	2,396,264	3,017,176	5,230,080	5,494,133
Provision for income taxes
Current	470,963	1,081,989	1,506,147	1,929,429
Deferred tax (benefit)	199,860	105,170	368,860	243,148
Total provision for income taxes	670,823	1,187,159	1,875,007	2,172,577
Income from continuing operations	1,725,441	1,830,017	3,355,077	3,321,556
Discontinued operations, net of taxes	357,050	40,931	(70,569)	60,903
Net income	$ 2,082,491	$ 1,870,948	$ 3,284,507	$ 3,382,459
Per share data:
Basic, from continuing operations	$ 0.09	$ 0.09	$ 0.17	$ 0.17
Basic from discontinued operations	$ 0.02	$ 0	$ 0	$ 0
Total per share data	$ 0.11	$ 0.09	$ 0.17	$ 0.17
Diluted, from continuing operations	$ 0.08	$ 0.09	$ 0.16	$ 0.16
Diluted, from discontinued operations	$ 0.02	$ 0	$ 0	$ 0
Total per share data	$ 0.10	$ 0.09	$ 0.16	$ 0.16
Average Shares Outstanding:
Basic	19,927,204	19,893,871	19,927,204	19,885,446
Diluted	21,166,342	20,604,722	21,029,363	20,362,334

Supplemental Cash Flows Information

6 Months Ended

Mar. 31, 2012

Supplemental Cash Flows Information [Abstract]

SUPPLEMENTAL CASH FLOWS INFORMATION

NOTE 6—SUPPLEMENTAL CASH FLOWS INFORMATION

Cash payments for interest and income taxes for the six months ended March 31, 2012 and 2011 are as follows:


	2012		2011
Interest expense	$	—	$	8,064
Income taxes paid	$	760,000	$	2,104,683
Non-cash investing activities:
Promissory note received in sale of subsidiary	$	1,500,000	$	—

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2012	Sep. 30, 2011
Assets
Cash and cash equivalents	$ 17,176,017	$ 12,258,258
Restricted cash	50,000	213,178
Accounts receivable, net	4,075,717	4,738,314
Note receivable	400,000	0
Advanced agency commissions, net	14,974	15,660
Deferred income taxes	110,810	359,000
Current assets from discontinued operations	0	2,903,760
Prepaid expenses	136,409	49,217
Total current assets	21,963,927	20,537,387
Furniture, fixtures and equipment, net	128,497	121,862
Goodwill	3,271,028	3,271,028
Intangibles, net	451,500	744,565
Deferred income taxes	570,331	691,000
Other assets from discontinued operations	0	1,962,224
Other assets	1,146,256	47,774
Total assets	27,531,539	27,375,840
Current liabilities:
Accounts payable	1,183,713	859,998
Waiver reimbursement liability	656,700	699,500
Deferred revenue	212,724	218,008
Liability for unrecognized tax benefit	166,000	166,000
Current liabilities from discontinued operations	0	2,921,144
Other accrued liabilities	1,286,842	1,840,037
Total current liabilities	3,505,979	6,704,687
Total liabilities	3,505,979	6,704,687
Stockholders' equity:
Common stock, $.0001 par value; 100,000,000 shares authorized; 19,927,204 shares issued and outstanding	19,927	19,927
Additional paid-in-capital	11,538,624	11,468,724
Accumulated earnings	12,467,009	9,182,502
Total stockholders' equity	24,025,560	20,671,153
Total liabilities and stockholders' equity	$ 27,531,539	$ 27,375,840