United American Healthcare Corp. reported unaudited consolidated earnings results for the first quarter ended September 30, 2009. Revenues for the first quarter were $1.8 million, down $4.5 million, or 72%, compared with revenues of $6.3 million for the first quarter of the prior fiscal year. The decline was primarily the result of the complete transfer of TennCare enrollees served by the Company's subsidiary, UAHC Health Plan of Tennessee (UAHC-TN), to other managed care organizations on Nov. 1, 2008, and the discontinuance of UAHC-TN's Medicaid managed care services as a TennCare contractor. The decrease in Revenue was also attributable to the decrease in enrollment and associated revenue from the Company's Medicare Advantage Special Needs Plan (MA-SNP). For the first quarter of fiscal 2010, the Company reported a net loss of $1.6 million, or $0.19 per diluted share, compared with earnings of $0.2 million, or $0.02 per diluted share, in the comparable quarter a year ago. The loss in the most recent quarter was primarily the result of the loss of TennCare revenue, partially offset by the reduction in expenses. The company reported loss before income taxes of $1.563 million and operating loss of $1.603 million compared to the income before income taxes of $270,000 and operating income of $62,000 for the same period a year ago.

United American Healthcare Corporation announced financial results for the fiscal first quarter ended September 30, 2009 with 72% drop in revenues to $1.8 million. The company is reviewing its strategic alternatives. The company stated: “Due to the expiration of the TennCare contract and the pending expiration of the Medicare contract, the Company's Board of Directors and management team have been engaged in a review of a variety of long-term strategic alternatives. The review process continues to be guided by the goal of pursuing a strategic alternative that satisfies three primary objectives: providing significant revenues, providing immediate positive EBITDA and having long-term growth opportunities. During this review, all feasible options are being considered, including pursuing a joint venture or other strategic partnership, completing a strategic acquisition or merger, or liquidating the Company's assets.” William C. Brooks, President and CEO of the company said: "As we manage through one of the sharpest economic downturns in more than half a century, our review of strategic alternatives has taken longer than we might have anticipated. This should be understandable given the state of current markets and the challenges involved in establishing accurate valuations when markets cease to function effectively. While we realize that some of our shareholders may have grown impatient with this process, we remain committed to completing the hard work and effort required to identify the best possible alternative to benefit all shareholders. As we reach the conclusion of this process, we will communicate our decision to shareholders and provide a forum for them to address their questions and concerns."

United American Healthcare Corp. announced unaudited consolidated financial results for the fourth quarter and full year ended June 30, 2009. For the quarter, the company's revenues were $3.3 million, down $3.2 million, or 49%, compared with revenues of $6.4 million for the fourth quarter of the prior fiscal year. The decline was primarily the result of the complete transfer of TennCare enrollees served by the company's subsidiary, UAHC Health Plan of Tennessee (UAHC-TN), to other managed care organizations on November 1, 2008, and the discontinuance of UAHC-TN's managed care services as a TennCare contractor. Net loss was $4.5 million or $0.53 per basic share, compared with a net loss of $0.6 million, or $0.08 per basic share, in the comparable quarter a year ago. The loss was primarily a result of the loss of TennCare revenue, and the increase in legal expenses and settlement costs associated with recent litigation. For the full year, the company's revenues fell $10.2 million, or 38%, to $16.7 million, compared with $26.8 million for fiscal 2008. The transfer of UAHC-TN's TennCare enrollees to other providers on November 1, 2008 was the primary cause of the decrease in revenues. Net loss was $8.7 million or $1.02 per basic and diluted share, compared with a net loss of $4.0 million or $0.47 per basic and diluted share, in fiscal 2008. Operating loss was $9.4 million compared to $3.3 million a year ago. Loss before income taxes was $8.7 million compared to $1.9 million a year ago. Negative operating cash flow was approximately $6.2 million in fiscal 2009.