San Fernando Valley Business Journal

Briefs: Apollo Medical, Ryland

Wednesday, August 20, 2014

Apollo Medical Holdings Inc. reported a 56 percent revenue growth as its partnership with Rite Aid and other initiatives contributed to the top line.

The Glendale company, which traditionally managed doctors groups, reported a net loss of $1.66 million (-3 cents a share) for the second quarter ended June 30, compared to a loss of $1.9 million (-5 cents) for the same period a year ago. Revenue climbed 56 percent to $4 million.

No analysts follow the company.

In recent months the company has expanded from doctors to building clinics and operating a wellness program with Rite Aid Corp. pharmacies.

"We continue to successfully execute on our multi-channel growth strategies,” Dr. Warren Hosseinion, Apollo’s chief executive, said in a statement.

Apollo announced the results Tuesday. Shares closed Wednesday down 12 cents or 18 percent to 53 cents on the over-the-counter market.


Ryland Group Inc. on Wednesday announced its new home development in Henderson, Nev.

The Westlake Village homebuilder will open its Madori Gardens townhome community Aug. 23, where homes will be priced from $230,000 and will boast four floor plans, allowing homeowners to customize a home to their personal style.

The townhomes will feature up to 4 bedrooms, up to 3 and a half baths, and up to 2,370 square feet of living space. Rooftop decks on units are designed to give homeowners a panoramic view of the Las Vegas Valley, surrounding mountains and Las Vegas strip.

The homes will include energy-efficient materials and features like Energy Star appliances and more, which the developer said will save on monthly utility bills.

Ryland has built more than 300,000 homes in nearly 300 communities. The company operates in 17 states around the country.

Shares closed down 2 cents, or a fraction of 1 percent, to $37.13 on the New York Stock Exchange.