American Medical Alert Corp. (NASDAQ: AMAC) a provider of
healthcare communication services and advanced telehealth
monitoring technologies, today announced operating results for the
quarter ended March 31, 2007. Revenues for the quarter ended March
31, 2007, consisting primarily of monthly recurring revenues (MRR),
increased 21.7% to $8,702,836 as compared to $7,150,211 for the
same period in 2006. Net income for the quarter ended March 31,
2007 increased 31.1% to $366,708 or $0.04 per diluted share
compared to $279,767 or $0.03 per diluted share for the same period
in 2006. Net Income for the trailing twelve months ended March 31,
2007 and 2006 was $1,349,470 and $985,704, respectively. Earnings
before interest, taxes and depreciation and amortization (�EBITDA�)
for the quarter ended March 31, 2007 increased 27.4% to $1,730,682
as compared to $1,358,855 for the same period in 2006. EBITDA for
the trailing twelve months ended March 31, 2007 and 2006 was
$6,413,231 and $5,108,358, respectively, a 25.5% increase. Jack
Rhian, AMAC�s Chief Executive Officer and President, commented:
�AMAC�s management team�s strategy for the remainder of 2007 is to
capitalize on the significant developments in its PERS business and
work on operational efficiencies in its fast growing TBCS segment.
With respect to the Company�s HSMS division, management continues
to prepare to execute on the recently announced national rollout of
the Walgreen�s sponsored PERS program. This program, if successful,
has the potential to materially increase the Company�s overall PERS
subscriber base and bring unprecedented exposure of the Company�s
portfolio of healthcare communications products and services. While
we recognize that this program will require certain short term
investment in marketing support and personnel, we are confident the
investment will substantially enhance AMAC�s asset value. In
addition to this new Walgreen�s sponsored direct to consumer
program, management is also pursuing other internally driven,
traditional business to business marketing efforts. Concurrently,
the TBCS division is focused on increasing top line revenue through
internally driven marketing initiatives including our �Daytime
Services� and �PhoneScreen� offerings. Simultaneously, we are
focused on working to decrease the cost of labor which is the
single largest component of this division�s cost structure. We are
encouraged by the progress of our business plan during the first
quarter of 2007, and our ability to conduct these activities while
improving upon our top line growth and bottom line profitability."
Webcast information The Company invites investors and others to
listen to the earnings conference call live over the Internet or by
dial in on Tuesday, May 15, 2007 at 10:00 a.m. Eastern Time. What:
American Medical Alert Corp. First Quarter 2007 EarningsConference
Call When: Tuesday, May 15, 2007, 10:00 a.m. Eastern Time Where:
http://www.vcall.com/IC/CEPage.asp?ID=116970 How: Log on to the web
at the address above, and click on the audio link or dial in
877-407-0782 to participate. About American Medical Alert Corp.
AMAC is a healthcare communications company dedicated to the
provision of support services to the healthcare community. AMAC's
product and service portfolio includes Personal Emergency Response
Systems (PERS) and emergency response monitoring, electronic
medication reminder devices, disease management monitoring
appliances and healthcare communication solutions services. AMAC
operates eight communication centers under local trade names: HLINK
OnCall, Long Island City, NY, North Shore TAS, Port Jefferson, NY,
Live Message America, Audubon, NJ, ACT Teleservice, Newington, CT
and Springfield, MA, MD OnCall, Cranston RI and Capitol Medical
Bureau Rockville, MD, American MediConnect and Phone Screen
Chicago, IL to support the delivery of high quality, healthcare
communications. Use of Non-GAAP Financial Information In addition
to the results reported in accordance with accounting principles
generally accepted in the United States (�GAAP�) included in this
press release, the Company has provided information regarding
certain non-GAAP financial measure. This measure is �earnings
before interest, taxes and depreciation and amortization
(�EBITDA�)�. Such information is reconciled to its closest GAAP
measure in accordance with the Securities and Exchange Commission
rules and is included in the attached supplemental data. Management
believes that the non-GAAP financial measure used in this press
release is useful to both management and investors in their
analysis of the Company�s financial position and results of
operations. Management believes that EBITDA is a useful measure of
the Company's financial performance as it is an indicator of the
Company's ability to generate cash flow to make acquisitions,
reinvest in�new telehealth products and liquidate liabilities.
Management also uses EBITDA for planning purposes to determine
appropriate levels of operating and capital investments. EBITDA is
a non-GAAP financial measure and although management and some
members of the investment community utilize it to measure financial
performance, EBITDA should not be viewed as a substitute for
financial data prepared in accordance with GAAP or as a measure of
profitability. Additionally, the non-GAAP financial measure as
presented by AMAC may not be comparable to similarly titled
measures reported by other companies. Forward Looking Statements
This press release contains forward-looking statements that involve
a number of risks and uncertainties. Forward-looking statements may
be identified by the use of forward-looking terminology such as
"may," "will," "expect," "believe," "estimate," "anticipate,"
"continue," or similar terms, variations of those terms or the
negative of those terms. Important factors that could cause actual
results to differ materially from those indicated by such
forward-looking statements are set forth in the Company's filings
with the Securities and Exchange Commission (SEC), including the
Company's Annual Report on Form 10-K, the Company's Quarterly
Reports on Forms 10-Q, and other filings and releases. These
include uncertainties relating to government regulation,
technological changes, costs relating to ongoing FCC remediation
efforts, our expansion plans, our contract with the City of New
York and product liability risks. Statements of income for the
three months ended March 31, 2007 and 2006 and balance sheets as of
March 31, 2007 and December 31, 2006 are attached. AMAC SELECTED
FINANCIAL DATA � � 3/31/2007� � 3/31/2006� � Revenues $ 8,702,836�
$ 7,150,211� � Net Income $ 366,708� $ 279,767� � Net Income per
Share Basic $ 0.04� $ 0.03� Diluted $ 0.04� $ 0.03� � Basic
Weighted Average Shares Outstanding 9,204,178� 8,774,571� � Diluted
Weighted Average Shares Outstanding 9,578,266� 9,271,554� � �
CONDENSED BALANCE SHEET March 31, December 31, � 2007� � 2006�
(Unaudited) ASSETS � Current Assets $ 8,210,137� $ 7,216,554� Fixed
Assets � Net 9,466,360� 9,307,912� Other Assets 15,672,513�
16,083,279� � � Total Assets $ 33,349,010� $ 32,607,745� �
LIABILITIES AND STOCKHOLDERS� EQUITY � Current Liabilities $
4,589,507� $ 4,028,591� Deferred Income Tax 979,000� 992,000�
Long-term Debt 5,294,474� 5,677,068� Long-term portion of capital
lease 64,210� 74,440� Other Liabilities 515,823� 490,456� � � Total
Liabilities $ 11,443,014� $ 11,262,555� � Stockholders� Equity �
21,905,996� � 21,345,190� Total Liabilities and Stockholders�
Equity $ 33,349,010� $ 32,607,745� Earnings before interest, taxes
and depreciation and amortization for the three months and trailing
twelve months ended March 31, 2007 and 2006. Add: Less: 3/31/07�
12/31/2006� Subtotal 3/31/2006� Total � Net Income 366,708�
1,262,529� 1,629,237� 279,767� 1,349,470� Add Backs: Taxes 277,000�
869,000� 1,146,000� 238,000� 908,000� Interest 126,515� 394,613�
521,128� 62,042� 459,086� Depreciation & Amort. 960,459�
3,515,262� 4,475,721� 779,046� 3,696,675� � � EBITDA 1,730,682�
6,413,231� � � Add: Less: 3/31/06� 12/31/2005� Subtotal 3/31/2005�
Total � Net Income 279,767� 932,436� 1,212,203� 226,499� 985,704�
Add Backs: Taxes 238,000� 866,000� 1,104,000� 210,000� 894,000�
Interest 62,042� 52,638� 114,680� 12,404� 102,276� Depreciation
& Amort. 779,046� 3,061,668� 3,840,714� 714,336� 3,126,378� � �
EBITDA 1,358,855� 5,108,358�
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