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Allied Healthcare International Inc. Reports Fiscal 2011 Second Quarter Results

NEW YORK, NY -- (Marketwire) -- 05/10/11 -- Allied Healthcare International Inc. (NASDAQ: AHCI), a leading homecare provider of health and social care in the United Kingdom and Ireland, today issued financial results for its fiscal 2011 second quarter ended March 31, 2011.

To provide investors with a better understanding of the Company's performance and because of fluctuations in foreign exchange rates, Allied is discussing its revenues, gross profit, selling, general & administrative (SG&A) expenses and operating income at constant exchange rates, which are calculated using the comparable prior period weighted average exchange rates. In addition, as the Company's revenues and gross profit from its principal operations are denominated in pounds sterling but reported in United States dollars, an analysis is included of the last six quarters' revenues, gross profit, SG&A and operating income in pounds sterling to enable investors to fully understand the underlying trends over these periods without the effects of currency exchange rates. (See the Historical Revenues, Gross Profit, SG&A and Operating Income table at the end of this press release.)

Fiscal Second Quarter Results

                           Three Months Ended March 31,
                          -----------------------------
                                                  %
                            2011      2010     Change
                          -----------------------------
                                    Revenue
                          -----------------------------

(Amounts in thousands)

Homecare                  $  60,205 $  56,018      7.5%
Nursing Homes                 3,252     4,460    -27.1%
Hospitals                     4,072     5,052    -19.4%
                          --------- --------- --------
Total, at constant
 exchange rates              67,529    65,530      3.0%
Effect of foreign
 exchange                     1,695         -      2.6%
                          --------- --------- --------

Total, as reported        $  69,224 $  65,530      5.6%
                          ========= ========= ========




                                    Three Months Ended March 31,
                          ------------------------------------------------
                                                                      %
                            2011        %       2010        %      Change
                          ------------------------------------------------
                                            Gross Profit
                          ------------------------------------------------

(Amounts in thousands)

Homecare                  $ 19,003      31.6% $ 17,315      30.9%      9.7%
Nursing Homes                1,032      31.7%    1,451      32.5%    -28.9%
Hospitals                    1,024      25.1%    1,182      23.4%    -13.4%
                          --------            --------            --------
Total, at constant
 exchange rates             21,059      31.2%   19,948      30.4%      5.6%
Effect of foreign
 exchange                      522                   -                 2.6%
                          --------            --------            --------

Total, as reported        $ 21,581            $ 19,948                 8.2%
                          --------            --------            --------




                                                SG&A
                          ------------------------------------------------

SG&A, at constant
 exchange rates &
 excluding US Corporate
 Overhead Costs           $ 17,211            $ 15,285                12.6%
SG&A - US Corporate
 Overhead Costs                703                 760                -7.5%
SG&A - Amortization, at
 constant exchange rates       271                 301               -10.0%
                          --------            --------            --------
SG&A, at constant
 exchange rates             18,185              16,346                11.2%
Effect of foreign
 exchange                      421                   -                 2.6%
                          --------            --------            --------
Total SG&A, as reported   $ 18,606            $ 16,346                13.8%
                          --------            --------            --------




                                          Operating Income
                          ------------------------------------------------

Operating income, at
 constant exchange rates
 & excluding US Corporate
 Overhead Costs &
 Amortization             $  3,848            $  4,663               -17.5%
Operating income - US
 Corporate Overhead Costs     (703)               (760)                7.5%
Operating income -
 amortization, at
 constant exchange rates      (271)               (301)               10.0%
                          --------            --------            --------
Operating income, at
 constant exchange rates     2,874               3,602               -20.2%
Effect of foreign exchange     101                   -                 2.8%
                          --------            --------            --------
Operating income, as
 reported                 $  2,975            $  3,602               -17.4%
                          ========            ========            ========




                                 Net Income Attributable to Allied
                          ------------------------------------------------
                                      Basic               Basic
                                       and                 and
                                     Diluted             Diluted
                                       EPS                 EPS
                          ------------------------------------------------
Net income attributable
 to Allied                $  1,929  $   0.04  $  2,642  $   0.06
                          ========  ========  ========  ========

For the second quarter of fiscal 2011, total revenue increased 3.0%, to $67.5 million, compared with $65.5 million reported during the same period in fiscal 2010. Allied's Homecare revenue grew 7.5% to $60.2 million. Acquisitions contributed 9.9%, or $5.6 million, to Homecare revenue. Nursing Homes revenue declined 27.1% to $3.2 million and Hospitals revenue declined 19.4% to $4.1 million. After the favorable impact of currency exchange of $1.7 million, revenue increased 5.6% year over year to the reported $69.2 million.

Total gross profit for the second fiscal quarter increased 5.6% to $21.1 million, from $19.9 million for the comparable quarter in fiscal 2010. Homecare gross profit grew 9.7% to $19.0 million. Acquisitions contributed $1.7 million, or 10.0%, to the Homecare gross profit. Nursing Homes gross profit declined 28.9% to $1.1 million and Hospitals gross profit declined 13.4% to $1.0 million. Gross profit as a percentage of revenue was 31.2%, compared with 30.4% for the comparable prior-year period. Foreign exchange increased gross profit by $0.5 million to the reported $21.6 million for the 2011 second fiscal quarter.

SG&A for the second fiscal quarter was $18.2 million (26.9% of revenues), an increase of 11.2%, from $16.3 million (24.9% of revenues) reported last year. Acquisitions contributed 7.0%, or $1.1 million, to the 12.6% increase in SG&A, excluding US corporate overhead costs and amortization costs. Foreign exchange increased costs by $0.4 million to the reported $18.6 million for the 2011 second fiscal quarter.

Operating income for the second quarter of fiscal 2011 decreased by 20.2% to $2.9 million from $3.6 million a year ago. Foreign exchange increased operating income by $0.1 million to the reported $3.0 million for the 2011 second fiscal quarter.

Net income attributable to Allied for the second quarter of fiscal 2011 was $1.9 million, or $0.04 per diluted share, compared with $2.6 million, or $0.06 per diluted share, reported during the 2010 second fiscal quarter.

Fiscal Six Months Results

                           Six Months Ended March 31,
                         -----------------------------
                                                  %
                            2011      2010     Change
                         -----------------------------
                                    Revenue
                         -----------------------------

(Amounts in thousands)

Homecare                 $ 123,468  $ 114,640      7.7%
Nursing Homes                7,137      9,785    -27.1%
Hospitals                    8,350     10,489    -20.4%
                         ---------  --------- --------
Total, at constant
 exchange rates            138,955    134,914      3.0%
Effect of foreign
 exchange                     (532)         -     -0.4%
                         ---------  --------- --------

Total, as reported       $ 138,423  $ 134,914      2.6%
                         =========  ========= ========




                                     Six Months Ended March 31,
                          ------------------------------------------------
                                                                      %
                            2011        %       2010        %      Change
                          ------------------------------------------------
                                            Gross Profit
                          ------------------------------------------------

(Amounts in thousands)

Homecare                  $ 38,752      31.4% $ 35,342      30.8%      9.6%
Nursing Homes                2,273      31.8%    3,138      32.1%    -27.6%
Hospitals                    2,057      24.6%    2,345      22.4%    -12.3%
                          --------            --------            --------
Total, at constant
 exchange rates             43,082      31.0%   40,825      30.3%      5.5%
Effect of foreign
 exchange                     (164)                  -                -0.4%
                          --------            --------            --------

Total, as reported        $ 42,918            $ 40,825                 5.1%
                          --------            --------            --------




                                                SG&A
                          ------------------------------------------------

SG&A, at constant
 exchange rates &
 excluding US Corporate
 Overhead Costs           $ 34,703            $ 31,378                10.6%
SG&A - US Corporate
 Overhead Costs              1,774               1,423                24.7%

SG&A - Amortization, at
 constant exchange rates       593                 625                -5.1%
                          --------            --------            --------
SG&A, at constant
 exchange rates             37,070              33,426                10.9%
Effect of foreign
 exchange                     (134)                  -                -0.4%
                          --------            --------            --------
Total SG&A, as reported   $ 36,936            $ 33,426                10.5%
                          --------            --------            --------




                                           Operating Income
                          ------------------------------------------------

Operating income, at
 constant exchange rates
 & excluding US Corporate
 Overhead Costs &
 Amortization             $  8,379            $  9,447               -11.3%

Operating income - US
 Corporate Overhead Costs   (1,774)             (1,423)              -24.7%

Operating income -
 amortization, at
 constant exchange rates      (593)               (625)                5.1%
                          --------            --------            --------
Operating income, at
 constant exchange rates     6,012               7,399               -18.7%
Effect of foreign exchange     (30)                  -                -0.4%
                          --------            --------            --------
Operating income, as
 reported                 $  5,982            $  7,399               -19.1%
                          ========            ========            ========




                                 Net Income Attributable to Allied
                          ------------------------------------------------
                                      Basic               Basic
                                       and                 and
                                     Diluted             Diluted
                                       EPS                 EPS
                          ------------------------------------------------
Net income attributable
 to Allied                $  3,767  $   0.09  $  5,496  $   0.12
                          ========  ========  ========  ========

For the six months of fiscal 2011, total revenue increased 3.0%, to $138.9 million, compared with $134.9 million reported during the same period in fiscal 2010. Allied's Homecare revenue grew 7.7% to $123.5 million. Acquisitions contributed 8.9%, or $10.2 million, to Homecare revenue. Nursing Homes revenue declined 27.1% to $7.1 million and Hospitals revenue declined 20.4% to $8.3 million. After the unfavorable impact of currency exchange of $0.5 million, revenue increased 2.6% year over year to the reported $138.4 million.

Total gross profit for the six months of fiscal 2011 increased 5.5% to $43.1 million, from $40.8 million for the comparable period in fiscal 2010. Homecare gross profit grew 9.6% to $38.8 million. Acquisitions contributed $3.2 million, or 9.0%, to the Homecare gross profit. Nursing Homes gross profit declined 27.6% to $2.3 million and Hospitals gross profit declined 12.3% to $2.0 million. Gross profit as a percentage of revenue was 31.0%, compared with 30.3% for the comparable prior-year period. Foreign exchange decreased gross profit by $0.2 million to the reported $42.9 million for the 2011 six month period.

SG&A for the six months of fiscal 2011 was $37.0 million (26.7% of revenues), an increase of 10.9%, from $33.4 million (24.8% of revenues) reported last year. Acquisitions contributed 7.0%, or $2.2 million, to the 10.6% increase in SG&A, excluding US corporate overhead costs and amortization costs. Foreign exchange decreased costs by $0.1 million to the reported $36.9 million for the 2011 six month period.

Operating income for the six months of fiscal 2011 decreased by 18.7% to $6.0 million from $7.4 million a year ago.

Net income attributable to Allied for the six months of fiscal 2011 was $3.8 million, or $0.09 per diluted share, compared with $5.5 million, or $0.12 per diluted share, reported during the fiscal 2010 six month period.

We ended the quarter with a very strong balance sheet. At March 31, 2011 and September 30, 2010, Allied's cash balance was $41.5 million (£25.9 million) and $39.0 million (£24.7 million), respectively, which represents an increase in the cash balance of $2.5 million (£1.2 million). The increase is primarily due to the benefit of accelerated cash collections, mainly from the local governmental bodies, as a result of the end of their fiscal period. Offsetting this increase was the $3.6 million cash payments ($1.2 million initial consideration and $2.4 million repayment of liabilities assumed on acquisition) related to our ScotHomecare acquisition.

For the fiscal six months ended March 31, 2011, depreciation and amortization was $2.4 million (£1.5 million), and capital expenditures were $2.7 million (£1.7 million). Days Sales Outstanding was 26 days at March 31, 2011 (41 days including unbilled accounts receivables) and 26 days at September 30, 2010 (43 days including unbilled account receivables).

Management Discussion

Sandy Young, Chief Executive Officer of Allied, commented, "Our second quarter of fiscal 2011 results show a revenue increase of 5.6% and gross profit increase of 8.2%; although, at constant exchange rates this is 3.0% revenue growth and 5.6% gross profit growth. Gross profits at 31.2% compare favorably with the 30.4% reported last year. Without acquisitions, our Homecare revenue declined 2.4% due to the U.K. government budget measures. We continue to look for new opportunities that arise from the Comprehensive Spending Review, which we believe, over time, will benefit homecare revenues. Our Nursing Home and Hospitals revenue also showed reductions.

"SG&A, at constant exchange rates, grew by 11.2%. The main reason for the increase was the additional overhead costs of $1.1 million, or 7.0%, from our Irish and Scottish acquisitions which we did not have in the comparable prior year period.

"SG&A, at constant exchange rate, has remained relatively flat over the last three quarters. However, there are more reductions planned and this remains a focus for management. This is quite separate from the reduction in overheads of $2.4 million (at current exchange rate) from our Business Improvement Projects which we anticipate delivering on by the end of 2012.

"Over the last few quarters we highlighted revenue tensions from the budget measures being taken by the U.K. government. During the second fiscal quarter of 2011 our hours increased from a lower point in December and have been steady during the last eight weeks. There has been no noticeable change in April as we enter the new U.K. government fiscal year. We have also had 11 small contract wins in the quarter plus the Cardiff and Stafford wins previously reported.

"During the second quarter we completed the acquisition of Health and Lifecare Options Limited, which trades under the ScotHomecare name. ScotHomecare is a flexible domiciliary homecare business with nine branches in Scotland and one branch in Leicester, England. ScotHomecare's services include adult health care, child nursing care, palliative care nursing and elderly care services. Our acquisition in Scotland and our Ireland acquisition continue to perform well and according to our expectations.

"Additionally, during the first week of May, we completed the acquisition of BiJu Limited, a recognized supplier of diverse homecare services to clients throughout Lancashire. The transaction expands our geographical footprint in the North West of England and provides Allied with additional growth opportunities across Lancashire.

"Based on our accomplishments to date, we believe Allied is well positioned as the leading provider of homecare services in the U.K., and we continue to explore new service lines, which may improve market share as conditions improve," concluded Mr. Young.

Dr. Jeffrey Peris, Chairman of Allied, commented, "The Board believes that Allied is responding to challenges in the market place and has the right focus, plans and sufficient financial resources to further execute its business strategy and build value for its shareholders."

Conference Call Information: May 10, 2011 at 10:00 AM Eastern Time / 3:00 PM UK Time

Allied will host a call and webcast today at 10:00 AM Eastern Time / 3:00 PM UK Time, to discuss its financial results. To join the call, please dial (877) 407-8031 for domestic participants and (201) 689-8031 for international participants. Participants may also access a live webcast of the conference call through the "Investors" section of Allied Healthcare's Website: www.alliedhealthcare.com. A telephone replay will be available for two weeks following the call by dialing (877) 660-6853 for domestic participants and (201) 612-7415 for international participants. When prompted, please enter account number 286 and conference ID number 371877. A webcast replay will also be available and archived on the Company's website for ninety days.

Reconciliation of GAAP and Non-GAAP Data

In addition to disclosing results of operations that are determined in accordance with generally accepted accounting principles ("GAAP"), this press release also discloses non-GAAP results of operations that exclude or include certain charges. These non-GAAP measures adjust for foreign exchange effects, US corporate overhead costs and amortization costs. Management believes that the presentation of these non-GAAP measures provides useful information to investors regarding the Company's results of operations, as these non-GAAP measures allow investors to better evaluate ongoing business performance. Investors should consider non-GAAP measures in addition to, and not as a substitute for, financial measures prepared in accordance with GAAP. A reconciliation of the non-GAAP measures disclosed in this press release with the most comparable GAAP measures are included in the financial tables included in this press release.

ABOUT ALLIED HEALTHCARE INTERNATIONAL INC.

Allied Healthcare International Inc. is a leading homecare provider of health and social care in the United Kingdom and Ireland. Allied operates a community-based network of approximately 120 branches with the capacity to provide carers (known as home health aides in the U.S.), nurses, and specialized medical personnel to locations covering approximately 90% of the U.K. population. For more news and information please visit: www.alliedhealthcare.com.

FORWARD-LOOKING STATEMENTS

Certain statements contained in this news release may be forward-looking statements. These forward-looking statements are based on current expectations and projections about future events. Actual results could differ materially from those discussed in, or implied by, these forward-looking statements. Factors that could cause actual results to differ from those implied by the forward-looking statements include: general economic and market conditions; the effect of the change in the U.K. government and the impact of proposed changes in recent policy making related to health and social care that may reduce revenue and profitability; the impact of the HM Treasury Comprehensive Spending Review 2010 setting out the U.K. government's plans to reduce spending; the introduction by the U.K. government of individualized budgets and direct payments for service users, which could lead our hospital, healthcare facility and other customers to bypass our services and which might decrease our revenues and margins; Allied's ability to continue to recruit and retain flexible healthcare staff; Allied's ability to enter into contracts with local government social services departments, NHS Trusts, hospitals, other healthcare facility clients and private clients on terms attractive to Allied; the general level of demand and spending for healthcare and social care; dependence on the proper functioning of Allied's information systems; the effect of existing or future government regulation of the healthcare and social care industry, and Allied's ability to comply with these regulations; the impact of medical malpractice and other claims asserted against Allied; the effect of regulatory change that may apply to Allied and that may increase costs and reduce revenues and profitability; the effect of existing or future government regulation in relation to employment and agency workers' rights and benefits, including changes to National Insurance rates and pension provision; Allied's ability to use net operating loss carry forwards to offset net income; the effect that fluctuations in foreign currency exchange rates may have on our dollar-denominated results of operations; and the impairment of goodwill, of which Allied has a substantial amount on the balance sheet, may have the effect of decreasing earnings or increasing losses. Other factors that could cause actual results to differ from those implied by the forward-looking statements in this press release include those described in Allied's most recently filed SEC documents, such as its most recent annual report on Form 10-K, all quarterly reports on Form 10-Q and any current reports on Form 8-K filed since the date of the last Form 10-K. Allied undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

ALLIED HEALTHCARE INTERNATIONAL INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)


                                 Three Months Ended     Six Months Ended
                                --------------------  --------------------
                                March 31,  March 31,  March 31,  March 31,
                                  2011       2010       2011       2010
                                ---------  ---------  ---------  ---------
Revenues:
  Net patient services          $  69,224  $  65,530  $ 138,423  $ 134,914
                                ---------  ---------  ---------  ---------

Cost of revenues:
  Patient services                 47,643     45,582     95,505     94,089
                                ---------  ---------  ---------  ---------

     Gross profit                  21,581     19,948     42,918     40,825

Selling, general and
 administrative expenses           18,606     16,346     36,936     33,426
                                ---------  ---------  ---------  ---------

     Operating income               2,975      3,602      5,982      7,399

Interest income                        86         86        176        191
Interest expense                      (22)         -        (43)         -
Foreign exchange loss                 (13)      (195)       (18)      (213)
                                ---------  ---------  ---------  ---------

     Income before income taxes     3,026      3,493      6,097      7,377

Provision for income taxes            958        851      2,064      1,881
                                ---------  ---------  ---------  ---------

Net income                          2,068      2,642      4,033      5,496


Less: Net income attributable
 to noncontrolling interest          (139)         -       (266)         -
                                ---------  ---------  ---------  ---------

Net income attributable to
 Allied Healthcare International
 Inc.                           $   1,929  $   2,642  $   3,767  $   5,496
                                =========  =========  =========  =========

Basic net income per share
 attributable to Allied
 Healthcare International Inc.
 common shareholders            $    0.04  $    0.06  $    0.09  $    0.12
                                =========  =========  =========  =========

Diluted net income per share
 attributable to Allied
 Healthcare International Inc.
 common shareholders            $    0.04  $    0.06  $    0.09  $    0.12
                                =========  =========  =========  =========

Weighted average number of
 common shares outstanding:
     Basic                         43,571     45,136     43,571     45,131
                                =========  =========  =========  =========
     Diluted                       43,766     45,405     43,846     45,411
                                =========  =========  =========  =========



ALLIED HEALTHCARE INTERNATIONAL INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except per share data)

                                                March 31,    September 30,
                                                  2011           2010
                                              -------------  -------------
                                               (Unaudited)
                   ASSETS

Current assets:
  Cash and cash equivalents                   $      41,534  $      39,031
  Accounts receivable, less allowance for
   doubtful accounts of $880 and $732,
   respectively                                      19,973         20,092
  Unbilled accounts receivable                       11,539         13,393
  Deferred income taxes                                 505            552
  Prepaid expenses and other assets                   2,197          1,943
                                              -------------  -------------
     Total current assets                            75,748         75,011

Property and equipment, net                           9,613          8,924
Goodwill                                            108,008        102,945
Other intangible assets, net                          2,955          3,501
                                              -------------  -------------
     Total assets                             $     196,324  $     190,381
                                              =============  =============

   LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:
  Accounts payable                            $       2,179  $       1,581
  Current maturities of debt and capital
   leases                                               735            614
  Accrued expenses, inclusive of payroll and
   related expenses                                  25,359         25,897
  Taxes payable                                       2,362          2,310
                                              -------------  -------------
     Total current liabilities                       30,635         30,402

Long-term debt and capital leases,
 net of current maturities                              226            389
Deferred income taxes                                 1,442          1,534
Other long-term liabilities                               -            308
                                              -------------  -------------
     Total liabilities                               32,303         32,633
                                              -------------  -------------

Commitments and contingencies

Noncontrolling interest                               4,688          4,358
                                              -------------  -------------

Shareholders' equity:
  Preferred stock, $.01 par value; authorized
   10,000 shares, issued and outstanding - none           -              -
  Common stock, $.01 par value; authorized
   80,000 shares, issued 45,721 and 45,721
   shares, respectively                                 457            457
  Additional paid-in capital                        242,697        242,478
  Accumulated other comprehensive loss              (13,310)       (15,267)
  Accumulated deficit                               (64,391)       (68,158)
                                              -------------  -------------
                                                    165,453        159,510
  Less cost of treasury stock (2,150 shares)         (6,120)        (6,120)
                                              -------------  -------------
     Total shareholders' equity                     159,333        153,390
                                              -------------  -------------
     Total liabilities and shareholders'
      equity                                  $     196,324  $     190,381
                                              =============  =============




ALLIED HEALTHCARE INTERNATIONAL INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)

                                                   Six Months Ended
                                                March 31,      March 31,
                                                  2011           2010
                                              -------------  -------------
Cash flows from operating activities:
  Net income                                  $       4,033  $       5,496
  Adjustments to reconcile net income to net
   cash provided by operating activities:
    Depreciation and amortization                     1,854          1,467
    Amortization of intangible assets                   591            625
    Foreign exchange loss                                 5            187
    Increase (decrease) in provision for
     allowance for doubtful accounts                    162            (39)
    Loss on sale of fixed assets                          7              1
    Stock based compensation                            219            213
    Deferred income taxes                                55             25
  Changes in operating assets and liabilities,
   excluding the effect of businesses acquired
   and sold:
    Decrease in accounts receivable                   1,214          1,376
    Decrease in prepaid expenses and other
     assets                                           1,885             47
    (Decrease) increase in accounts payable
     and other liabilities                           (1,825)           980
                                              -------------  -------------

       Net cash provided by operating
        activities                                    8,200         10,378
                                              -------------  -------------

Cash flows from investing activities:
  Capital expenditures                               (2,709)        (2,066)
  Payments for acquisitions - net of cash
   acquired                                          (1,198)             -
  Proceeds from sale of property and equipment            8             56
                                              -------------  -------------

       Net cash used in investing activities         (3,899)        (2,010)
                                              -------------  -------------

Cash flows from financing activities:
  Repayments of debt and capital lease
   obligations                                       (2,569)             -
  Borrowings under invoice discounting
   facility, net                                        134              -
  Stock options exercised                                 -            288
                                              -------------  -------------

       Net cash (used in) provided by
        financing activities                         (2,435)           288
                                              -------------  -------------

Effect of exchange rate on cash                         637         (2,358)
                                              -------------  -------------

Increase in cash                                      2,503          6,298

Cash and cash equivalents, beginning of year         39,031         35,273
                                              -------------  -------------

Cash and cash equivalents, end of year        $      41,534  $      41,571
                                              =============  =============

Supplemental cash flow information:
  Cash paid for interest                      $          44  $           -
                                              =============  =============

  Cash paid for income taxes, net             $       2,327  $         217
                                              =============  =============

Supplemental disclosure of non-cash investing
 and financing activities:
   Capital expenditures included in accrued
    expenses                                  $         313  $         623
                                              =============  =============

   Details of business acquired in purchase
    transactions:
      Fair value of assets acquired           $       4,776
                                              =============

      Liabilities assumed or incurred         $       3,186
                                              =============

      Cash paid for acquisitions              $       1,199
      Cash acquired                                       1
                                              -------------
      Net cash paid for acquisitions          $       1,198
                                              =============

      Deferred acquisition payment            $         391
                                              =============




ALLIED HEALTHCARE INTERNATIONAL INC.
HISTORICAL REVENUES,  GROSS PROFIT, SG&A AND OPERATING INCOME
(In thousands, except foreign exchange rate)
(Unaudited)


                                       Revenue
          -----------------------------------------------------------------
              Q2         Q1         Q4         Q3         Q2         Q1
             2011       2011       2010       2010       2010       2010
          ---------- ---------- ---------- ---------- ---------- ----------

Homecare  GBP 38,543 GBP 38,745 GBP 39,255 GBP 38,323 GBP 35,860 GBP 35,903
Nursing
 Homes         2,088      2,379      3,048      2,731      2,864      3,261
Hospitals      2,607      2,620      3,114      2,933      3,235      3,330
          ---------- ---------- ---------- ---------- ---------- ----------
Total     GBP 43,238 GBP 43,744 GBP 45,417 GBP 43,987 GBP 41,959 GBP 42,494
Foreign
 Exchange
 rate           1.60       1.58       1.55       1.49       1.56       1.63
          ---------- ---------- ---------- ---------- ---------- ----------
          $   69,224 $   69,199 $   70,417 $   65,748 $   65,530 $   69,384
          ========== ========== ========== ========== ========== ==========


                                     Gross Profit
          -----------------------------------------------------------------
              Q2         Q1         Q4         Q3         Q2         Q1
             2011       2011       2010       2010       2010       2010
          ---------- ---------- ---------- ---------- ---------- ----------

Homecare  GBP 12,163 GBP 12,095 GBP 12,188 GBP 11,651 GBP 11,083 GBP 11,041
Nursing
 Homes           663        760      1,002        882        931      1,033
Hospitals        655        633        812        696        755        712
          ---------- ---------- ---------- ---------- ---------- ----------
Total     GBP 13,481 GBP 13,488 GBP 14,002 GBP 13,229 GBP 12,769 GBP 12,786
Foreign
 Exchange
 rate           1.60       1.58       1.55       1.49       1.56       1.63
          ---------- ---------- ---------- ---------- ---------- ----------
          $   21,581 $   21,337 $   21,712 $   19,768 $   19,948 $   20,877
          ---------- ---------- ---------- ---------- ---------- ----------

SG&A -
 Foreign
 Opera-
 tions -
 Organic  GBP 10,146 GBP 10,101 GBP 10,126  GBP 9,962  GBP 9,786  GBP 9,856
SG&A -
 Foreign
 Opera-
 tions -
 Acquisi-
 tions           773        612        586        265          -          -
SG&A -
 Foreign
 Opera-
 tions -
 Acquisi-
 tion
 Costs            92          -         94        361          -          -
          ---------- ---------- ---------- ---------- ---------- ----------
SG&A -
 Foreign
 Opera-
 tions -
 Total        11,011     10,713     10,806     10,588      9,786      9,856
SG&A - US
 Corporate       438        677        719        660        485        406
SG&A -
 Amortiza-
 tion            174        197        240        218        193        199
          ---------- ---------- ---------- ---------- ---------- ----------
Total     GBP 11,623 GBP 11,587 GBP 11,765 GBP 11,466 GBP 10,464 GBP 10,461
Foreign
 Exchange
 rate           1.60       1.58       1.55       1.49       1.56       1.63
          ---------- ---------- ---------- ---------- ---------- ----------
          $   18,606 $   18,330 $   18,244 $   17,176 $   16,346 $   17,080
          ---------- ---------- ---------- ---------- ---------- ----------

Operating
 Income -
 Foreign
 Opera-
 tions     GBP 2,470  GBP 2,775  GBP 3,196  GBP 2,641  GBP 2,983  GBP 2,930
Operating
 Loss - US
 Corporate     (438)      (677)      (719)      (660)      (485)      (406)
Operating
 Loss -
 Amortiza-
 tion          (174)      (197)      (240)      (218)      (193)      (199)
          ---------- ---------- ---------- ---------- ---------- ----------
Total      GBP 1,858  GBP 1,901  GBP 2,237  GBP 1,763  GBP 2,305  GBP 2,325
Foreign
 Exchange
 rate           1.60       1.58       1.55       1.49       1.56       1.63
          ---------- ---------- ---------- ---------- ---------- ----------
          $    2,975 $    3,007 $    3,468 $    2,592 $    3,602 $    3,797
          ========== ========== ========== ========== ========== ==========

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