Back to AHCI
Allied Healthcare International Inc. Reports Fiscal 2011 Third Quarter Results

NEW YORK, NY -- (Marketwire) -- 08/04/11 -- 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 third quarter ended June 30, 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 seven 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 Third Quarter Results


                 Three Months Ended              Three Months Ended
                      June 30,                        June 30,
              ------------------------  -----------------------------------
                                   %                                    %
                2011     2010   Change    2011    %      2010    %   Change
              ------------------------  -----------------------------------
                       Revenue                      Gross Profit
              ------------------------  -----------------------------------

(Amounts in
 thousands)
Homecare      $ 62,188 $ 57,346    8.4% $ 19,133 30.8% $ 17,423 30.4%   9.8%
Nursing Homes    2,552    4,051  -37.0%      819 32.1%    1,309 32.3% -37.4%
Hospitals        3,797    4,351  -12.7%    1,004 26.4%    1,036 23.8%  -3.1%
              -------- -------- ------  --------       --------      ------
Total, at
 constant
 exchange
 rates          68,537   65,748    4.2%   20,956 30.6%   19,768 30.1%   6.1%
Effect of
 foreign
 exchange        6,175        -    9.4%    1,907              -         9.6%
              -------- -------- ------  --------       --------      ------
Total, as
 reported     $ 74,712 $ 65,748   13.6% $ 22,863       $ 19,768        15.7%
              ======== ======== ======  --------       --------      ------




                                              SG&A
                          -------------------------------------------
SG&A, at constant
 exchange rates &
 excluding US Corporate
 Overhead Costs &
 Amortization             $ 17,005          $ 15,849              7.3%
SG&A - US Corporate
 Overhead Costs                701             1,000            -29.9%
SG&A - Amortization, at
 constant exchange rates       164               327            -49.8%
                          --------          --------         --------
SG&A, at constant
 exchange rates             17,870            17,176              4.0%
Effect of foreign
 exchange                    1,562                 -              9.1%
                          --------          --------         --------
Total SG&A, as reported   $ 19,432          $ 17,176             13.1%
                          --------          --------         --------

                                        Operating Income
                          -------------------------------------------
Operating income, at
 constant exchange rates
 & excluding US Corporate
 Overhead Costs &
 Amortization             $  3,951          $  3,919              0.8%
Operating income - US
 Corporate Overhead Costs     (701)           (1,000)            29.9%
Operating income -
 amortization, at
 constant exchange rates      (164)             (327)            49.8%
                          --------          --------         --------
Operating income, at
 constant exchange rates     3,086             2,592             19.1%
Effect of foreign
 exchange                      345                 -             13.3%
                          --------          --------         --------
Operating income, as
 reported                 $  3,431          $  2,592             32.4%
                          ========          ========         ========

                               Net Income Attributable to Allied
                          -------------------------------------------
                                     Basic             Basic
                                      and               and
                                    Diluted           Diluted
                                      EPS               EPS
                          -------------------------------------------
Net income attributable
 to Allied                $  2,195 $   0.05 $  1,660 $   0.04
                          ======== ======== ======== ========

For the third quarter of fiscal 2011, total revenue increased 4.2% to $68.5 million, compared with $65.7 million reported during the same period in fiscal 2010. Allied's Homecare revenue grew 8.4% to $62.2 million. Acquisitions contributed 9.5%, or $5.4 million, to the Homecare revenue growth. Nursing Homes revenue declined 37.0% to $2.5 million and Hospitals revenue declined 12.7% to $3.8 million. After the favorable impact of currency exchange of $6.2 million, total revenue increased 13.6% year over year to the reported $74.7 million.

Total gross profit for the third fiscal quarter increased 6.1% to $20.9 million, from $19.8 million for the comparable quarter in fiscal 2010. Homecare gross profit grew 9.8% to $19.1 million. Acquisitions contributed $1.7 million, or 9.8%, to the growth in Homecare gross profit. Nursing Homes gross profit declined 37.4% to $0.8 million and Hospitals gross profit declined 3.1% to $1.0 million. Gross profit as a percentage of revenue was 30.6%, compared with 30.1% for the comparable prior-year period. Foreign exchange increased gross profit by $1.9 million to the reported $22.8 million for the 2011 third fiscal quarter.

SG&A for the third fiscal quarter was $17.9 million (26.1% of revenues), an increase of 4.0%, from $17.2 million (26.1% of revenues) reported last year. SG&A, excluding US corporate overhead costs and amortization costs, increased 7.3% of which acquisitions contributed 7.1%, or $1.1 million. Foreign exchange increased costs by $1.5 million to the reported $19.4 million for the 2011 third fiscal quarter.

Operating income for the third quarter of fiscal 2011 increased by 19.1% to $3.1 million from $2.6 million a year ago. Foreign exchange increased operating income by $0.3 million to the reported $3.4 million for the 2011 third fiscal quarter.

Net income attributable to Allied for the third quarter of fiscal 2011 was $2.2 million, or $0.05 per diluted share, compared with $1.6 million, or $0.04 per diluted share, reported during the 2010 third fiscal quarter.

Fiscal Nine Months Results


                Nine Months Ended               Nine Months Ended
                    June 30,                         June 30,
            ------------------------  -------------------------------------
                                 %                                      %
              2011     2010   Change    2011     %      2010     %   Change
            ------------------------  -------------------------------------
                     Revenue                       Gross Profit
            ------------------------  -------------------------------------

(Amounts in
 thousands)
Homecare    $185,656 $171,986    7.9% $ 57,885  31.2% $52,765   30.7%   9.7%
Nursing
 Homes         9,689   13,836  -30.0%    3,092  31.9%   4,447   32.1% -30.5%
Hospitals     12,147   14,840  -18.1%    3,061  25.2%   3,381   22.8%  -9.5%
            -------- -------- ------  --------        -------        ------
Total, at
 constant
 exchange
 rates       207,492  200,662    3.4%   64,038  30.9%  60,593   30.2%   5.7%
Effect of
 foreign
 exchange      5,643        -    2.8%    1,743              -           2.9%
            -------- -------- ------  --------        -------        ------
Total, as
 reported   $213,135 $200,662    6.2% $ 65,781        $60,593           8.6%
            ======== ======== ======  ========        -------        ------




                                             SG&A
                         --------------------------------------------
SG&A, at constant
 exchange rates &
 excluding US Corporate
 Overhead Costs &
 Amortization            $ 51,708           $ 47,227              9.5%
SG&A - US Corporate
 Overhead Costs             2,475              2,423              2.1%
SG&A - Amortization, at
 constant exchange rates      757                952            -20.5%
                         --------           --------         --------
SG&A, at constant
 exchange rates            54,940             50,602              8.6%
Effect of foreign
 exchange                   1,428                  -              2.8%
                         --------           --------         --------
Total SG&A, as reported  $ 56,368           $ 50,602             11.4%
                         --------           --------         --------

                                        Operating Income
                         --------------------------------------------
Operating income, at
 constant exchange rates
 & excluding US
 Corporate Overhead
 Costs & Amortization    $ 12,330           $ 13,366             -7.8%
Operating income - US
 Corporate Overhead
 Costs                     (2,475)            (2,423)            -2.1%
Operating income -
 amortization, at
 constant exchange rates     (757)              (952)            20.5%
                         --------           --------         --------
Operating income, at
 constant exchange rates    9,098              9,991             -8.9%
Effect of foreign
 exchange                     315                  -              3.1%
                         --------           --------         --------
Operating income, as
 reported                $  9,413           $  9,991             -5.8%
                         ========           ========         ========

                                Net Income Attributable to Allied
                         --------------------------------------------
                                    Basic              Basic
                                     and                and
                                   Diluted            Diluted
                                     EPS                EPS
                         --------------------------------------------
Net income attributable
 to Allied               $  5,962 $   0.14  $  7,156 $   0.16
                         ======== ========  ======== ========

For the nine months of fiscal 2011, total revenue increased 3.4% to $207.5 million, compared with $200.7 million reported during the same period in fiscal 2010. Allied's Homecare revenue grew 7.9% to $185.7 million. Acquisitions contributed 9.1%, or $15.7 million, to the Homecare revenue growth. Nursing Homes revenue declined 30.0% to $9.7 million and Hospitals revenue declined 18.1% to $12.1 million. After the favorable impact of currency exchange of $5.6 million, total revenue increased 6.2% year over year to the reported $213.1 million.

Total gross profit for the nine months of fiscal 2011 increased 5.7% to $64.1 million, from $60.6 million for the comparable period in fiscal 2010. Homecare gross profit grew 9.7% to $57.9 million. Acquisitions contributed $4.9 million, or 9.3%, to the growth in Homecare gross profit. Nursing Homes gross profit declined 30.5% to $3.1 million and Hospitals gross profit declined 9.5% to $3.1 million. Gross profit as a percentage of revenue was 30.9%, compared with 30.2% for the comparable prior-year period. Foreign exchange increased gross profit by $1.7 million to the reported $65.8 million for the 2011 nine month period.

SG&A for the nine months of fiscal 2011 was $54.9 million (26.5% of revenues), an increase of 8.6%, from $50.6 million (25.2% of revenues) reported last year. SG&A, excluding US corporate overhead costs and amortization costs, increased 9.5% of which acquisitions contributed 7.1%, or $3.3 million. Foreign exchange increased costs by $1.4 million to the reported $56.3 million for the 2011 nine month period.

Operating income for the nine months of fiscal 2011 decreased by 8.9% to $9.1 million from $10.0 million a year ago. Foreign exchange increased operating income by $0.3 million to the reported $9.4 million for the 2011 nine month period.

Net income attributable to Allied for the nine months of fiscal 2011 was $5.9 million, or $0.14 per diluted share, compared with $7.1 million, or $0.16 per diluted share, reported during the fiscal 2010 nine month period.

The Company ended the quarter with a very strong balance sheet. At June 30, 2011 and September 30, 2010, Allied's cash balance was $40.1 million (£25.0 million) and $39.0 million (£24.7 million), respectively, which represents an increase in the cash balance of $1.1 million (£0.3 million).

For the fiscal nine months ended June 30, 2011, depreciation and amortization was $3.7 million (£2.3 million), and capital expenditures were $3.2 million (£2.0 million). Days Sales Outstanding was 27 days at June 30, 2011 (42 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 third quarter fiscal 2011 revenue increased 4.2% year over year at constant exchange rates, and we have seen a small increase in organic Homecare revenue from the previous quarter. Our Homecare revenue grew by 8.4%, with acquisitions contributing 9.5% to our top line, while organic revenue declined 1.1%. This is a very favorable outcome, given figures quoted within the UK which suggest Local Authority reductions in spending of between 5% and 8%.

"Our gross profit increase of 6.1% year over year at constant exchange rates and our gross margin of 30.6% are very consistent with prior periods. While acquisitions contributed all of the growth, there was no organic decline in Homecare gross profit. SG&A, at constant exchange rates, grew by 4.0%, even after the additional overhead spend of $1.1 million related to our recent acquisitions."

"During the third quarter we have had eight small contract wins and much more significant wins in Hampshire and Oxford. In Hampshire, an area in South West England, we have won a place on a framework contract in the twelve areas we tendered for. The hours for this are not guaranteed but could certainly generate opportunities of up to 5,000 hours of additional care per week. In Oxford, the County Council has decided to outsource more of their service provision, and we have won hours in seven different areas in Oxfordshire that could generate up to 3,200 additional hours per week.

"In June the contract we held with Manchester Local Authority reached its normal termination date, and we decided not to renew. This has been a loss making contract, which was first entered into in November 2007, and during fiscal year 2011 it generated annualized revenues of £1.0 million. Our staff has transferred to the new provider, and we were fortunate to win a new contract in Tameside, part of Manchester, which we expect to make a positive contribution to our future growth."

"During the first week of May, we completed the acquisition of BiJu Limited, a 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."

"As reported last week, we have agreed to pay a deferred consideration to Sue Ryder, a leading charity, who has decided to transfer its social care business to us. The business generated revenue of over £5 million in the last 12 months."

"We are still seeing some tensions with other providers in the UK given the government's spending restrictions, but we consider that our position as a leading health and social care provider is being maintained."

Dr. Jeffrey Peris, Chairman of Allied, commented, "Considering the current economic environment and the UK government's proposed legislation changes, the Board is pleased with management's efforts to mitigate these challenges."

Conference Call Information: August 4, 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 376287. 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     Nine Months Ended
                                 --------------------  --------------------
                                  June 30,   June 30,   June 30,   June 30,
                                    2011       2010       2011       2010
                                 ---------  ---------  ---------  ---------
Revenues:
  Net patient services           $  74,712  $  65,748  $ 213,135  $ 200,662
                                 ---------  ---------  ---------  ---------

Cost of revenues:
  Patient services                  51,849     45,980    147,354    140,069
                                 ---------  ---------  ---------  ---------

    Gross profit                    22,863     19,768     65,781     60,593

    Selling, general and
     administrative expenses        19,432     17,176     56,368     50,602
                                 ---------  ---------  ---------  ---------

Operating income                     3,431      2,592      9,413      9,991

Interest income                         86         84        262        275
Interest expense                       (21)       (10)       (64)       (10)
Foreign exchange loss                  (24)       (46)       (42)      (259)
                                 ---------  ---------  ---------  ---------

    Income before income taxes       3,472      2,620      9,569      9,997

Provision for income taxes           1,056        903      3,120      2,784
                                 ---------  ---------  ---------  ---------

Net income                           2,416      1,717      6,449      7,213

Less: Net income attributable to
 noncontrolling interest              (221)       (57)      (487)       (57)
                                 ---------  ---------  ---------  ---------

Net income attributable to
 Allied Healthcare International
 Inc.                            $   2,195  $   1,660  $   5,962  $   7,156
                                 =========  =========  =========  =========


Basic net income per share
 attributable to Allied
 Healthcare International Inc.
 common shareholders             $    0.05  $    0.04  $    0.14  $    0.16
                                 =========  =========  =========  =========

Diluted net income per share
 attributable to Allied
 Healthcare International Inc.
 common shareholders             $    0.05  $    0.04  $    0.14  $    0.16
                                 =========  =========  =========  =========

Weighted average number of
 common shares outstanding:
    Basic                           43,571     45,045     43,571     45,102
                                 =========  =========  =========  =========
    Diluted                         43,837     45,269     43,843     45,363
                                 =========  =========  =========  =========


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

                                                June 30,      September 30,
                                                   2011            2010
                                             --------------  --------------
                                               (Unaudited)

                   ASSETS

Current assets:
  Cash and cash equivalents                  $       40,090  $       39,031
  Accounts receivable, less allowance for
   doubtful accounts of $870 and $732,
   respectively                                      22,387          20,092
  Unbilled accounts receivable                       12,575          13,393
  Deferred income taxes                                 509             552
  Prepaid expenses and other assets                   2,185           1,943
                                             --------------  --------------

      Total current assets                           77,746          75,011

Property and equipment, net                           9,042           8,924
Goodwill                                            109,907         102,945
Other intangible assets, net                          2,771           3,501
                                             --------------  --------------

      Total assets                           $      199,466  $      190,381
                                             ==============  ==============

    LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:
  Accounts payable                           $        1,491  $        1,581
  Current maturities of debt and capital
   leases                                               682             614
  Accrued expenses, inclusive of payroll and
   related expenses                                  26,698          25,897
  Taxes payable                                       2,558           2,310
                                             --------------  --------------

      Total current liabilities                      31,429          30,402

Long-term debt and capital leases, net of
 current maturities                                     172             389
Deferred income taxes                                 1,410           1,534
Other long-term liabilities                               -             308
                                             --------------  --------------

      Total liabilities                              33,011          32,633
                                             --------------  --------------

Commitments and contingencies (Note 10)

Noncontrolling interest (Note 5)                      4,902           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                        242,879         242,478
  Accumulated other comprehensive loss              (13,467)        (15,267)
  Accumulated deficit                               (62,196)        (68,158)
                                             --------------  --------------
                                                    167,673         159,510
  Less cost of treasury stock (2,150 shares)         (6,120)         (6,120)
                                             --------------  --------------

      Total shareholders' equity                    161,553         153,390
                                             --------------  --------------
      Total liabilities and shareholders'
       equity                                $      199,466  $      190,381
                                             ==============  ==============


ALLIED HEALTHCARE INTERNATIONAL INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
                                                    Nine Months Ended
                                                 June 30,        June 30,
                                                   2011            2010
                                             --------------  --------------
Cash flows from operating activities:
  Net income                                 $        6,449  $        7,213
  Adjustments to reconcile net income to net
   cash provided by operating activities:
    Depreciation and amortization                     2,875           2,242
    Amortization of intangible assets                   778             952
    Foreign exchange gain                                (6)             (2)
    Increase (decrease) in provision for
     allowance for doubtful accounts                    184             (24)
    Loss (gain) on sale of fixed assets                  19              (2)
    Stock based compensation                            401             471
    Deferred income taxes                                49             102
  Changes in operating assets and
   liabilities, excluding the effect of
   businesses acquired and sold:
    Increase in accounts receivable                    (863)           (335)
    Decrease in prepaid expenses and other
     assets                                             909             671
    (Decrease) increase in accounts payable
     and other liabilities                           (1,936)          1,693
                                             --------------  --------------

      Net cash provided by operating
       activities                                     8,859          12,981
                                             --------------  --------------

Cash flows from investing activities:
  Capital expenditures                               (3,172)         (2,428)
  Acquisition of controlling interest, net
   of cash acquired                                     (60)         (5,812)
  Payments for acquisitions - net of cash
   acquired                                          (2,626)              -
  Proceeds from sale of property and
   equipment                                              8              62
                                             --------------  --------------

      Net cash used in investing activities          (5,850)         (8,178)
                                             --------------  --------------

Cash flows from financing activities:
  Repayments of debt and capital lease
   obligations                                       (2,661)           (121)
  Borrowings under invoice discounting
   facility, net                                        117             248
  Treasury shares acquired                                -          (1,317)
  Stock options exercised                                 -             288
                                             --------------  --------------

      Net cash used in financing activities          (2,544)           (902)
                                             --------------  --------------

Effect of exchange rate on cash                         594          (2,220)
                                             --------------  --------------

Increase in cash                                      1,059           1,681

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

Cash and cash equivalents, end of period     $       40,090  $       36,954
                                             ==============  ==============

Supplemental cash flow information:
  Cash paid for interest                     $           64  $           10
                                             ==============  ==============

  Cash paid for income taxes, net            $        3,332  $        1,025
                                             ==============  ==============

Supplemental disclosure of non-cash
 investing and financing activities:
  Capital expenditures included in accrued
   expenses and other long-term liabilities  $          312  $          609
                                             ==============  ==============

  Details of business acquired in purchase
   transactions:
    Fair value of assets acquired            $        7,921  $       12,430
                                             ==============  ==============

    Liabilities assumed or incurred          $        3,635  $        2,694
                                             ==============  ==============

    Noncontrolling interest                  $            -  $        3,888
                                             ==============  ==============

    Cash paid for acquisitions               $        3,368  $        5,848
    Cash acquired                                       682              36
                                             --------------  --------------
    Net cash paid for acquisitions           $        2,686  $        5,812
                                             ==============  ==============

    Deferred acquisition payment             $          918  $            -
                                             ==============  ==============


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

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

Homecare             £41,547 £38,543 £38,745 £39,255 £38,323 £35,860 £35,903
Nursing Homes          1,734   2,088   2,379   3,048   2,731   2,864   3,261
Hospitals              2,548   2,607   2,620   3,114   2,933   3,235   3,330
                     ------- ------- ------- ------- ------- ------- -------
Total                £45,829 £43,238 £43,744 £45,417 £43,987 £41,959 £42,494
Foreign Exchange
 rate                   1.63    1.60    1.58    1.55    1.49    1.56    1.63
                     ------- ------- ------- ------- ------- ------- -------
                     $74,712 $69,224 $69,199 $70,417 $65,748 $65,530 $69,384
                     ======= ======= ======= ======= ======= ======= =======

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

Homecare             £12,793 £12,163 £12,095 £12,188 £11,651 £11,083 £11,041
Nursing Homes            556     663     760   1,002     882     931   1,033
Hospitals                672     655     633     812     696     755     712
                     ------- ------- ------- ------- ------- ------- -------
Total                £14,021 £13,481 £13,488 £14,002 £13,229 £12,769 £12,786
Foreign Exchange
 rate                   1.63    1.60    1.58    1.55    1.49    1.56    1.63
                     ------- ------- ------- ------- ------- ------- -------
                     $22,863 $21,581 $21,337 $21,712 $19,768 $19,948 $20,877
                     ------- ------- ------- ------- ------- ------- -------

SG&A - Foreign
 Operations -
 Organic             £10,332 £10,146 £10,101 £10,126  £9,962  £9,786  £9,856
SG&A - Foreign
 Operations -
 Acquisitions          1,015     773     612     586     265       -       -
SG&A - Foreign
 Operations -
 Acquisition Costs        27      92       -      94     361       -       -
                     ------- ------- ------- ------- ------- ------- -------
SG&A - Foreign
 Operations - Total   11,374  11,011  10,713  10,806  10,588   9,786   9,856
SG&A - US Corporate      428     438     677     719     660     485     406
SG&A - Amortization      113     174     197     240     218     193     199
                     ------- ------- ------- ------- ------- ------- -------
Total                £11,915 £11,623 £11,587 £11,765 £11,466 £10,464 £10,461
Foreign Exchange
 rate                   1.63    1.60    1.58    1.55    1.49    1.56    1.63
                     ------- ------- ------- ------- ------- ------- -------
                     $19,432 $18,606 $18,330 $18,244 $17,176 $16,346 $17,080
                     ------- ------- ------- ------- ------- ------- -------

Operating Income -
 Foreign Operations   £2,647  £2,470  £2,775  £3,196  £2,641  £2,983  £2,930
Operating Loss - US
 Corporate             (428)   (438)   (677)   (719)   (660)   (485)   (406)
Operating Loss -
 Amortization          (113)   (174)   (197)   (240)   (218)   (193)   (199)
                     ------- ------- ------- ------- ------- ------- -------
Total                 £2,106  £1,858  £1,901  £2,237  £1,763  £2,305  £2,325
Foreign Exchange
 rate                   1.63    1.60    1.58    1.55    1.49    1.56    1.63
                     ------- ------- ------- ------- ------- ------- -------
                      $3,431  $2,975  $3,007  $3,468  $2,592  $3,602  $3,797
                     ======= ======= ======= ======= ======= ======= =======

Back to AHCI
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki