AMAC To Incur Non-Recurring Charge to Modify Certain PERS Units.OCEANSIDE, N.Y. -- American Medical Alert Corporation (Nasdaq: AMAC AMAC Adults Molested As Children AMAC Assistance to Mine-Affected Communities AMAC Aircraft Monitor And Control AMAC Approximate Message Authentication Code AMAC American Military Arms Corporation AMAC Asset Management Assistance Center ), a national provider of home health monitoring appliances and 24-hour healthcare communication services, today announced it will realize a non-recurring charge of approximately $1.5 million for costs it expects to incur to upgrade certain versions of its Personal Emergency Response Systems ("PERS a. 1. Light blue; grayish blue; - a term applied to different shades at different periods. ") and related equipment. The amount of the charge is subject to adjustment either upward or downward based predominately upon how closely the Company can align the exchange program with its normal equipment refurbishment re·fur·bish tr.v. re·fur·bished, re·fur·bish·ing, re·fur·bish·es To make clean, bright, or fresh again; renovate. re·fur and replacement program. The Company has not yet determined over what period(s) the charge will be recorded. The Company has determined that certain versions of its PERS equipment emit TO EMIT. To put out; to send forth, 2. The tenth section of the first article of the constitution, contains various prohibitions, among which is the following: No state shall emit bills of credit. levels of radio frequency energy that exceed applicable standards designed to reduce the possibility of interference with radio communications. Although this issue poses no safety or functionality risk to subscribers, the Company plans to work with its provider agencies to facilitate this technical upgrade through an exchange program. The Company is working with the Federal Communications Commission Federal Communications Commission (FCC), independent executive agency of the U.S. government established in 1934 to regulate interstate and foreign communications in the public interest. to assure that all of its PERS equipment satisfies all applicable standards and regulations. Management believes the Company will continue to generate sufficient cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses to satisfy its anticipated obligation associated with this exchange program. Anticipated costs include material, shipping and labor costs for the equipment upgrade, inventory provisions for service providers to facilitate the exchange program and costs associated with in-field visits to perform exchanges in AMAC's local service areas. Howard Siegel, Chief Executive Officer, speaking on behalf of AMAC stated: "We believe the Company's exchange program is an effective method to upgrade the affected systems and ensure compliance. We are working closely with our local service providers to make the exchange program a seamless event. Notwithstanding this non-recurring charge, the Company expects to continue the execution of its business plan in its Telehealth, PERS and Telephone Answering Service answering service n. A business service that answers its clients' telephone calls and conveys messages to the clients. businesses." About American Medical Alert Corp. AMAC is a national provider of remote health monitoring devices and 24/7 communication services designed to promote early medical intervention and improve quality of life for senior, disabled and chronically ill populations. AMAC's product and service offerings include Personal Emergency Response Systems (PERS), electronic medication reminder devices, disease management monitoring appliances and 24/7 medical on-call and emergency response monitoring. AMAC operates several National Medical On-Call and Communication Centers allowing access to trained response professionals 24/7. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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," "project," "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 this press release and the Company's filings with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 10-KSB, the Company's Quarterly Reports on Forms 10-QSB, and other filings and releases. These include uncertainties relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc government regulation, technological changes, our expansion plans, our contract with the City of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and product liability risks. |
|
||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion