AMAC reports results of third quarter ended September 30, 1996.OCEANSIDE Oceanside. 1 City (1990 pop. 128,398), San Diego co., S Calif., on the Gulf of Santa Catalina; inc. 1888. It is a commercial and trading center for an inland farm area and for nearby Camp Pendleton, a huge U.S. marine corps amphibious base. , N.Y.--(BUSINESS WIRE)--October 24, 1996--American Medical Alert Corp., (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : 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 leading provider of Personal Emergency Response Systems (PERS a. 1. Light blue; grayish blue; - a term applied to different shades at different periods. ), announced record financial results for the third quarter and the nine months ended September September: see month. 30, 1996. Continued expansion of AMAC's subscriber base and the commitment to recurring re·cur intr.v. re·curred, re·cur·ring, re·curs 1. To happen, come up, or show up again or repeatedly. 2. To return to one's attention or memory. 3. To return in thought or discourse. service revenues and increases in product sales contributed to increased earnings for the third quarter. Net earnings for the three months ended September 30, 1996 were $293,720, a 22% increase from $240,300 and earnings per share for the quarter were $.05 vs. $.04 for the same period in 1995. Revenues for the three months ended September 30, 1996 were $1,954,076 an 11% increase from $1,760,021 for the same period in 1995. Net earnings for the nine months ended September 30, 1996 were $790,979, a 27% increase from $622,619 and earnings per share for the nine months ended September 30, 1996 were $.14 vs. $.11 for the same period in 1995. Revenues for the nine months ended September 30, 1996 were $5,477,092 a 20% increase from $4,553,514 for the same period in 1995. Howard Siegel, chairman and president of AMAC, said, "The company is well positioned and on track to continue its emergence in the rapidly expanding PERS market place and is pleased with increased revenues and growth. AMAC continues its commitment to provide products that contribute to HELPING PEOPLE LIVE BETTER. Increasing service revenues reflect AMAC's expansion of the company's recurring revenue bases, inclusive of inclusive of prep. Taking into consideration or account; including. monthly monitoring, leasing, and rental services. The ongoing growth of our recurring revenue base is expected to continue while achieving higher operating margins Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: ." Mr. Siegel also noted that, "Management believes that potential opportunities presented by the emerging dominance of the health care market place by managed care organizations will represent significant and dynamic opportunities for the company." American Medical Alert Corp. is engaged in the manufacturing, marketing and monitoring of Personal Emergency Response Systems (PERS). PERS enables users to transmit To send data over a communications line. See transfer. a distress signal to a monitoring center by activating a variety of transmitters. The coded signal initiates a two-way voice communication between the subscriber and a trained operator at the Company's monitoring center. The company markets its PERS in the U.S. to health maintenance organizations, state social service agencies, directly to consumers, hospitals, home healthcare providers, ambulance companies and licensed distributors. PERS usage is expanding on a national basis as additional parties have begun to reimburse re·im·burse tr.v. re·im·bursed, re·im·burs·ing, re·im·burs·es 1. To repay (money spent); refund. 2. To pay back or compensate (another party) for money spent or losses incurred. PERS related expenses. -0-
American Medical Alert Corporation
Summary of Consolidated Financial Information
(Unaudited)
Three Months Ended Nine Months Ended
September 30 September 30
1996 1995 1996 1995
Revenues $1,954,076 $1,760,021 $5,477,092 $4,553,514
Net income $ 293,720 $ 240,300 $ 790,979 $ 622,619
Earnings per share $0.05 $0.04 $0.14 $0.11
Weighted average
number of common
shares
outstanding 5,921,582 5,961,037 5,837,120 5,866,058
CONTACT: American Medical Alert Corp. Catherine A. Nelson, 516/536-5850 (ext. 203) |
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