AMERICAN HEALTH SERVICES CORP. ANNOUNCES FIRST QUARTER RESULTS.NEWPORT BEACH Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. , Calif.--(BUSINESS WIRE)--May 16, 1996--AMERICAN HEALTH SERVICES health services Managed care The benefits covered under a health contract CORP. (OTC/BB: AHTS AHTS Anchor Handling Tug Supply AHTS Anchor Handling Towing Supply Vessel AHTS Anchor Handling Tug Support (vessel) ) today announced results for the first quarter ended March 31, 1996. Revenues for the quarter ended March 31, 1996 were $8,677,000 compared to revenues of $9,358,000 reported in the first three months of fiscal 1995. For the period, the Company reported a net loss of $361,000, or $0.04 per share, compared to a net loss of $283,000, or $0.03 per share, for the same period in 1995. The decrease in reported revenues of approximately $681,000 is due primarily to the sale or closure of six centers, offset by increased revenues generated by a majority of the Company's existing centers. The registration statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the mergers of the Company and Maxum Health Corp. ("Maxum") with subsidiaries of InSight Health Services Corp. was declared effective on May 9, 1996 and proxy materials Proxy Materials Documents regulated by the Securities & Exchange Commission in which a public company outlines its methods and procedures. These documents are used to inform shareholders and solicit votes for corporate decisions, such as the election of directors and other have been mailed to stockholders of the Company and Maxum. If the mergers are approved by the stockholders of the Company and Maxum at meetings scheduled for June 25, 1996 and other conditions to closing are satisfied at the times currently anticipated, the Company expects that the mergers will occur before the end of June 1996. AMERICAN HEALTH American Health Inc. is a company that manufactures health supplements. It is located in Holbrook, New York. One of its products is labeled the "Chewable Original Papaya Enzyme" with the attached registered trademark, "The 'After Meal Supplement'". SERVICES CORP. develops and operates diagnostic imaging and Gamma Knife Gamma Knife A trademark for a radiologic nonsurgical device used in stereotactic radiosurgery. Gamma knife A surgical tool that focuses beams of radiation at the head, which converge in the brain to form a lesion. radiosurgery radiosurgery /ra·dio·sur·gery/ (-ser´jer-e) surgery in which tissue destruction is performed by means of ionizing radiation rather than by surgical incision. treatment centers affiliated with healthcare providers and is one of the largest operators of fixed-site, hospital-based diagnostic imaging centers in the United States.
AMERICAN HEALTH SERVICES CORP.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended March 31,
1996 1995
Revenues $ 8,676,944 $ 9,357,901 Expenses Center expenses 6,794,946 7,705,466 Provision for center Profit distributions 202,457 179,468 Income from center operations 1,679,541 1,472,967 Corporate operating expenses 1,026,164 829,895 Income from operations before interest 653,377 643,072 Interest income and other 43,036 41,267 Interest expense (1,057,799) (966,873) Net income (loss) $ (361,386) $ (282,534) Earnings (loss) per common share $ (0.04) $ (0.03) The information contained herein was obtained from the Management of AMERICAN HEALTH SERVICES CORP. and other sources deemed to be reliable. This does not constitute the solicitation of the purchase or sale of securities. Lippert/Heilshorn & Associates, Inc. is employed by the Company as its investor relations Investor relations The process by which the corporation communicates with its investors. firm and the firm or its officers may have a position in the securities of this client Company. CONTACT: Lippert/Heilshorn & Associates Julie Vicelja/Keith Lippert, 212/838-3777 or AMERICAN HEALTH SERVICES CORP. Thomas V. Croal, 714/476-0733 |
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