Ages Health Services announces first quarter results.ROCKLAND, Mass.--(BUSINESS WIRE)--Feb. 6, 1996--Ages Health Services health services Managed care The benefits covered under a health contract Inc. (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 : AHSI AHSI African Human Security Initiative AHSI Alternative High School Initiative AHSI Arabian Horse Society of Iowa AHSI Arkansas History Summer Institute , AHSIW) announced its first quarter results for fiscal 1996. The company reported a profit for the quarter after two years of losses. Net revenues increased 24 percent to $1,895,914 from $1,535,644 in the prior year period. Gross profit increased 55 percent from the prior year period. Cost of services and general and administrative expenses as a percentage of revenues decreased 8 percent and 19 percent, respectively, from the prior year period. Selected Operating Information (in thousands of dollars, except share and per share data)
Three Months Ended
Dec. 31,
1995 1994 % Change
(unaudited)
Operations: Net patient service revenues 1,896 1,536 24% Gross profit on patient services 562 363 55% Pretax income (loss) from continuing operations 12 (160) Earnings per share: Net gain (loss) per share of common stock -- ($0.07) Number of share of common stock outstanding 2,580,100 2,580,100 Anders Laren, chief executive officer of the company, commented, "Ages' management is committed to achieving improved earnings this year while maintaining growth and the quality of our services. These results reflect the progress of the company's reorganization efforts in the past year which focused on reducing cost of services and general and administrative expenses as a percentage of revenues. Our first quarter results are a positive step toward this goal." Ages Health Services Inc. is a leader in helping nursing homes and rest homes in Massachusetts, Connecticut and Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. meet the behavioral health Behavioral health was first used in the 1980's to name the combination of the fields mental health and substance abuse. As an example, an organization serving both mental health and substance abuse clients might refer to its practice as behavioral health or needs of their residents. Ages provides care through multidisciplinary mul·ti·dis·ci·pli·nar·y adj. Of, relating to, or making use of several disciplines at once: a multidisciplinary approach to teaching. teams of psychologists, social workers, psychotherapists, psychiatrists This list includes notable psychiatrists. Individuals listed below are all physicians, and are board certified by the American Board of Psychiatry and Neurology, or are members of the American Psychiatric Association, or the Royal College of Psychiatrists in the United Kingdom, or , nurse practitioners nurse practitioner n. Abbr. NP A registered nurse with special training for providing primary health care, including many tasks customarily performed by a physician. and psychiatric psy·chi·at·ric adj. Of or relating to psychiatry. psychiatric adjective Pertaining to psychiatry, mental disorders Nurses. Ages also serves the behavioral health needs of other populations through its outpatient services outpatient services Hospital-based services Managed care Medical and other services provided, to a nonadmitted Pt, by a hospital or other qualified facility–eg, mental health clinic, rural health clinic, mobile X-ray unit, free-standing dialysis unit Examples division.
AGES HEALTH SERVICES
Condensed Balance Sheets
(in thousands of dollars)
Dec. 31, Sept. 30,
1995 1995
(unaudited)
Assets
Cash and cash equivalents $1,996 $2,092
Other current assets 2,104 1,998
Total current assets 4,100 4,090
Property and equipment, net 229 224
Intangeable assets, net 21 45
Other assets 20 20
---- ----
$4,370 $4,379
Liabilities and stockholders' equity
Current liabilities $2,395 $2,413
Long-term debt, less current
portion 382 397
Other liabilities 25 25
Stockholders equity 1,568 1,544
---- ----
$4,370 $4,379
CONTACT: Ages Health Services Inc., Rockland Anders Laren, 617/871-6550, Ext. 139 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion