AmeriHealth Reports the Mailing of its Proxy Statement and Third Quarter Results.ATLANTA--(BUSINESS WIRE)--November 15, 1994--AmeriHealth Inc. (AMEX AMEX See: American Stock Exchange :AHH AHH AllHipHop.com (website) AHH Aryl Hydrocarbon Hydroxylase AHH Arizona Heart Hospital AHH Ace's Happy Homepage AHH Adaptive Hard Handoff ) today announced that it has mailed its Notice of Annual Stockholders Meeting and Proxy Statement Proxy Statement A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting. for the Annual Stockholders Meeting to be held on December 6, 1994. At this meeting, the stockholders will be asked to vote upon a proposal to approve the Merger of the Company and Champion Healthcare Corp. The Company also announced the financial results for the quarter and nine months ended September 30, 1994. The Company reported third quarter income of $2,000, which resulted in no gain or loss per share, on total revenues of $10,471,000, compared with a net loss of $254,000, or a loss of $0.03 per share, on total revenues of $10,639,000 for the comparable quarter in 1993. For the nine months ended September 30, 1994, total revenues were $32,270,000 versus $33,673,000 in the same period last year. Net income was $482,000, or $0.03 per share, for the most recent nine month period versus $1,608,000, or $0.10 per share for the same period last year. Assuming full dilution Dilution A reduction in earnings per share of common stock that occurs through the issuance of additional shares or the conversion of convertible securities. Notes: Adding to the number of shares outstanding reduces the value of holdings of existing shareholders. , the Company reported income of $0.09 per share for the nine months ended September 30, 1993. Operating results for the first nine months of 1993 included a benefit of $1,298,000 ($0.10 and $0.07 per share on a primary and fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. basis, respectively) from the cumulative effect of a change in accounting for income taxes. AmeriHealth and Champion Healthcare Corp., a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. , previously announced the execution of a definitive agreement to merge, subject to stockholder approval, with AmeriHealth being the surviving entity; however, the new company will be re-named Champion Healthcare Corp. with its corporate offices located in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the . The Company expects that the common stock of the new company will be traded on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. . Founded in 1983, AmeriHealth Inc. now owns, manages or provides consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" to 13 hospitals and other healthcare facilities in Alabama Alabama, indigenous people of North America Alabama (ăləbăm`ə), indigenous people of North America whose language belongs to the Muskogean branch of the Hokan-Siouan linguistic stock (see Native American languages). , Georgia, Pennsylvania, Texas and Virginia. Champion Healthcare Corp. was founded in 1990. It is headquartered in Houston, and currently owns and operates three full service acute care hospitals in Texas and North Dakota North Dakota, state in the N central United States. It is bordered by Minnesota, across the Red River of the North (E), South Dakota (S), Montana (W), and the Canadian provinces of Saskatchewan and Manitoba (N). and two free-standing psychiatric hospitals psychiatric hospital n. A hospital for the care and treatment of patients affected with acute or chronic mental illness. Also called mental hospital. located in Missouri and Louisiana. Following the merger with AmeriHealth, Champion will own and operate seven hospitals and one nursing home located in six states, with a total of 944 licensed beds. -0-
AmeriHealth Inc.
Unaudited Financial Highlights
(In thousands, except per share data)
Three Months Ended Nine Months Ended
September 30, September 30,
1994 1993 1994 1993
Total operating revenues $10,471 $10,639 $32,270 $33,673
Income (loss) before income
taxes and cumulative effect
of a change in accounting
for income taxes 21 (417) 756 510
(Provision) benefit for
income taxes (19) 163 (274) (200)
Income (loss) before cumulative
effect of a change in accounting
for income taxes 2 (254) 482 310
Cumulative effect of a change in
accounting for income taxes -- -- -- 1,298
Net income (loss) $ 2 $ (254) $ 482 $ 1,608
Net income (loss) $ 2 $ (254) $ 482 $ 1,608
Series B Preferred Stock
dividend requirements (27) (89) (82) (264)
Net (loss) income applicable
to Common Stock $ (25) $ (343) $ 400 $ 1,344
(Loss) income per common share:
(Loss) income before cumulative
effect of a change in
accounting for income taxes $(0.00) $(0.03) $ 0.03 $ 0.00
Cumulative effect of a change
in accounting for income taxes -- -- -- 0.10
(Loss) income per share $(0.00) $(0.03) $ 0.03 $ 0.10
Income per common share
assuming full dilution(a):
Income before cumulative
effect of a change in
accounting for income taxes $ 0.02
Cumulative effect of a change
in accounting for income taxes $ 0.07
Income per share assuming full dilution $ 0.09
(a) Fully diluted per share information was not presented for the quarters ended September 30, 1993 and 1994 due to antidilutive effects Antidilutive effect Result of a transaction that increases earnings per common share (e.g., by decreasing the number of shares outstanding). of such calculation. Primary and fully diluted per share information was the same for the nine months ended September 30, 1994; accordingly, fully diluted per share information was not presented. CONTACT: AmeriHealth Inc.
William G. White or
Kenneth D. Hawkins
404/953-9600
|
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion