American Medical Alert Corporation Reports First Quarter 2006 Results; Company Realizes Revenue Growth of 36.5% and 23.5% Increase in Earnings as Its Growth Strategy Continues to Show Solid Results.OCEANSIDE, N.Y. -- 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 provider of healthcare communication services and advanced telehealth monitoring technologies, today announced operating results for the quarter ended March 31, 2006. E[acute accent acute accent n. A mark (´) indicating: a. that a vowel is close or tense, as é in French été. b. that a vowel or syllable has a high or rising pitch, as in Chinese or Ancient Greek. c. ]Revenues for the quarter ended March 31, 2006, consisting primarily of monthly recurring revenues (MRR MRR Model Railroader Magazine MRR Master Resale Rights MRR Maximum Rock'n'Roll (print zine) MRR Material Removal Rate MRR Monthly Recurring Revenue MRR Mean Reciprocal Rank MRR Mark Release Recapture ), increased 36.5% to $7,150,211 as compared to $5,238,570 for the same period in 2005. Net income for the quarter ended March 31, 2006 increased 23.5% to $279,767 or $0.03 per diluted share compared to $226,499 or $0.03 per diluted share for the same period in 2005. Net Income for the trailing twelve months In commerce, the trailing twelve months (TTM) is a moving measurement (for example, an average or a sum) over the 12 previous months, using the most recent data available. Also sometimes known as last twelve months (LTM). ended March 31, 2006 and 2005 was $985,704 and $457,303, respectively. E[acute accent]Earnings before interest, taxes and depreciation EBITD is an initialism or acronym for Earnings Before Interest, Taxes and Depreciation. See EBITDA. Some people find it useful to know this value for a business. and amortization ("EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become ") for the quarter ended March 31, 2006 increased 16.8% to $1,358,855 as compared to $1,163,239 for the same period in 2005. EBITDA for the trailing twelve months ended March 31, 2006 and 2005 was $5,108,358 and $4,016,958, respectively, a 27.2% increase. E[acute accent]The Company affirms its guidance issued on March 30, 2006 that gross revenues, consisting primarily of monthly recurring revenue (MRR), will increase by 34% to $30,000,000 while also projecting a 29% increase in earnings to $1,200,000 for the year ending December 31, 2006. This projection does not assume any contribution to anticipated results from future acquisitions. E[acute accent]Howard M. Siegel, AMAC's Chief Executive Officer, commented, "We continue to observe the beneficial effects of our roll-up strategy of Telephone Answering Services and our migration from a basic PERS a. 1. Light blue; grayish blue; - a term applied to different shades at different periods. product offering to a comprehensive telehealth offering. We also expect to achieve improved gross profit margins Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. through the consolidation of both our fulfillment and engineering facilities into the new centralized operation in Long Island City, 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 by the end of 2006. Mr. Siegel further commented, "AMAC is committed to expanding its health and safety monitoring Safety Monitoring of a clinical trial is conducted by an independent physician with relevant expertise. This is accomplished by review of adverse event, immediately after they occur, with timely follow-up through resolution. services division (HSMS HSMS Hazardous Substance Management System HSMS Hierarchical Storage Management System HSMS High Speed Messaging Service (semiconductor equipment communications standard; associated with GEM/SECS) HSMS Hierarchical Storage Management Software ) to include call-center-based, health and disease management services as an adjunct component of its remote patient monitoring platform. This expansion is expected to allow AMAC to compete more effectively for business from a broader spectrum of organizations involved in the management and care of chronic disease." E[acute accent]About American Medical Alert Corp. E[acute accent]AMAC is a healthcare communications company Communications Company is a communications unit of the United States Marine Corps. They are part of Combat Logistics Regiment 37 , 3rd Marine Logistics Group (3MLG) and III Marine Expeditionary Force (III MEF). The unit is based out of the Marine Corps Base Camp Smedley D. dedicated to the provision of support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services to the healthcare community. AMAC's product and service portfolio includes Personal Emergency Response Systems (PERS) and emergency response monitoring, electronic medication reminder devices, disease management monitoring appliances and healthcare communication solutions services. AMAC operates seven communication centers under local trade names: HLINK OnCall, Long Island City, NY, North Shore TAS TAS abbr. 1. telephone answering system 2. true airspeed , Port Jefferson Port Jefferson is the name of some places in the United States of America:
E[acute accent]Use of Non-GAAP Financial Information E[acute accent]In addition to the results reported in accordance with accounting principles generally accepted in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. ("GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). ") included in this press release, the Company has provided information regarding certain non-GAAP financial measure. This measure is "earnings before interest, taxes and depreciation and amortization ("EBITDA")". Such information is reconciled to its closest GAAP measure in accordance with the Securities and Exchange Commission rules Securities and Exchange Commission Rules Rules enacted by the SEC to assist in the regulation of US financial markets. and is included in the attached supplemental data. E[acute accent]Management believes that the non-GAAP financial measure used in this press release is useful to both management and investors in their analysis of the Company's financial position and results of operations. Management believes that EBITDA is a useful measure of the Company's financial performance as it is an indicator of the Company's ability to generate cashflow to make acquisitions, reinvest in new telehealth products and liquidate To pay and settle the amount of a debt; to convert assets to cash; to aggregate the assets of an insolvent enterprise and calculate its liabilities in order to settle with the debtors and the creditors and apportion the remaining assets, if any, among the stockholders or owners of the liabilities. Management also uses EBITDA for planning purposes to determine appropriate levels of operating and capital investments. E[acute accent]EBITDA is a non-GAAP financial measure and although management and some members of the investment community utilize it to measure financial performance, EBITDA should not be viewed as a substitute for financial data prepared in accordance with GAAP or as a measure of profitability. Additionally, the non-GAAP financial measure as presented by AMAC may not be comparable to similarly titled measures reported by other companies. E[acute accent]Forward Looking Statements E[acute accent]This press release contains forward-looking statements 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," "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 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-Q, 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, costs relating to ongoing FCC (1) (Federal Communications Commission, Washington, DC, www.fcc.gov) The U.S. government agency that regulates interstate and international communications including wire, cable, radio, TV and satellite. The FCC was created under the U.S. remediation efforts, our expansion plans, our contract with the City of New York and product liability risks. E[acute accent]Statements of income for the three months ended March 31, 2006 and 2005 and balance sheets as of March 31, 2006 and December 31, 2005 are attached.
AMAC SELECTED FINANCIAL DATA
3/31/2006 3/31/2005
----------- ------------
Revenues $7,150,211 $5,238,570
Net Income $279,767 $226,499
Net Income per Share
Basic $0.03 $0.03
Diluted $0.03 $0.03
Basic Weighted Average
Shares Outstanding 8,774,571 8,096,557
Diluted Weighted Average
Shares Outstanding 9,271,554 8,879,144
CONDENSED BALANCE SHEET
March 31, December 31,
2006 2005
------------ ------------
(Unaudited)
ASSETS
Current Assets $8,177,848 $8,343,781
Fixed Assets - Net 8,644,085 7,810,658
Other Assets 13,709,405 10,440,897
------------ ------------
Total Assets $30,531,338 $26,595,336
============ ============
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities $5,540,178 $4,495,784
Deferred Income Tax 1,037,000 971,000
Long-term Debt 4,275,562 2,429,396
Other Liabilities 457,168 315,230
------------ ------------
Total Liabilities $11,309,908 $8,211,410
Stockholders' Equity 19,221,430 18,383,926
------------ ------------
Total Liabilities and Stockholders'
Equity $30,531,338 $26,595,336
============ ============
Earnings before interest, taxes and depreciation and amortization
for the three months and trailing twelve months ended March 31, 2006
and 2005.
Add: Less:
3/31/06 12/31/2005 Subtotal 3/31/2005 Total
---------- ----------- ---------- ----------
Net Income 279,767 932,436 1,212,203 226,499 985,704
Add Backs:
Taxes 238,000 866,000 1,104,000 210,000 894,000
Interest 62,042 52,638 114,680 12,404 102,276
Depreciation
& Amort. 779,046 3,061,668 3,840,714 714,336 3,126,378
---------- ----------
EBITDA 1,358,855 5,108,358
========== ==========
Add: Less:
3/31/05 12/31/2004 Subtotal 3/31/2004 Total
---------- ----------- ---------- ----------
Net Income 226,499 410,606 637,105 179,802 457,303
Add Backs:
Taxes 210,000 398,000 608,000 175,000 433,000
Interest 12,404 58,184 70,588 15,917 54,671
Depreciation
& Amort. 714,336 3,071,424 3,785,760 713,776 3,071,984
---------- ----------
EBITDA 1,163,239 4,016,958
========== ==========
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