American Medical Alert Corporation Reports Increase in Top Line Growth with Release of First Quarter 2005 Results; Company Continues Trend of Increased Revenue Growth and Strong Balance Sheet.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 home health monitoring technologies, announced today the operating results for the quarter ended March 31, 2005. Revenues for the quarter ended March 31, 2005, consisting primarily of monthly 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. 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 15% to $5,238,570 as compared to $4,553,478 for the same period in 2004. Net income for the quarter ended March 31, 2005 was $226,499 or $.03 per 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. share as compared to $179,802 or $.02 per diluted share in the first quarter of 2004. The company ended the quarter with a cash balance of $3,869,521 and had working capital of $7,155,421 as of March 31, 2005. Howard M. Siegel, Chief Executive Officer commented, "We are pleased to report AMAC has delivered a quarter of solid financial results. The Company's progress was particularly driven this quarter by a 32% increase in revenues in our Telephone Answering Service answering service n. A business service that answers its clients' telephone calls and conveys messages to the clients. ("TAS TAS abbr. 1. telephone answering system 2. true airspeed ") segment, 24% of which was a result of internal growth primarily due to the development and execution of our "Daytime Daytime may refer to:
" TAS services offering." Further, Siegel stated, "The Company continues to actively pursue opportunities to migrate its core PERS a. 1. Light blue; grayish blue; - a term applied to different shades at different periods. customer base to a more comprehensive at-home Telehealth/ Disease Management Monitoring capability." About American Medical Alert Corp. AMAC is a national provider of remote health monitoring devices and 24/7 communication services designed to promote early medical intervention A procedure used in a lawsuit by which the court allows a third person who was not originally a party to the suit to become a party, by joining with either the plaintiff or the defendant. and improve quality of life for senior, disabled and chronically ill populations. AMAC's product and service offerings include Personal Emergency Response Systems (PERS), electronic medication reminder devices, disease management monitoring appliances and 24/7 medical on-call on-call Hospital practice adjective Referring to a status in which a physician can be reached and arrive at the hospital within 30 mins of being paged and emergency response monitoring. AMAC operates several national medical On-Call and communication centers allowing access to trained response professionals 24/7. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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-QSB, 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, our expansion plans and product liability risks. Statements of income for the three months ended March 31, 2005 and 2004 and balance sheets as of March 31, 2005 and December 31, 2004 are attached.
AMAC SELECTED FINANCIAL DATA
3/31/2005 3/31/2004
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Revenues $5,238,570 $4,553,478
Net Income $226,499 $179,802
Net Income per Share
Basic $0.03 $0.02
Diluted $0.03 $0.02
Basic Weighted Average
Shares Outstanding 8,096,557 7,717,805
Diluted Weighted Average
Shares Outstanding 8,879,144 8,196,113
CONDENSED BALANCE SHEET
March 31, December 31,
2005 2004
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(Unaudited)
ASSETS
Current Assets $9,485,677 $8,177,928
Fixed Assets - Net 6,631,218 7,046,925
Other Assets 4,367,747 4,414,163
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Total Assets $20,484,642 $19,639,016
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LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities $2,330,256 $2,335,701
Deferred Income Tax 1,122,000 1,099,000
Long-term Debt 416,789 496,444
Long-term Capital Lease - 24,458
Other Liabilities 388,014 405,514
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Total Liabilities $4,257,059 $4,361,117
Stockholders' Equity 16,227,583 15,277,899
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Total Liabilities and Stockholders'
Equity $20,484,642 $19,639,016
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