American Medical Alert Corporation Reports Second Quarter 2006 Results; Company realizes strong revenue growth of 44% for the three months ended June 30, 2006.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 and six months ended June 30, 2006. Revenues for the quarter ended June 30, 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 44% to $7,796,317 as compared to $5,427,324 for the same period in 2005. Net income for the quarter ended June 30, 2006 was $244,776 or $.03 per diluted share as compared to $275,781 or $.03 per diluted share for the same period in 2005. Revenues for the six months ended June 30, 2006 increased 40% to $14,946,528, as compared to $10,665,894 for the same period in 2005. Net income was $524,543 or $0.06 per diluted share as compared to a net income of $502,280 or $0.06 per diluted share for the previous year. 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 June 30, 2006 and 2005 was $954,699 and $532,564, respectively. 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 six months ended June 30, 2006 increased 14% to $2,769,774 as compared to $2,437,533 for the same period in 2005. EBITDA for the trailing twelve months ended June 30, 2006 and 2005 was $5,244,983 and $4,129,536, respectively, a 27% increase. 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. Howard M. Siegel, Chairman and Chief Executive Officer commented, "The value of the Company's diversified business model provides the opportunity to invest in our business, allowing us to maintain and grow our market position in each business unit. The TBCS TBCS The Bear Creek School TBCS The Best Case Scenario TBCS Tampa Bay Club Sport TBCS Traverse Bay Community School (Michigan) TBCS Thread-Based Composite System TBCS Tabora Beekeepers' Co-operative Society (Tanzania) division is making significant progress to integrate technologies to foster company-wide cross platform expansion in support of our primary goal to become the dominant provider of medically oriented, call center solutions. The second quarter also marked the completion of management's consolidation of our 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 engineering and fulfillment capability to the Long Island City operations hub from which additional efficiencies are anticipated. We further believe ongoing developments in technology will create new opportunities to increase traction within the HSMS division." About American Medical Alert Corp. 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 a. 1. Light blue; grayish blue; - a term applied to different shades at different periods. ) 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:
Use of Non-GAAP Financial Information 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. 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 cash flow to make acquisitions, reinvest re·in·vest tr.v. re·in·vest·ed, re·in·vest·ing, re·in·vests To invest (capital or earnings) again, especially to invest (income from securities or funds) in additional shares. 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. 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. Forward Looking Statements 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-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 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 and product liability risks. Statements of income for the three and six months ended June 30, 2006 and 2005 and balance sheets as of June 30, 2006 and December 31, 2005 are attached.
AMAC SELECTED FINANCIAL DATA
Three Months Ended Six Months Ended
6/30/2006 6/30/2005 6/30/2006 6/30/2005
----------- ----------- ------------ -----------
Revenues $7,796,317 $5,427,324 $14,946,528 $10,665,894
Net Income $244,776 $275,781 $524,543 $502,280
Net Income per Share
Basic $0.03 $0.03 $0.06 $0.06
Diluted $0.03 $0.03 $0.06 $0.06
Basic Weighted Average
Shares Outstanding 8,924,786 8,397,848 8,849,678 8,247,202
Diluted Weighted
Average
Shares Outstanding 9,429,125 9,045,989 9,350,339 8,962,567
CONDENSED BALANCE SHEET
June 30, December 31,
2006 2005
------------ ------------
(Unaudited)
ASSETS
Current Assets $8,410,326 $8,343,781
Fixed Assets - Net 9,041,751 7,810,658
Other Assets 13,475,675 10,440,897
------------ ------------
Total Assets $30,927,752 $26,595,336
============ ============
LIABILITIES AND
STOCKHOLDERS' EQUITY
Current Liabilities $5,723,512 $4,495,784
Deferred Income Tax 1,028,000 971,000
Long-term Debt 3,997,452 2,429,396
Long-term Capital
Lease - 190,230
Other Liabilities 527,315 125,000
------------ ------------
Total Liabilities $11,276,279 $8,211,410
Stockholders' Equity 19,651,473 18,383,926
------------ ------------
Total Liabilities and
Stockholders' Equity $30,927,752 $26,595,336
============ ============
Earnings before interest, taxes and depreciation and amortization
for the six months and trailing twelve months ended June 30, 2006 and
2005.
Add: Less:
6/30/06 12/31/2005 Subtotal 6/30/2005 Total
---------- ----------- ---------- ----------
Net Income 524,543 932,436 1,456,979 502,280 954,699
Add Backs:
Taxes 448,000 866,000 1,314,000 463,000 851,000
Interest 175,748 52,638 228,386 23,088 205,298
Depreciation
& Amort. 1,621,483 3,061,668 4,683,151 1,449,165 3,233,986
---------- ----------
EBITDA 2,769,774 5,244,983
========== ==========
Add: Less:
6/30/05 12/31/2004 Subtotal 6/30/2004 Total
---------- ----------- ---------- ----------
Net Income 502,280 410,606 912,886 380,322 532,564
Add Backs:
Taxes 463,000 398,000 861,000 375,000 486,000
Interest 23,088 58,184 81,272 31,251 50,021
Depreciation
& Amort. 1,449,165 3,071,424 4,520,589 1,459,638 3,060,951
---------- ----------
EBITDA 2,437,533 4,129,536
========== ==========
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