American Medical Alert Corporation Reports Strong Fourth Quarter and Year End 2005 Results; Company Realizes Significant Expansion in Service Revenue Through Acquisitions and Organic Growth.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 fourth quarter and year ended December 31, 2005. Revenues for the fourth quarter of 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 29.4% to $6,286,496 as compared to $4,857,890 for the same period in 2004. Fourth quarter net income was $227,255, or $0.02 per diluted share, as compared to a net loss of $199,526, or ($0.02) per diluted share for fourth quarter of 2004. Revenues for the year ended December 31, 2005 increased 17.4% to $22,447,642, as compared to $19,128,003 for the same period in 2004. Net income was $932,436 or $0.10 per diluted share as compared to a net income of $410,606 or $0.05 per diluted share for the previous year. Cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses in 2005 increased to $4,195,759 as compared to $4,025,504 in the previous year. The Company ended the year with a cash balance of $2,638,984 and had working capital of $3,847,997 as of December 31, 2005. As a result of its expanded revenue growth, primarily derived from its 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) segment, the Company is pleased to report it exceeded its revenue forecast for 2005. Throughout 2005, the Company realized growth in each of its primary operating segments. The 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 (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 ) unit executed two key agreements with McKesson Corporation to provide remote patient monitoring technology for its Mississippi Medicare Health Support program and most recently launched the co-marketing program for the exclusive distribution of AMAC's PERS a. 1. Light blue; grayish blue; - a term applied to different shades at different periods. and 24/7 monitoring services The general surveillance of known air traffic movements by reference to a radar scope presentation or other means, for the purpose of passing advisory information concerning conflicting traffic or providing navigational assistance. as a complement to McKesson's telehealth product offering. Further, the Company continued to realize noteworthy growth from increased subscriber utilization of PERS through its national provider network. During 2005, the telephony based communication services ("TBCS") unit experienced unprecedented expansion; acquiring three strategic TBCS companies encompassing five communication centers. Concurrently, this segment continues to experience impressive organic growth as a result of the success of its recently developed daytime service offering. With the TBCS acquisitions, including its latest in March 2006, combined with its organic growth, the Company is generating an annual run rate in the TBCS segment of more than $15.0 million in revenue versus approximately $7.5 million reported in 2005. As part of its long-term business expansion strategy, the Company invested in additional personnel in the TBCS segment to prepare for a significant contract for its daytime service offering, which commenced in January 2006. In addition to this expansion, the Company accelerated the exchange program of certain PERS equipment. Although these investments caused a moderate shortfall from its earnings forecast, the Company believes it will be beneficial to the ongoing operations. Howard M. Siegel, AMAC's chief executive officer, commented, "We are pleased with the results for 2005, particularly as it relates to the traction we have made in our revenue base. We view the upcoming year with optimism -- our continued pursuit towards greater operational efficiencies and momentum allows us to further accelerate our business strategies in our primary operating segments. We anticipate additional growth in our primary segments in 2006, with organic growth and additional acquisitions in the TBCS segment, while additional health management products and service offerings in the HSMS segment are planned for rollout within next twelve months." 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) 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:
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, 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 year ended and three months ended December 31, 2005 and 2004 and balance sheets as of December 31, 2005 and 2004 are attached.
SELECTED FINANCIAL DATA
Year Ended Three Months Ended
12/31/2005 12/31/2004 12/31/2005 12/31/2004
------------ ------------ ------------ -----------
Revenues $22,447,642 $19,128,003 $ 6,286,496 $4,857,890
Net Income (loss) $ 932,436 $ 410,606 $ 227,255 $ (199,526)
Net Income per Share
Basic $ 0.11 $ 0.05 $ 0.03 $ (0.02)
Diluted $ 0.10 $ 0.05 $ 0.02 $ (0.02)
Basic Weighted
Average Shares
Outstanding 8,452,435 7,903,267 8,698,794 8,024,195
Diluted Weighted
Average Shares
Outstanding 9,124,905 8,478,824 9,296,921 8,637,475
CONDENSED BALANCE SHEET
December 31, December 31,
2005 2004
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ASSETS
Current Assets $ 8,343,781 $ 8,177,928
Fixed Assets - Net 7,810,658 7,046,925
Other Assets 10,440,897 4,276,163
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Total Assets $26,595,336 $19,501,016
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LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities $4,495,784 $2,335,701
Deferred Income Tax 971,000 961,000
Long-term Debt 2,429,396 496,444
Long-term Capital
Lease - 24,458
Other Liabilities 315,230 405,514
------------ ------------
Total Liabilities $ 8,211,410 $ 4,223,117
Stockholders' Equity 18,383,926 15,277,899
------------ ------------
Total Liabilities and
Stockholders' Equity $26,595,336 $19,501,016
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