American Medical Alert announces third quarter revenues.OCEANSIDE, N.Y.--(BUSINESS WIRE)--Nov. 2, 1994--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 ) reported revenues for the nine months ending Sept. 30, 1994 of $3,890,960 up from $2,908,414 for the same period in 1993, an increase of 33%. Income before cumulative effect of accounting change for the nine months ending Sept. 30, 1994 was $560,575 up from $216,128 for the same period in 1993. Per share earnings increased to 10 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. vs. 4 cents per share in 1993, an increase of 150%. Third quarter revenues for the three months ending Sept. 30, 1994 were $1,401,287 up from $1,014,889 for the same period in 1993, an increase of 38%. Net income for the three months ending Sept. 30, 1994 was $292,860 up from $86,319 for the same period in 1993. Per share earnings increased to 5 cents per share vs. 2 cents per share in 1993, an increase of 150%. For the eight consecutive quarter, service revenues increased as a result of improved private pay sales and reimbursed program usage. Third quarter shipments were slower than expected, primarily due to the cyclical cyclical Of or relating to a variable, such as housing starts, car sales, or the price of a certain stock, that is subject to regular or irregular up-and-down movements. nature of new construction start-ups. These shipments have been rescheduled to first quarter 1995. Retirement and Assisted Living as·sist·ed living n. A living arrangement in which people with special needs, especially older people with disabilities, reside in a facility that provides help with everyday tasks such as bathing, dressing, and taking medication. Facility sales remain strong. Continued fine tuning Fine Tuning is the name of XM Satellite Radio's eclectic music channel. The program director for Fine Tuning is Ben Smith. The channel is described as "A musical oasis for the sophisticated listener culled from every imaginable genre and country. of American Medical Alert Corp.'s work force and the introduction of certain automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. accounting functions enabled the company to further reduce operating costs operating costs npl → gastos mpl operacionales . The company's re-engineered Models 500 and 1000 Table Top and Flush To empty the contents of a memory buffer. See buffer. Flush Elizabeth Barrett Browning’s spaniel, subject of a biography. [Br. Lit.: Woolf Flush in Barnhart, 446] See : Dogs (data) flush Mounted "VOICE OF HELP(R)" systems are scheduled for production by year's end. These upgraded modular systems now offer retirement community management many new facility controls and operational options, while adding several important "user friendly" features. These and other planned redesigns will create a competitive price advantage for the company's products as well as create homecare patient service monitoring opportunities.
AMERICAN MEDICAL ALERT CORP.
CONDENSED STATEMENTS OF INCOME
(Unaudited)
Three Months Ended Sept. 30,
1994 1993
Revenues:
Services $1,206,891 $792,755
Product Sales 194,396 222,134
--------- --------
1,401,287 1,014,889
Cost and Expenses (Income):
Costs related to services 374,503 285,733
Costs of products sold 68,292 147,521
Selling, general and
administrative expenses 456,812 451,110
Interest expense 14,626 1,605
Gain on insurance recovery 0 (1,900)
Other income (172) (2,040)
---------- ---------
914,061 882,029
Income before provision for income
taxes 487,226 132,860
Provision for income taxes (Note A) 194,366 46,541
NET INCOME $292,860 $86,319
Net Income per share $.05 $.02
Weighted Average number of common
shares outstanding (Note B) 5,748,901 5,634,250
Note A: The provision for income tax expense for the three months ended Sept. 30, 1994 was $194,366 of which $28,366 and $166,000 is current and deferred tax expense, respectively. Note B: Income per share is computed using the weighted average number of shares issued and committed for issuance during each period. In 1994 and 1993 the dilutive effect Dilutive effect Result of a transaction that decreases earnings per common share (EPS). of outstanding options was included in the weighted average number of common shares. CONTACT: American Medical Alert Corp. Fred Siegel Fred Siegel is a senior fellow at the Progressive Policy Institute (a center-left think tank closely affiliated with the Democratic Leadership Council) who focuses on urban policy and politics. , 800/645-3244 |
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