American Medical Alert reports financial results.OCEANSIDE Oceanside. 1 City (1990 pop. 128,398), San Diego co., S Calif., on the Gulf of Santa Catalina; inc. 1888. It is a commercial and trading center for an inland farm area and for nearby Camp Pendleton, a huge U.S. marine corps amphibious base. , N.Y.--(BUSINESS WIRE)--August 3, 1995--American Medical Alert Corp. (Nasdaq: 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 ) today reported its results for the second quarter and six months ended June 30, 1995. Revenue increased 12% to $2,793,493 for the six months ended June 30, 1995 from $2,489,673 for the six months ended June 30, 1994. The increase resulted primarily from continued expansion of the company's customer base for monthly monitoring and leasing services. Service revenues increased 20% for the six months ended June 30, 1995 to $2,509,331 from $2,096,034 for the comparable 1994 period. Revenue for the three months ended June 30, 1995 increased by 4% to $1,522,870 from $1,469,299 for the three months ended June 30, 1994. Revenue growth during the second quarter of 1995 was affected by delays in product shipments to retirement communities who are behind in their scheduled construction of new facilities. As a result, product sales for the three months ended June 30, 1995 were $175,807 compared to $322,063 for the same period in 1994. The company expects to make delivery of its product backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. during the third and fourth quarters. Net income for the six months ended June 30, 1995 was $382,319, or $0.07 per share, an increase of 43% from net income of $267,715 for the six months ended June 30, 1994, or $0.05 per share. Net income was $214,911 and $236,765 for the three months ended June 30, 1995 and 1994, respectively. Second quarter 1995 net income was affected by the decline in product sales and a write-off Write-Off A reduction in the value of an asset or earnings by the amount of an expense or loss. Companies are able to write off certain expenses that are required to run the business, or have been incurred in the operation of the business and detract from retained revenues. of unrecoverable and unrepairable units. American Medical Alert is engaged in manufacturing, marketing and monitoring of personal emergency response systems ("PERS a. 1. Light blue; grayish blue; - a term applied to different shades at different periods. "). PERS enables users, including the elderly and disabled, to transmit To send data over a communications line. See transfer. a distress signal to a monitoring center by pressing a button on a portable transmitter A device that generates signals. Contrast with receiver. . The coded distress signal initiates a two-way voice communication between the subscriber and a receiver at a monitoring center, avoiding the need for the user to get to a telephone. The company markets its PERS in the U.S. to state social service agencies and directly to the consumer, through hospital, home healthcare agencies, ambulance companies and licensed distributors. PERS usage is expanding on a national basis as additional parties have begun to reimburse re·im·burse tr.v. re·im·bursed, re·im·burs·ing, re·im·burs·es 1. To repay (money spent); refund. 2. To pay back or compensate (another party) for money spent or losses incurred. PERS related expenses, including federal Medicaid Medicaid, national health insurance program in the United States for low-income persons; established in 1965 with passage of the Social Security Amendments and now run by the Centers for Medicare and Medicaid Services. programs, several state Medicaid programs and private insurance companies. -0-
American Medical Alert Corp.
Summary of Consolidated Financial Information
(Unaudited)
Six Months Ended Three Months Ended
June 30, June 30,
1995 1994 1995 1994
Revenues $2,793,493 $2,489,673 $1,522,870 $1,469,299 Net income $382,319 $267,715 $214,911 $236,765 Earnings per share $0.07 $0.05 $0.04 $0.04 Weighted average number of common shares outstanding 5,833,436 5,812,632 5,870,233 5,817,821 CONTACT: American Medical Alert Corp. Cathy Nelson, 516/536-5850, ext. 103 |
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