American Shared Hospital Services Announces Fourth Quarter and 1997 Fiscal Year End Financial Results.SAN FRANCISCO--(BW HealthWire)--March 24, 1998--American Shared Hospital Services (AMEX AMEX See: American Stock Exchange :AMS AMS - Andrew Message System )(PCX (1) A bitmapped graphics file format that handles monochrome, 2-bit, 4-bit, 8-bit and 24-bit color and uses RLE to achieve compression ratios of approximately 1.1:1 to 1.5:1. Images with large blocks of solid colors compress best under the RLE method. See PC Paintbrush. :AMS) Tuesday announced financial results for the three months and for the fiscal year ended Dec. 31, 1997. For the three months ended Dec. 31, 1997, the Company reported unaudited net income of $505,000 or $0.11 per share, compared with net income of $59,000 or $0.01 per share in the same period last year. For the three months ended Dec. 31, 1997, the Company reported unaudited revenues of $9,470,000, compared with revenues of $9,264,000 in the 1996 fourth quarter. For the fiscal year ended Dec. 31, 1997, the Company reported audited net income of $1,522,000 or $0.32 per share, compared with a net loss of $353,000 ($0.08 per share) in fiscal year 1996. Audited revenues for the fiscal year ended Dec. 31, 1997 were $37,172,000, compared with revenues of $36,989,000 in 1996. Ernest A. Bates Bates , Katherine Lee 1859-1929. American educator and writer best known for her poem "America the Beautiful," written in 1893 and revised in 1904 and 1911. , M.D., chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of American Shared said: "Our 1997 Operating Profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. of $1,522,000 is our best since 1988. We announced on March 12 that we have signed a definitive agreement to sell our medical diagnostic imaging assets to Alliance Imaging for a price which includes $13.5 million in cash. The cash from that transaction will give American Shared added capital for continued growth of our Gamma Knife Gamma Knife A trademark for a radiologic nonsurgical device used in stereotactic radiosurgery. Gamma knife A surgical tool that focuses beams of radiation at the head, which converge in the brain to form a lesion. business." American Shared Hospital Services is a diversified medical services company, with interests in mobile and shared diagnostic imaging, insurance services and (through its 81% equity interest in GK Financing LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ) radiosurgery radiosurgery /ra·dio·sur·gery/ (-ser´jer-e) surgery in which tissue destruction is performed by means of ionizing radiation rather than by surgical incision. services. Headquarters are in San Francisco. -0-
American Shared Hospital Services
Financial Results
Unaudited
Three months ended
Dec. 31,
1997 1996
Revenues $9,470,000 $9,264,000
Net income (loss) $ 505,000 $ 59,000
Basic Earnings per share:
Net income (loss) $0.11 $0.01
Shares used in calculation
of EPS-Basic 4,769,000 4,769,000
Diluted Earnings per share:
Net income (loss) $0.08 $0.01
Shares used in Calculation of
EPS-Diluted 6,446,000 6,375,000
Audited
Year ended
Dec. 31,
1997 1996
Revenues $37,172,000 $36,989,000
Net income (loss) $1,522,000 ($353,000)
Basic Earnings per share:
Net income (loss) $0.32 ($0.08)
Shares used in calculation
of EPS-Basic 4,769,000 4,498,000
Diluted Earnings per share:
Net income (loss) $0.24 ($0.08)
Shares used in Calculation of
EPS-Diluted 6,343,000 4,498,000
CONTACT: American Shared Hospital Services, San Francisco Richard Magary, 415/788-5300 M-F M-F Monday Through Friday , 8-6 pacific 415/658-8003 (after hours) 415/431-2359 (home) www.ashs.com |
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