Printer Friendly

AMSERV HEALTHCARE REPORTS THIRD QUARTER RESULTS

 SAN DIEGO, April 28 /PRNewswire/ -- AMSERV HEALTHCARE INC. (NASDAQ: AMSR), today reported sales from continuing operations of $5,126,000 for its third quarter of fiscal 1993 ended March 31, 1993, compared with sales of $3,475,000 in the third quarter of fiscal 1992. The company had a loss from continuing operations of $87,000, or 3 cents per share, compared with a loss from continuing operations of $50,000, or 2 cents per share, in the same period a year ago.
 The company's net loss for the third quarter was also $87,000, or 3 cents per share, compared with net income of $1,274,000, or 41 cents per share in the third quarter of fiscal 1992, which included $102,000, or 4 cents per share in net income from discontinued operations, and $1,222,000, or 39 cents per share from a gain on the disposal of discontinued operations.
 For the nine months ended March 31, 1993, sales from continuing operations were $14,124,000, compared with $11,868,000 in the comparable period last year. The company's loss from continuing operations for the period was $282,000, or 9 cents per share, compared with income from continuing operations of $32,000, or 1 cent per share, for the same period last year.
 The company's net loss for the first nine months was also $282,000, or 9 cents per share, compared with net income of $1,624,000, or 52 cents per share for the same period last year, which included $370,000, or 12 cents per share from discontinued operations, and $1,222,000, or 39 cents per share from a gain on the disposal of discontinued operations.
 "The sales increase for the quarter was the result of our MED-PRO acquisition in the first quarter, as well as higher sales from home care services," said Gene Mora, AMSERV chairman and CEO. "Decreased demand for temporary nurses contributed to lower than expected operating results for the quarter."
 AMSERV HEALTHCARE INC. is a national healthcare services company with offices in 15 cities and nine states. The company provides home care services for individuals, and nursing personnel for healthcare facilities.
 AMSERV HEALTHCARE INC.
 CONSOLIDATED OPERATING RESULTS
 (Unaudited)
 (000)
 Three months ended Nine months ended
 March 31, March 31,
 1993 1992 1993 1992
 Net sales $ 5,126 $3,475 $14,124 $11,868
 Operating expenses:
 Selling, general and
 administrative 5,137 3,424 14,196 11,485
 Depreciation & amortization 147 119 432 354
 Operating income (loss) (158) (68) (504) 29
 Interest, net 26 6 70 11
 Income (loss) from continuing
 operations before
 income taxes (132) (62) (434) 40
 Income tax provision (benefit) (45) (12) (152) 8
 Income (loss) from
 continuing operations (87) (50) (282) 32
 Discontinued operations:
 Income from discontinued
 operations, net of
 income taxes - 102 - 370
 Gain on disposal of
 discontinued operations, net
 of income taxes - 1,222 - 1,222
 Net income (loss) $ (87) $1,274 $ (282) $ 1,624
 Income (loss) per share:
 Income (loss) from
 continuing operations $ (.03) $ (.02) $ (.09) $ .01
 Income from discontinued
 operations - .04 - .12
 Gain on disposal of
 discontinued operations - .39 - .39
 Net income (loss) $ (.03) $ .41 $ (.09) $ .52
 Average shares outstanding 2,945 3,137 2,993 3,132
 CONSOLIDATED BALANCE SHEETS March 31, June 30,
 1993 1992
 Assets:
 Current assets $5,075 $6,206
 Property and equipment, net 454 325
 Other assets 2,671 2,327
 Total assets $8,200 $8,858
 Liabilities and Shareholders' Equity:
 Current liabilities $1,714 $1,414
 Other liabilities 47 745
 Shareholders' equity 6,439 6,699
 Total liabilities and
 shareholders' equity $8,200 $8,858
 -0- 4/28/93
 /CONTACT: Jack Falker , Swenson Falker Eilertsen Inc., 612-371-0000; or Leslie Hodge, AMSERV HEALTHCARE (619) 597-1000/
 (AMSR)


CO: AMSERV HEALTHCARE INC. ST: California IN: MTC SU: ERN

KH -- MN016 -- 2272 04/28/93 16:43 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 28, 1993
Words:639
Previous Article:HARMON REPORTS COMPLETION OF PUBLIC OFFERING
Next Article:WALLIN TO JOIN GALAGEN BOARD
Topics:


Related Articles
AMSERV HEALTHCARE REPORTS SMALL FIRST QUARTER LOSS FROM CONTINUING OPERATIONS
UNITED HEALTHCARE REPORTS RECORD THIRD QUARTER
AMSERV HEALTHCARE REPORTS SECOND QUARTER RESULTS
AMSERV HEALTHCARE SIGNS LETTER OF INTENT
SHAREHOLDER GROUP ACQUIRES 5.03% OF AMSERV HEALTHCARE; PLANS TO PURSUE BUSINESS COMBINATION DISCUSSIONS WITH AMSERV
COLUMBIA/HCA REPORTS EPS OF $.61 FOR 3Q 1995 VS $.49 LAST YEAR EPS GROWTH OF 25% BEFORE EXTRAORDINARY LOSSES ON EXTINGUISHMENT OF DEBT
Kuala Healthcare, Inc. Reports Fiscal 1998 Third Quarter and Nine Month Financial Results
America Service Group Reports Record E.P.S.
Matria Healthcare Announces Third Quarter Results.
CoreCare Systems, Inc. Reports Profitable Third Quarter; Company Reports Fifth Consecutive Profitable Quarter.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters