Pro-forma EBITDA: For the first six months of 2008, pro-forma EBITDA was $464,000 as compared to $418,000 for the same period in 2007.
Cash Flow: For the first six months of 2008, net cash provided by operations was $1.3 million.
Stock Repurchase: During the fourth quarter of 2007, the Board of Directors directed the Company to initiate a $25 million stock repurchase plan. The Company repurchased approximately 6,586,000 shares of its common stock for approximately $17.1 million in the second quarter of 2008. The Company has repurchased approximately 8,568,000 shares for approximately $22.5 million in total under this program. Under a previously authorized stock repurchase plan, during 2006, the Company repurchased 4.5 million shares of its common stock for approximately $15.0 million, the total amount authorized by the Board of Directors under the prior plan.
Dr. Stephen Kahane, president, chief executive officer, and chairman of
AMICAS, said, "We had our best second quarter in the past several years.
Bookings were solid and revenue growth was ahead of our plan. Once again,
we maintained positive cash flow from operations while building our
business through significant investments in both innovative research and
development programs and important distribution initiatives. Similar to the
last few quarters, the second quarter resulted in several large radiology
groups making the decision to use AMICAS products as the basis for their
automation infrastructure going forward. Over the past nine months, AMICAS
has been able to sign several very sophisticated and informed radiology
groups and imaging service providers. We will continue to work hard to help
these new partners succeed and to make sure others follow in their
footsteps. Our top-flight solutions, which include the latest in
teleradiology technology, PACS, RIS, revenue cycle management, business
intelligence, and zero client referring
|SOURCE AMICAS, Inc.|
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