Navigation Links
AMICAS Appoints Joseph D. Hill to Its Board of Directors and Promotes Kevin C. Burns to Senior Vice President and Chief Financial Officer

Company reaffirms 2008 financial guidance

BOSTON, March 24 /PRNewswire-FirstCall/ -- AMICAS, Inc. (Nasdaq: AMCS), a leader in radiology and medical image and information management solutions, announced today that the board of directors has appointed Joseph D. Hill to AMICAS' board of directors while accepting his resignation as senior vice president and chief financial officer. In addition, the company has promoted Kevin C. Burns as senior vice president and chief financial officer. These changes will be effective April 4, 2008.

(Logo: )

"AMICAS is very appreciative of Joe's contributions. He is a very experienced and capable chief financial officer," said Stephen Kahane, MD, president, chief executive officer, and chairman of AMICAS. "Joe has provided tremendous financial leadership and he has been instrumental in helping position AMICAS for continued solid performance. We are excited to have Joe as a member of our board of directors."

Burns Promoted to Chief Financial Officer

"AMICAS has a very strong management team that will continue to guide the company," continued Dr. Kahane. "Kevin's extensive operational and financial management background, combined with his tenure as AMICAS' vice president of finance and corporate development, provides AMICAS with proven financial leadership. We look forward to Kevin's ongoing contributions to building a leading image and information management solutions company."

Burns brings more than 15 years of experience in finance and operations, across a variety of publicly traded high technology companies, to the position of chief financial officer. Burns joined AMICAS in 2004 and was most recently vice president of finance and corporate development, where he was responsible for corporate planning and analysis, commercial operations, and corporate development initiatives. Prior to joining AMICAS, Burns was a controller and responsible for financial planning and analysis at publicly traded NMS Communications, a solutions provider for mobile applications in wireless networks. Previously, Mr. Burns was director of corporate development at Demantra, Inc. and he has also held senior management positions in finance and strategic planning at MAPICS, Inc., a public software company that experienced significant growth and was ultimately sold to a multi-national company. He holds an MBA from the F.W. Olin Graduate School of Business at Babson College and a bachelor of science from Babson College.

2008 Guidance

AMICAS is reaffirming its previously provided guidance for 2008 with revenues expected to be between $52 million and $54 million, with pro-forma EBITDA expected to be between $1.0 million and $1.5 million, which is consistent with a net loss of approximately ($0.02) per share. EBITDA, a non- GAAP financial measure, refers to Net Income, adjusted for Amortization, Depreciation, Interest, and Stock Compensation expense.

A reconciliation of Net Income determined under GAAP to EBITDA is included below. Management believes that its EBITDA measurement, when viewed in addition to the Company's reported GAAP results, provides an additional meaningful measure of operating performance, enabling investors to more thoroughly evaluate current performance in comparison to past performance. This information will necessarily differ from comparable information that may be provided by other companies and should not be considered in isolation or as an alternative to the Company's operating and other financial information determined under GAAP.

Combining a market where imaging businesses continue to embrace automation as part of the response to the DRA with the combination of new product introductions already in progress, AMICAS expects 2008 bookings growth of between 10 to 20 percent. Bookings are defined as contractual commitments from customers for licenses, services, hardware, and maintenance/support.

About AMICAS, Inc.

AMICAS, Inc. ( is a leader in radiology and medical image and information management solutions. The AMICAS(R) Vision Series(TM) products provide a complete, end-to-end solution for imaging centers, ambulatory care facilities, and radiology practices. Acute care and hospital clients are provided with a fully integrated, hospital information system- independent PACS that features advanced enterprise workflow support and scalable design. Complementing the Vision Series product family is AMICAS Insight(TM) Solutions, a set of client-centered professional and consulting services that assist our customers with a well-planned transition to a digital enterprise.

Reconciliation of projected net loss to projected 2008 Projected

(in thousands) Lower Upper

EBITDA Range Range

Projected net loss $(1,350) $(850)

Interest income 3,000 3,000

Operating loss (4,350) (3,850)

Non-cash stock compensation expense 1,816 1,816

Depreciation and amortization 1,286 1,286

Amortization of software development costs 2,286 2,286

Projected EBITDA 1,037 1,537


Aine Cryts, Marketing Communications Manager


Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. AMICAS to Present at Thomas Weisel Partners Healthcare Conference 2007
2. AMICAS Hosts Complimentary DRA Education Session Featuring Timothy Trysla
3. AMICAS to Present at William Blair & Company Small Cap Growth Stock Conference
4. AMICAS Schedules Third Quarter Earnings Call
5. Radiology Ltd. Chooses AMICAS as End-to-End Solutions Provider
6. Webcast Alert: AMICAS, Inc. Announces 3rd Quarter 2007 Earnings Conference Call
7. AMICAS Launches Vision Reach 2.0, a Tool to Help Radiology Businesses Grow
8. AMICAS Transforms Critical Results Notification with RadStream
9. AMICAS Solutions Closing the Loop in Radiology Communications
10. MedQuest Standardizes on AMICAS Vision Series PACS
11. AMICAS to Present at UBS Global Healthcare Services Conference
Post Your Comments:
(Date:6/26/2016)... ... June 26, 2016 , ... PawPaws brand pet supplements owned by ... to enhance the health of felines. The formula is all-natural and is made from ... the PawPaws Cat Kidney Support Supplement Soft Chews are Astragalus Root Extract ...
(Date:6/26/2016)... ... June 26, 2016 , ... Many women are ... with endometriosis. These women need a treatment plan to not only alleviate symptoms ... can help for preservation of fertility and ultimately achieving a pregnancy. The specialists ...
(Date:6/25/2016)... ... 25, 2016 , ... Austin residents seeking Mohs surgery services, can now turn ... to Dr. Russell Peckham for medical and surgical dermatology. , Dr. Dorsey brings specialization ... selective fellowship in Mohs Micrographic Surgery completed by Dr. Dorsey was under the direction ...
(Date:6/25/2016)... , ... June 25, 2016 , ... "With 30 hand-drawn ... specific project," said Christina Austin - CEO of Pixel Film Studios. , ProHand ... all within Final Cut Pro X . Simply select a ProHand generator and ...
(Date:6/25/2016)... ... June 25, 2016 , ... As a lifelong Southern Californian, ... and his M.D from the David Geffen School of Medicine at UCLA. He trained ... Angeles to complete his fellowship in hematology/oncology at the UCLA-Olive View-Cedars Sinai program where ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... -- Research and Markets has announced the addition ... - Forecast to 2022" report to their offering. ... to date financial data derived from varied research sources to ... potential impact on the market during the next five years, ... of sub markets, regional and country level analysis. The report ...
(Date:6/23/2016)... , June 23, 2016 Bracket , ... launch its next generation clinical outcomes platform, Bracket eCOA (SM) ... held on June 26 – 30, 2016 in ... first electronic Clinical Outcome Assessment product of its kind to ... #715. Bracket eCOA 6.0 is a flexible platform ...
(Date:6/23/2016)... and BOGOTA, Colombia , June 23, 2016  Astellas today announced the establishment of Astellas ... Brasil as the company,s second affiliate in Latin America . ... ... of Astellas Farma Colombia ... ...
Breaking Medicine Technology: