AMICAS Reports Financial Results for the Fourth Quarter and Year Ended Decembe...(ing capital of $69.5 million. Fiscal ...),Health
ing capital of $69.5 million.
Fiscal Year Financial Highlights
Revenue: Total revenues for the year ended December 31, 2007, were $49.9 million compared to $49.4 million for the year ended December 31, 2006.
Operating Income/Loss: Operating loss for the year ended December 31, 2007, was $4.5 million compared to an operating loss of $4.9 million for the year ended December 31, 2006.
Net Income/Loss: The Company's net loss from continuing operations for the year ended December 31, 2007, was $862,000, or $(0.02) per share, compared to a net loss from continuing operations of $1.3 million, or $(0.03) per share, for the year ended December 31, 2006.
For the year ended December 31, 2007, both operating loss and net loss from continuing operations included $1.9 million of stock-based compensation expense and $3.1 million of depreciation and amortization. For the year ended December 31, 2006, both operating loss and net loss from continuing operations included $0.5 million of non-recurring charges, $1.8 million of stock-based compensation expense, and $3.2 million of depreciation and amortization.
Cash Flow: For the year ended December 31, 2007, net cash provided by operations was $7.0 million as compared to net cash provided by operations of $3.6 million for the year ended December 31, 2006.
Stock Repurchase: During the fourth quarter of 2007, the Board of Directors directed the Company to initiate a $25.0 million stock repurchase plan. The Company repurchased approximately 301,000 shares of its common stock for approximately $0.8 million in the last quarter of 2007. 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 AMICAS Board of Directors under the prior plan.
Business Perspective
Dr. Stephen Kahane, president, chief executive officer, and chairman of
AMICAS, said
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| SOURCE AMICAS, Inc. Copyright©2008 PR Newswire. All rights reserved |
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