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Allied Healthcare Reports Second Quarter Loss
Date:2/10/2009

ST. LOUIS, Feb. 10 /PRNewswire-FirstCall/ -- Allied Healthcare Products Inc. (Nasdaq: AHPI) reported that its net income for the second quarter ending December 31, 2008, declined from about $6,500, or zero cents per share in the prior year period, to a loss of about $436,000, or a negative 6 cents per share, primarily because of lower sales volume in the current year period.

Net sales for the second quarter fell about 8 percent, or almost $1.1 million, to about $12.5 million. The sales decline reflects two major factors. The first factor is order timing and order releases for a few major customers. The second factor is the end of reimbursement payments by Abbott Labs for certain research and development costs incurred by Allied. Abbott made no payments in the second quarter of this fiscal year versus payments totaling $451,000 for the second quarter of last year. Abbott made no payments this year because it had completed its funding agreement with Allied.

For the first half of the fiscal year, Allied net income declined from about $93,500, or 1 cent per share in the prior year period, to a loss of about $227,000, or a loss of about 3 cents per share in the current year period. Net sales for the first two quarters declined by about 3 percent, or about $750,000, to about $27 million. Again, $451,000 of the $750,000 decline resulted from the end of reimbursement payments by Abbott.

"Our analysis of first half sales results indicates an anomaly of order and order release timing by long-time customers," said Earl Refsland, Allied President and Chief Executive Officer. "We expect these orders to be restored in the second half of the fiscal year."

Allied is tracking economic changes for effects on its results, Refsland said, but historically its business has not suffered as much as the o
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SOURCE Allied Healthcare Products Inc.
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