Navigation Links
Allied Healthcare Products Reports First Quarter Loss on Sales Decline
Date:11/8/2011

ST. LOUIS, Nov. 8, 2011 /PRNewswire/ -- Allied Healthcare Products, Inc. (NASDAQ: AHPI) reported a loss in its first quarter on a decline in sales.

Allied's net loss for the first quarter of its 2012 fiscal year was approximately $145,000, or a negative 2 cents per basic and diluted share, versus a loss of about $88,000, or a negative 1 cent per share, in the previous year's first quarter.

Allied's sales for the quarter ending September 30, 2011 totaled about $11.4 million. This represents a decline of approximately 4 percent from the previous year's first quarter sales of about $11.9 million. Sales remain constrained by recession driven budget cuts in both hospitals and municipalities but the decline in sales between the two periods is believed by the Company to be a result of order timing rather than any further market declines.

The Company incurred expenses of about $400,000 in bringing production of Carbolime in-house during the first quarter. This production expense will be reduced by more than half in the second quarter and eliminated in the fiscal year's third and fourth quarters, resulting in improved margins.

Allied also reported significantly higher commodity prices in the quarter. Prices for commodities such as brass and resin increased by more than 20 percent over prior year levels. Prices for non-commodity goods increased by about 4 percent over the prior year.

Allied Healthcare Products manufactures a variety of respiratory products used in the healthcare industry in a range of hospital and alternate care settings including sub-acute facilities, home healthcare and emergency medical care. Allied's product lines include respiratory care products, medical gas equipment and emergency medical products. Allied's products are marketed to hospitals, hospital equipment dealers, hospital construction contractors, home healthcare dealers and emergency medical products dealers.

"SAFE HARBOR" STATEMENT: Statements contained in this release that are not historical facts or information are "forward-looking statements."  Words such as "believe," "expect," "intend," "will," "should," and other expressions that indicate future events and trends identify such forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome and future results of operations and financial condition to be materially different than stated or anticipated based on the forward-looking statements. Such risks and uncertainties include both general economic risks and uncertainties, risks and uncertainties affecting the demand for and economic factors affecting the delivery of health care services, and specific matters which relate directly to the Company's operations and properties as discussed in its periodic filings with the Securities and Exchange Commission. The Company cautions that any forward-looking statement contained in this report reflects only the belief of the Company or its management at the time the statement was made. Although the Company believes such forward-looking statements are based upon reasonable assumptions, such assumptions may ultimately prove inaccurate or incomplete. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement was made.ALLIED HEALTHCARE PRODUCTS, INC.CONSOLIDATED STATEMENT OF OPERATIONS(UNAUDITED)Three months ended September 30,20112010Net sales

$
,395,008$
,940,733Cost of sales

8,988,9919,390,006Gross profit

2,406,0172,550,727Selling, general and administrative expenses

2,634,0892,684,576Loss from operations

(228,072)(133,849)Other (income) expenses:Interest income

(8,994)(7,475)Interest expense

33666Other expense, net

14,40515,1005,7477,691Loss before benefit from income taxes

(233,819)(141,540)Benefit from income taxes

(88,851)(53,785)Net loss

$
(144,968)$
(87,755)Basic and diluted loss per share

$
(0.02)$
(0.01)Weighted average common shares   outstanding - basic and diluted

8,124,3868,093,386ALLIED HEALTHCARE PRODUCTS, INC.CONSOLIDATED BALANCE SHEET(UNAUDITED)September 30, 2011

June 30, 2011ASSETSCurrent assets:Cash and cash equivalents

$
,164,178$
,512,887Accounts receivable, net of allowances  of $300,000

5,146,9275,366,860Inventories, net

10,752,05710,553,289Income tax receivable

187,72895,578Other current assets

456,015213,745Total current assets

22,706,90522,742,359Property, plant and equipment, net

8,855,5788,660,507Other assets, net

359,420362,480Total assets

$
31,921,903$
31,765,346LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:Accounts payable

$
,796,735$
,644,910Other accrued liabilities

1,961,1301,645,552Deferred income taxes

508,457512,572Deferred revenue

630,850688,200Total current liabilities

4,897,1724,491,234Deferred revenue

-114,700Commitments and contingenciesStockholders' equity:Preferred stock; $0.01 par value; 1,500,000 shares

--  authorized; no shares issued and outstandingSeries A preferred stock; $0.01 par value; 200,000 shares

--  authorized; no shares issued and outstandingCommon stock; $0.01 par value; 30,000,000 shares  authorized; 10,427,878 shares issued at September 30,  2011 and June 30, 2011; 8,124,386 shares outstanding  at September 30, 2011 and June 30, 2011

104,279104,279Additional paid-in capital

48,509,39048,499,103Accumulated deficit

(857,510)(712,542)Less treasury stock, at cost; 2,303,492 shares at   September 30, 2011 and June 30, 2011

(20,731,428)(20,731,428)Total stockholders' equity

27,024,73127,159,412Total liabilities and stockholders' equity

$
31,921,903$
31,765,346
'/>"/>

SOURCE Allied Healthcare Products, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Recession Continues to Depress Sales at Allied Healthcare Products
2. Allied Healthcare Products Returns to Profitability By Offsetting Depressed Sales with Cost Reductions
3. Allied Healthcare Announces Litholyme(TM) -- New CO2 Absorbent Used in Anesthesia
4. Recession Leads to Sales Decline and Loss for Allied Healthcare Products in Fiscal 2010
5. Allied Telesis, Hosted PACS Solutions Join Forces to Deliver Managed Cloud-Based Picture Archiving and Communications Systems (PACS) Services
6. Allied Healthcare Products Reports Narrow Loss for Quarter But Improves Year-Over-Year Performance
7. Allied Healthcare Products Reports Modest Profit for Quarter
8. Allied Healthcare Earns Modest Profit in Tight Market
9. Allied Healthcare Reports Profitable Quarter and Year Despite Lingering Effects of Recession
10. Harvard Medical School-Partners HealthCare Center for Genetics and Genomics Successfully Completes Evaluation of AutoGenomics 2C9-VKORC1 Panel to Assess Warfarin Sensitivity
11. Harvard Medical School-Partners HealthCare Center for Genetics and Genomics Successfully Completes Evaluation of AutoGenomics 2C9-VKORC1 Panel to Assess Warfarin Sensitivity
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... June 24, 2016   Pulmatrix, Inc ., (NASDAQ: ... innovative inhaled drugs, announced today that it was added ... reconstituted its comprehensive set of U.S. and global ... is an important milestone for Pulmatrix," said Chief Executive ... awareness of our progress in developing drugs for crucial ...
(Date:6/23/2016)... , June 23, 2016 Any dentist who ... challenges of the current process. Many of them do not ... the technical difficulties and high laboratory costs involved. And those ... offer it at such a high cost that the majority ... Dr. Parsa Zadeh , founder of Dental ...
(Date:6/23/2016)... , June 23, 2016 ... CAPR ), a biotechnology company focused on the ... announced that patient enrollment in its ongoing randomized ... has exceeded 50% of its 24-patient target. Capricor ... the third quarter of 2016, and to report ...
Breaking Medicine Technology:
(Date:6/25/2016)... Montreal, Canada (PRWEB) , ... June 25, 2016 , ... ... the pursuit of success. In terms of the latter, setting the bar too high ... low, risk more than just slow progress toward their goal. , Research from ...
(Date:6/24/2016)... ... June 24, 2016 , ... Marcy was in a crisis. Her son James, eight, was ... his family verbally and physically. , “When something upset him, he couldn’t control his emotions,” ... He would throw rocks at my other children and say he was going to kill ...
(Date:6/24/2016)... ... June 24, 2016 , ... Comfort Keepers® of San Diego, ... and the Road To Recovery® program to drive cancer patients to and from their ... to ensure the highest quality of life and ongoing independence. Getting to and ...
(Date:6/24/2016)... ... June 24, 2016 , ... The Haute Beauty Network, affiliated ... Weintraub as a prominent plastic surgeon and the network’s newest partner. , ... most handsome men, look naturally attractive. Plastic surgery should be invisible.” He stands ...
(Date:6/24/2016)... ... ... Venture Construction Group (VCG) sponsors Luke’s Wings 5th Annual ... Country Club at 1201 Rockville Pike, Rockville, Maryland, 20852. The event raised funds ... been wounded in battle and their families. Venture Construction Group is a 2016 Silver ...
Breaking Medicine News(10 mins):