Navigation Links
Allied Healthcare Products Reports Loss on Sales Decline
Date:5/11/2012

ST. LOUIS, May 10, 2012 /PRNewswire/ -- Challenged by weak demand in its domestic markets, Allied Healthcare Products Inc. (NASDAQ: AHPI) reported a loss for the third quarter of fiscal year 2012 on a decline in sales.

Net income for the quarter ending March 31 was a negative $146,000, or negative 2 cents per basic and diluted share, versus net income of $60,000, or 1 cent per share, for the prior year. Sales for the quarter declined from about $11.3 million to $10.7 million, or about 5.3 percent, from the previous year.

For the first three quarters of the 2012 fiscal year, net income fell from almost $90,000, or 1 cent per basic and diluted share, to a negative $268,000, or a negative 3 cents per share. Sales for the first three quarters declined from about $34.7 million to $32.8 million, or about 5.5 percent, compared to the previous year.

The bright spot in the sales picture was international sales which increased about 12.9 percent over the previous year's quarter and by about 6.4 percent for the first three quarters.

Commodity prices increased about 12.4 percent over the previous year. However, cost reduction projects in manufacturing offset increased material costs.

Allied will introduce cartridges that will facilitate use of its CO2 absorbent Litholyme® product in the fourth quarter of 2012, said Earl Refsland, Allied Healthcare Products president and chief executive officer.

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 product lines include respiratory care products, medical gas equipment and emergency medical products. Allied products are marketed to hospitals, hospital equipment dealers, hospital construction contractors, home healthcare dealers and emergency medical product 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,Nine months ended,March 31,March 31,2012201120122011Net sales

$10,702,421$11,338,196$32,778,824$34,681,610Cost of sales

8,377,3078,729,82325,312,75626,712,541Gross profit

2,325,1142,608,3737,466,0687,969,069Selling General and administrative expenses

2,555,6492,494,8067,883,6317,780,116Income (loss) from operations

(230,535)113,567(417,563)188,953Interest income

(5,692)(8,150)(21,984)(23,692)Interest expense

--33666Other, net

10,29724,42136,44667,9314,60516,27114,79844,305Income (loss) before provision for(benefit from) income taxes

(235,140)97,296(432,361)144,648Provision for (benefit from) income taxes

(89,353)36,972(164,297)54,966Net income (loss)

($145,787)$60,324($268,064)$89,682Net income (loss) per share - Basic 

($0.02)$0.01($0.03)$0.01Net income (loss) per share - Diluted

($0.02)$0.01($0.03)$0.01Weighted average common shares outstanding - Basic

8,124,3868,113,4348,124,3868,101,643Weighted average common shares outstanding - Diluted

8,124,3868,195,1748,124,3868,121,042ALLIED HEALTHCARE PRODUCTS, INC.CONSOLIDATED BALANCE SHEET(UNAUDITED)March 31, 2012June 30, 2011ASSETSCurrent assets:Cash and cash equivalents

$
,375,285$
,512,887Accounts receivable, net of allowances  of $300,000

4,123,9405,366,860Inventories, net

10,338,00310,553,289Income tax receivable

-95,578Other current assets

665,404213,745Total current assets

21,502,63222,742,359Property, plant and equipment, net

9,307,6478,660,507Other assets, net

562,112362,480Total assets

$
31,372,391$
31,765,346LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:Accounts payable

$
,588,091$
,644,910Other accrued liabilities

2,073,8991,645,552Deferred income taxes

499,417512,572Deferred revenue

286,750688,200Total current liabilities

4,448,1574,491,234Deferred 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 March 31,   2012 and June 30, 2011; 8,124,386 shares outstanding  at March 31, 2012 and June 30, 2011

104,279104,279Additional paid-in capital

48,531,98948,499,103Accumulated deficit

(980,606)(712,542)Less treasury stock, at cost; 2,303,492 shares atMarch 31, 2012 and June 30, 2011

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

26,924,23427,159,412Total liabilities and stockholders' equity

$
31,372,391$
31,765,346


'/>"/>
SOURCE Allied Healthcare Products, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Allied Healthcare Products Reports First Quarter Loss on Sales Decline
2. Allied Healthcare Reports Profitable Quarter and Year Despite Lingering Effects of Recession
3. Allied Healthcare Earns Modest Profit in Tight Market
4. Allied Healthcare Products Reports Modest Profit for Quarter
5. Allied Healthcare Products Reports Narrow Loss for Quarter But Improves Year-Over-Year Performance
6. Allied Telesis, Hosted PACS Solutions Join Forces to Deliver Managed Cloud-Based Picture Archiving and Communications Systems (PACS) Services
7. Recession Leads to Sales Decline and Loss for Allied Healthcare Products in Fiscal 2010
8. Allied Healthcare Announces Litholyme(TM) -- New CO2 Absorbent Used in Anesthesia
9. Allied Healthcare Products Returns to Profitability By Offsetting Depressed Sales with Cost Reductions
10. Recession Continues to Depress Sales at Allied Healthcare Products
11. New Chronic Wound Treatment Device Receives Award from Veterans Healthcare Program
Post Your Comments:
*Name:
*Comment:
*Email:
(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 ...
(Date:6/23/2016)... , , , WHEN: ... , , , , LOCATION: , , , Online, with ... , EXPERT PANELISTS:  , , , Frost & Sullivan,s Global Vice ... Senior Industry Analyst, Divyaa Ravishankar and Unmesh Lal, Program Manager , ... industry is witnessing an exceptional era. Several new demand spaces, such ...
(Date:6/23/2016)... 23, 2016 Revolutionary technology includes ... Oticon , industry leaders in advanced audiology and hearing ... Oticon Opn ™, the world,s first internet connected hearing ... IoT devices.      (Photo: http://photos.prnewswire.com/prnh/20160622/382240 ... number of ,world firsts,: , TwinLink™ - ...
Breaking Medicine Technology:
(Date:6/25/2016)... ... ... The temporary closing of Bruton Memorial Library on June 21 due to a possible lice ... overlooked aspect of head lice: the parasite’s ability to live away from a human host, ... a necessary one in the event that lice have simply gotten out of control. , ...
(Date:6/25/2016)... ... June 25, 2016 , ... First Choice Emergency Room , the ... Ogunleye, as the Medical Director of its new Mesquite-Samuell Farm facility. , “We ... new Mesquite location,” said Dr. James M. Muzzarelli, Executive Medical Director of First Choice ...
(Date:6/25/2016)... Oklahoma (PRWEB) , ... June 25, 2016 , ... ... both athletes and non-athletes recover from injury. Recently, he has implemented orthobiologic procedures ... Oklahoma City area —Johnson is one of the first doctors to perform the ...
(Date:6/25/2016)... Canada (PRWEB) , ... June 25, 2016 , ... Conventional ... pursuit of success. In terms of the latter, setting the bar too high can ... risk more than just slow progress toward their goal. , Research from ...
(Date:6/24/2016)... ... June 24, 2016 , ... Those who have experienced traumatic events may ... to unhealthy avenues, such as drug or alcohol abuse, as a coping mechanism. To ... for healthy coping following a traumatic event. , Trauma sufferers tend to feel a ...
Breaking Medicine News(10 mins):