Navigation Links
Allied Healthcare Products Reports Second Quarter Loss
Date:2/11/2013

ST. LOUIS, Feb. 11, 2013 /PRNewswire/ -- With governmental markets at all levels coping with severe budget constraints, and hospital equipment markets also in recession, Allied Healthcare Products (NASDAQ: AHPI) reported a loss for the second quarter of fiscal year 2013.

Net income for the quarter ending December 3, 2012 represented a loss of about $469,000, or a negative 6 cents per basic and diluted share, versus about $23,000, or zero cents per basic and diluted share for the prior year. Sales for the quarter declined from about $10.7 million to $9.9 million, or about 7.5 percent, from the previous year.

For the first two quarters of fiscal 2013, net income was a negative $880,000, or a negative 11 cents per basic and diluted share, compared to negative net income of $123,000 or negative 2 cents per basic and diluted share, for the prior year. Sales for the first two quarters slipped from about $22.1 million to $19.2 million, or about 13.1 percent, from the previous year.

A bright spot in Allied sales came from international markets. For the first half of the year, international sales increased almost 19 percent over the previous year.

Increases in global markets, however, could not offset continued decline in Allied's domestic hospital construction business. Sales in the domestic construction market fell about 36 percent compared to the prior year.

Sales of Allied's new carbon dioxide absorbent Litholyme®, used in anesthesia procedures, were hindered by product introduction delays, Allied reported. However, those problems have been resolved, and U.S. hospitals are adopting the advanced product.

"Overall, our domestic carbon dioxide absorbent sales are up nearly 17 percent in the first half," said Earl Refsland , Allied Healthcare Products president and chief executive officer. "We expect that sales growth to increase as we steadily build the base of hospitals that we have converted to Litholyme."

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.STATEMENT OF OPERATIONS(UNAUDITED)Three months ended,Six months ended,December 31,December 31,2012201120122011Net sales

$9,921,422$10,681,395$19,208,513$22,076,403Cost of sales

7,815,4897,946,45815,123,60516,935,449Gross profit

2,105,9332,734,9374,084,9085,140,954Selling General and administrative expenses

2,857,0652,693,8945,495,6405,327,983Income (loss) from operations

(751,132)41,043(1,410,732)(187,029)Interest income

(2,821)(7,297)(7,047)(16,292)Interest expense

--0336Other, net

7,64511,74315,22626,1494,8244,4468,17910,193Income (loss) before provision for(benefit from) income taxes

(755,956)36,597(1,418,911)(197,222)Provision for (benefit from) income taxes

(287,263)13,907(539,186)(74,944)Net income (loss)

($468,693)$22,690($879,725)($122,278)Net income (loss) per share - Basic 

($0.06)$0.00($0.11)($0.02)Net income (loss) per share - Diluted

($0.06)$0.00($0.11)($0.02)Weighted average common shares outstanding - Basic

8,100,5938,124,3868,112,4908,124,386Weighted average common shares outstanding - Diluted

8,100,5938,124,8348,112,4908,124,386ALLIED HEALTHCARE PRODUCTS, INC.BALANCE SHEET(UNAUDITED)December 31, 2012June 30, 2012ASSETSCurrent assets:Cash and cash equivalents

$
4,586,331$
5,284,543Accounts receivable, net of allowances  of $300,000

3,551,5874,843,593Inventories, net

10,049,58410,001,226Income tax receivable

583,70646,042Other current assets

590,082400,677Total current assets

19,361,29020,576,081Property, plant and equipment, net

9,628,9359,603,556Other assets, net

1,137,9081,167,432Total assets

$
30,128,133$
31,347,069LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:Accounts payable

$
,693,881$
,797,144Other accrued liabilities

1,961,8261,855,579Deferred income taxes

793,990802,961Deferred revenue

-114,700Total current liabilities

4,449,6974,570,384Commitments and contingenciesStockholders' equity:Preferred stock; $0.01 par value; 1,500,000 shares authorized; no shares issued and outstanding

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

--Common stock; $0.01 par value; 30,000,000 shares authorized; 10,427,878 shares issued at December 31,   2012 and June 30, 2012; 8,030,247 and 8,124,386 shares outstanding at December 31, 2012 and June 30, 2012, respectively

104,279104,279Additional paid-in capital

48,563,23048,540,802Accumulated deficit

(2,016,693)(1,136,968)Less treasury stock, at cost; 2,397,631 and 2,303,492 shares at December 31, 2012 and June 30, 2012, respectively

(20,972,380)(20,731,428)Total stockholders' equity

25,678,43626,776,685Total liabilities and stockholders' equity

$
30,128,133$
31,347,069


'/>"/>
SOURCE Allied Healthcare Products
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Allied Healthcare Reports First Quarter Loss
2. Allied Healthcare Products Reports Loss on Sales Decline
3. McGuireWoods and McGladrey Present 10th Annual Healthcare and Life Sciences Private Equity and Finance Conference
4. Covance To Present At The Leerink Swann Global Healthcare Conference
5. ViroPharma To Participate In Two Upcoming Healthcare Investor Conferences
6. Thoratec Presentation at Leerink Swann Global Healthcare Conference to Be Webcast
7. Array BioPharma To Present At The Leerink Swann Global Healthcare Conference
8. Quest Diagnostics To Speak At The Leerink Swann Global Healthcare Conference 2013
9. HeartWare Presentation at Leerink Swann Global Healthcare Conference to be Webcast
10. Philadelphia Native And Author Of Book On Healthcare Industry Headlines Expert Panel At The Wharton Health Care Business Conference
11. Anthera Pharmaceuticals to Present at the 2013 Leerink Global Healthcare Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... DUBLIN , June 23, 2016 ... "Dialysis Devices Global Market - Forecast to 2022" report ... is the treatment method for the patients with kidney failure, ... and excess fluid from the patient,s blood and thus the ... sodium, potassium and chloride in balance. Increasing ...
(Date:6/23/2016)... , June 23, 2016 ... "Pharmaceutical Excipients Market by Type (Organic Chemical (Sugar, ... Formulation (Oral, Topical, Coating, Parenteral) - Global Forecast to ... The global pharmaceutical excipients market ... at a CAGR of 6.1% in the forecast period ...
(Date:6/23/2016)... 23, 2016 Roche (SIX: RO, ROG; OTCQX: ... its Elecsys BRAHMS PCT (procalcitonin) assay as a dedicated ... shock. With this clearance, Roche is the first IVD ... solution for sepsis risk assessment and management. ... and PCT levels in blood can aid clinicians in ...
Breaking Medicine Technology:
(Date:6/26/2016)... Orion, Clarkston, Michigan (PRWEB) , ... June 26, ... ... with respect to fertility once they have been diagnosed with endometriosis. These women ... intercourse but they also require a comprehensive approach that can help for preservation ...
(Date:6/25/2016)... ... June 25, 2016 , ... First Choice Emergency ... named Dr. Sesan Ogunleye, as the Medical Director of its new Mesquite-Samuell Farm facility. ... Director of our new Mesquite location,” said Dr. James M. Muzzarelli, Executive Medical Director ...
(Date:6/24/2016)... ... June 24, 2016 , ... A recent article published ... unfamiliar with. The article goes on to state that individuals are now more comfortable ... less common operations such as calf and cheek reduction. The Los Angeles area medical ...
(Date:6/24/2016)... ... 24, 2016 , ... Global law firm Greenberg Traurig, P.A. announced that 20 ... by their peers for this recognition are considered among the top 2 percent of ... honors as members of this year’s Legal Elite Hall of Fame: Miami Shareholders ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... ... today at the Clinical Decision Making in Emergency Medicine conference in Ponte Vedra ... authored journal articles published in Emergency Medicine Practice and Pediatric Emergency ...
Breaking Medicine News(10 mins):