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Apollo Medical Holdings Announces Record Fiscal Year-End Results
Date:5/3/2013

GLENDALE, Calif., May 3, 2013 /PRNewswire/ -- Apollo Medical Holdings, Inc. ("ApolloMed") (OTCQB: AMEH), an integrated physician-driven healthcare delivery company that puts 'Patients First,' today announced its fiscal year-end results for the three and twelve months ended January 31, 2013. 

Financial Highlights for Full Fiscal Year 2013 Compared to Full Fiscal Year 2012:

  • Net revenues climbed 52.2% to $7.8 million from $5.1 million due largely to the signing of new hospital contracts during fiscal 2013, coupled with new revenue stemming from the Company's expanded service offerings.
  • Gross profit increased 49.2% to $1.46 million from $978,000.
  • After factoring non-cash stock-based compensation totaling approximately $1.9 million, loss from operations on a GAAP basis rose to $2.1 million from $413,000.
  • Non-GAAP* Adjusted EBITDA increased to approximately $4,200 from a Non-GAAP Adjusted EBITDA loss of approximately $219,000.
  • Financial Highlights for Three Months Ended January 31, 2013 Compared to Three Months Ended January 31, 2012:

  • Net revenues totaled $2.5 million, rising 63.7% from $1.5 million. 
  • Gross profit rose 34.7% to approximately $547,000 from $406,000.
  • Operating loss doubled to $525,000 from $269,000; the increase is attributable primarily to costs associated with the development and expansion of ApolloMed ACO.
  • Non-GAAP* Adjusted EBITDA loss totaled $189,523, rising 12.0% from $169,245.
  • As of January 31, 2013, the Company had $1.18 million in cash and cash equivalents, $1.58 million in accounts receivable and total stockholders' deficit of approximately $391,000.

    Key Operational Highlights for Fiscal Year 2013

  • In March 2012, Care1st Health Plan contracted with ApolloMed Hospitalists to provide inpatient care services to its members at all hospitals in Los Angeles which ApolloMed serves.
  • In July, ApolloMed ACO was of
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  • SOURCE Apollo Medical Holdings, Inc.
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