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Apollo Medical Holdings Reports Record Fiscal 2014 Second Quarter Results
Date:9/16/2013

GLENDALE, Calif., Sept. 16, 2013 /PRNewswire/ -- Apollo Medical Holdings, Inc. ("ApolloMed") (OTCQB: AMEH), an integrated physician-driven healthcare delivery company that puts 'Patients First,' today announced its fiscal 2014 second quarter results for the three and six  months ended July 31, 2013.

Financial Highlights for Three Months Ended July 31, 2013 Compared to Three Months Ended July 31, 2012:

  • Net revenues increased 57% to a record $2.59 million from $1.65 million.  Approximately $740,000 of the increase can be attributed to the success that the Company continues to enjoy winning new hospital contracts and increasing revenues from existing medical group clients at the new hospitals being served.
  • Loss from operations totaled $1.36 million, which compared to a loss from operations of approximately $63,000. The increase is due primarily to an increase in physician stock-based compensation of approximately $423,000, $688,000 in physician costs attributable to new physicians hired to support new contracts, and $544,000 in stock-based compensation for employees, directors and consultants. In addition, approximately $227,000 in expenses associated with support of Maverick Medical Group launched earlier this year and the continued investment in ApolloMed ACO, contributed to the higher loss from operations in the second quarter period.
  • Non-GAAP* Adjusted EBITDA loss totaled approximately $309,000 compared to positive EBITDA of approximately $23,000.
  • Net loss declined 52% to $1.53 million, or $0.04 loss per basic and diluted share, from $3.20 million, or $0.10 loss per basic and diluted share.
  • Financial Highlights for Six Months Ended July 31, 2013 Compared to Six Months Ended July 31, 2012:

  • Net revenues totaled $5.04 million, rising 54% from $3.28 million due primarily to  new hospital contracts, increased same-market area growth and expansion of services with the Company's current medica
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  • SOURCE Apollo Medical Holdings, Inc.
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