Click here to close now.

Welcome!

.NET Authors: Elizabeth White, Liz McMillan, Pat Romanski, Jaynesh Shah, Carmen Gonzalez

News Feed Item

Patient Home Monitoring (PHM) Announces a Profitable First Quarter of Fiscal 2013 with Strong Cash Flow; and Audited Fiscal Year 2012 Results

SAN FRANCISCO, CALIFORNIA -- (Marketwire) -- 01/29/13 -- Patient Home Monitoring (PHM) (TSX VENTURE:PHM), a company focused on in-home cardiology healthcare services, today announced audited results for its fiscal year ended September 30, 2012. It also released unaudited results for its first quarter of fiscal 2013 ended December 31, 2012. In conjunction with the results, PHM's management provided details behind the impressive triple digit revenue growth in fiscal 2012 as well as strong first quarter cash flow and profitability.

PHM will broadcast an earnings call and webcast on Tuesday, January 29, 2013 at 12:00 pm ET to review and discuss the first fiscal quarter of 2013 and the fiscal year end results for 2012.

To listen, please visit PHM's investor website at:

www.phmhometesting.com/investor/Q1_2013_Conferencecall

Q1 2013 Highlights

Quarterly Net Profit


--  Swung to a net profit of $96,449 from a loss of $65,229 in the previous
    quarter. An increase in profit of $161,678 for the quarter. 

Quarterly Cash Flow


--  Generated positive cash flow of $199,853, an increase of $410,028 in
    cash flow compared to the previous quarter. 

PHM's Adjusted EBITDA(1) (Operating Profit) Trend from Q1 FY 2012 to Q1 FY 2013


----------------------------------------------------------------------------
Adjusted EBITDA (EBITDA excluding options expenses)                         
----------------------------------------------------------------------------
       Q1 FY 12        Q2 FY 12        Q3 FY 12       Q4 FY 12      Q1 FY 13
----------------------------------------------------------------------------
       ($74,767)      ($113,726)        $28,489        $53,001      $254,943
----------------------------------------------------------------------------

"The results for the first quarter of fiscal 2013 highlight our increasing profitability and cash flow." said Dr. Jaime Gerber MD, CEO of PHM. "In FY 2012, we accelerated profit growth and with this most recent quarter, we are pleased to have generated our first full quarter of profit. The strong cash flow from this quarter reaffirms the increasing value of PHM to its shareholders."

"We are happy to announce that in FY 2012, we increased top line revenue by 170% despite an 11% reimbursement cut," continued Dr. Gerber, "PHM operates in an underpenetrated market that remains poised for growth, with over 3.5 million patients available for enrollment. Our focus on service quality and fiscal efficiency creates value for our patients, physicians, and shareholders. We have reached a critical mass in our annuity stream revenue where each additional patient drives significant annual cash flow and profitability."

Full Year Audited 2012 Highlights

Revenues


--  Increased annual revenue to $3,901,058 from $1,443,708, a 170% increase
    over the prior year. 

Profits


--  Generated $990,312 in Adjusted EBITDA before patient acquisition
    costs(1) (operating profit), a swing of $1,420,990 from fiscal 2011. 
--  Narrowed Adjusted EBITDA losses to $107,004 in 2012 from $1,378,312 in
    2011. 
--  Increased quarterly gross profit margin to 67.3% from 59.5% in FY 2011
    in the face of an 11% reimbursement cut. 

For complete financial results, please see PHM's filings at www.sedar.com.

(1) Operational Profitability is defined as Adjusted EBITDA before patient acquisition costs. In calculating Adjusted EBITDA before patient acquisition costs certain items are excluded from net loss including interest, taxes, amortization, non-cash stock-based compensation, and patient acquisition costs. Please refer to the "Non-IFRS Measures" section of PHM's MD&A for further discussion on these operational measures at:

http://www.phmhometesting.com/investor/public/dl/2013_Q1_MD&A.pdf


                         Q1 FY 12      Q2 FY 12      Q3 FY 12      Q4 FY 12 
Net Gain (Loss)       $  (165,384)  $  (193,268)  $  (115,882)  $   (65,229)
Add Back: Interest                                                          
 Expense              $     1,619   $    25,332   $    27,406   $    15,818 
Add Back:                                                                   
 Amortization         $    59,233   $    67,712   $    79,219   $    86,984 
Add Back: Stock                                                             
 Based Comp.          $    29,764   $   (13,502)  $    37,746   $    15,428 
----------------------------------------------------------------------------
Adjusted EBITDA       $   (74,768)  $  (113,726)  $    28,489   $    53,001 
Add Back: Patient                                                           
 Acquisition Costs    $   293,133   $   269,351   $   254,553   $  280, 279 
----------------------------------------------------------------------------
Adjusted EBITDA                                                             
 before Pat. Acq.     $   218,365   $   155,625   $   283,042   $   333,280 

                              Q1 FY 13           FY 2011            FY 2012 
Net Gain (Loss)        $        96,449   $    (1,641,001)   $      (539,763)
Add Back: Interest                                                          
 Expense               $        28,060   $             -    $        70,175 
Add Back:                                                                   
 Amortization          $        86,763   $       121,221    $       293,148 
Add Back: Stock                                                             
 Based Comp.           $        43,671   $       141,468    $        69,436 
----------------------------------------------------------------------------
Adjusted EBITDA        $       254,943   $    (1,378,312)   $      (107,004)
Add Back: Patient                                                           
 Acquisition Costs     $       144,073   $       947,634    $     1,097,316 
----------------------------------------------------------------------------
Adjusted EBITDA                                                             
 before Pat. Acq.      $       399,016   $      (430,678)   $       990,312 

About PHM

PHM is a healthcare services company focused on providing in-home testing for patients on blood thinner medications such as Coumadin® or warfarin. Medicare recently expanded reimbursement for in-home patient self testing (PST) of blood coagulation levels. PHM has a unique value proposition to cardiology groups that manage patients on blood thinners, focusing on systemization to enroll patients in PST. This unique, systemized approach creates an opportunity for physician groups to operate more efficiently, increasing revenue to their clinic while providing a higher standard of care for patients.

Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Implicit in this information, particularly in respect of the future outlook of PHM and anticipated events or results, are assumptions based on beliefs of PHM's senior management as well as information currently available to it. While these assumptions were considered reasonable by PHM at the time of preparation, they may prove to be incorrect. Readers are cautioned that actual results are subject to a number of risks and uncertainties, including the availability of funds and resources to pursue operations, decline of reimbursement rates, dependence on few payors, possible new drug discoveries, a novel business model, dependence on key suppliers, granting of permits and licenses in a highly regulated business, competition, low profit market segments as well as general economic, market and business conditions, and could differ materially from what is currently expected.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Patient Home Monitoring
Michael Dalsin
Chairman
Managing Director, Stanmore Capital Partners, Inc
(323) 253-3055

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal an...
Wearable devices have come of age. The primary applications of wearables so far have been "the Quantified Self" or the tracking of one's fitness and health status. We propose the evolution of wearables into social and emotional communication devices. Our BE(tm) sensor uses light to visualize the skin conductance response. Our sensors are very inexpensive and can be massively distributed to audiences or groups of any size, in order to gauge reactions to performances, video, or any kind of presentation. In her session at @ThingsExpo, Jocelyn Scheirer, CEO & Founder of Bionolux, will discuss ho...
The true value of the Internet of Things (IoT) lies not just in the data, but through the services that protect the data, perform the analysis and present findings in a usable way. With many IoT elements rooted in traditional IT components, Big Data and IoT isn’t just a play for enterprise. In fact, the IoT presents SMBs with the prospect of launching entirely new activities and exploring innovative areas. CompTIA research identifies several areas where IoT is expected to have the greatest impact.
Every day we read jaw-dropping stats on the explosion of data. We allocate significant resources to harness and better understand it. We build businesses around it. But we’ve only just begun. For big payoffs in Big Data, CIOs are turning to cognitive computing. Cognitive computing’s ability to securely extract insights, understand natural language, and get smarter each time it’s used is the next, logical step for Big Data.
We are reaching the end of the beginning with WebRTC, and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will want to use their existing identities, but these will have credentials already that are (hopefully) i...
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some form of XaaS – software, platform, and infrastructure as a service.
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, data security and privacy.
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal today!
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example t...
SYS-CON Events announced today that MetraTech, now part of Ericsson, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Ericsson is the driving force behind the Networked Society- a world leader in communications infrastructure, software and services. Some 40% of the world’s mobile traffic runs through networks Ericsson has supplied, serving more than 2.5 billion subscribers.
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using the URL as a basic building block, we open this up and get the same resilience that the web enjoys.
Container frameworks, such as Docker, provide a variety of benefits, including density of deployment across infrastructure, convenience for application developers to push updates with low operational hand-holding, and a fairly well-defined deployment workflow that can be orchestrated. Container frameworks also enable a DevOps approach to application development by cleanly separating concerns between operations and development teams. But running multi-container, multi-server apps with containers is very hard. You have to learn five new and different technologies and best practices (libswarm, sy...
SYS-CON Events announced today that DragonGlass, an enterprise search platform, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. After eleven years of designing and building custom applications, OpenCrowd has launched DragonGlass, a cloud-based platform that enables the development of search-based applications. These are a new breed of applications that utilize a search index as their backbone for data retrieval. They can easily adapt to new data sets and provide access to both structured and unstruc...
Converging digital disruptions is creating a major sea change - Cisco calls this the Internet of Everything (IoE). IoE is the network connection of People, Process, Data and Things, fueled by Cloud, Mobile, Social, Analytics and Security, and it represents a $19Trillion value-at-stake over the next 10 years. In her keynote at @ThingsExpo, Manjula Talreja, VP of Cisco Consulting Services, will discuss IoE and the enormous opportunities it provides to public and private firms alike. She will share what businesses must do to thrive in the IoE economy, citing examples from several industry sector...
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo, June 9-11, 2015, at the Javits Center in New York City. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and assessments, including a decade of leading incident response and digital forensics. He is co-author of t...
The Internet of Things is a misnomer. That implies that everything is on the Internet, and that simply should not be - especially for things that are blurring the line between medical devices that stimulate like a pacemaker and quantified self-sensors like a pedometer or pulse tracker. The mesh of things that we manage must be segmented into zones of trust for sensing data, transmitting data, receiving command and control administrative changes, and peer-to-peer mesh messaging. In his session at @ThingsExpo, Ryan Bagnulo, Solution Architect / Software Engineer at SOA Software, focused on desi...
SYS-CON Events announced today that the "First Containers & Microservices Conference" will take place June 9-11, 2015, at the Javits Center in New York City. The “Second Containers & Microservices Conference” will take place November 3-5, 2015, at Santa Clara Convention Center, Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists will peel away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud environment, and we must architect and code accordingly. At the very least, you'll have no problem fil...