Welcome!

.NET Authors: Sandi Mappic, Ivan Antsipau, JP Morgenthal, Yeshim Deniz, Carmen Gonzalez

News Feed Item

Allied Healthcare Products Reports Second Quarter Loss

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,


2012


2011


2012


2011









Net sales

$9,921,422


$10,681,395


$19,208,513


$22,076,403

Cost of sales

7,815,489


7,946,458


15,123,605


16,935,449

Gross profit

2,105,933


2,734,937


4,084,908


5,140,954

















Selling General and administrative expenses

2,857,065


2,693,894


5,495,640


5,327,983

Income (loss) from operations

(751,132)


41,043


(1,410,732)


(187,029)

















Interest income

(2,821)


(7,297)


(7,047)


(16,292)

Interest expense

-


-


0


336

Other, net

7,645


11,743


15,226


26,149


4,824


4,446


8,179


10,193









Income (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

8,100,593


8,124,386


8,112,490


8,124,386









Weighted average common shares outstanding - Diluted

8,100,593


8,124,834


8,112,490


8,124,386



ALLIED HEALTHCARE PRODUCTS, INC.



BALANCE SHEET



(UNAUDITED)








December 31, 2012


June 30, 2012

ASSETS




Current assets:





Cash and cash equivalents

$           4,586,331


$         5,284,543


Accounts receivable, net of allowances





  of $300,000

3,551,587


4,843,593


Inventories, net

10,049,584


10,001,226


Income tax receivable

583,706


46,042


Other current assets

590,082


400,677


    Total current assets

19,361,290


20,576,081


Property, plant and equipment, net

9,628,935


9,603,556


Other assets, net

1,137,908


1,167,432


    Total assets

$         30,128,133


$       31,347,069






LIABILITIES AND STOCKHOLDERS' EQUITY




Current liabilities:





Accounts payable

$           1,693,881


$         1,797,144


Other accrued liabilities

1,961,826


1,855,579


Deferred income taxes

793,990


802,961


Deferred revenue

-


114,700


    Total current liabilities

4,449,697


4,570,384






Commitments and contingencies









Stockholders' 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

104,279


104,279


Additional paid-in capital

48,563,230


48,540,802


Accumulated 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

25,678,436


26,776,685


    Total liabilities and stockholders' equity

$         30,128,133


$       31,347,069

SOURCE Allied Healthcare Products

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Architect for the Internet of Things and Intelligent Systems at Red Hat, will describe how to revoluti...
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at Internet of @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, will discuss how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money! Speaker Bio: Esmeralda Swartz, CMO of MetraTech, has spent 16 years as a marketing, product management, and busin...
Samsung VP Jacopo Lenzi, who headed the company's recent SmartThings acquisition under the auspices of Samsung's Open Innovaction Center (OIC), answered a few questions we had about the deal. This interview was in conjunction with our interview with SmartThings CEO Alex Hawkinson. IoT Journal: SmartThings was developed in an open, standards-agnostic platform, and will now be part of Samsung's Open Innovation Center. Can you elaborate on your commitment to keep the platform open? Jacopo Lenzi: Samsung recognizes that true, accelerated innovation cannot be driven from one source, but requires a...
SYS-CON Events announced today that Red Hat, the world's leading provider of open source solutions, will exhibit at Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Red Hat is the world's leading provider of open source software solutions, using a community-powered approach to reliable and high-performing cloud, Linux, middleware, storage and virtualization technologies. Red Hat also offers award-winning support, training, and consulting services. As the connective hub in a global network of enterprises, partners, a...
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at Internet of @ThingsExpo, Robin Raymond, Chief Architect at Hookflash Inc., will walk through the shifting landscape of traditional telephone a...
SYS-CON Events announced today that Matrix.org has been named “Silver Sponsor” of Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Matrix is an ambitious new open standard for open, distributed, real-time communication over IP. It defines a new approach for interoperable Instant Messaging and VoIP based on pragmatic HTTP APIs and WebRTC, and provides open source reference implementations to showcase and bootstrap the new standard. Our focus is on simplicity, security, and supporting the fullest feature set.
BSQUARE is a global leader of embedded software solutions. We enable smart connected systems at the device level and beyond that millions use every day and provide actionable data solutions for the growing Internet of Things (IoT) market. We empower our world-class customers with our products, services and solutions to achieve innovation and success. For more information, visit www.bsquare.com.
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic • Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happens, where data lives and where the interface lies. For instance, it’s a mix of architectural style...
From a software development perspective IoT is about programming "things," about connecting them with each other or integrating them with existing applications. In his session at @ThingsExpo, Yakov Fain, co-founder of Farata Systems and SuranceBay, will show you how small IoT-enabled devices from multiple manufacturers can be integrated into the workflow of an enterprise application. This is a practical demo of building a framework and components in HTML/Java/Mobile technologies to serve as a platform that can integrate new devices as they become available on the market.
SYS-CON Events announced today that SOA Software, an API management leader, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. SOA Software is a leading provider of API Management and SOA Governance products that equip business to deliver APIs and SOA together to drive their company to meet its business strategy quickly and effectively. SOA Software’s technology helps businesses to accelerate their digital channels with APIs, drive partner adoption, monetize their assets, and achieve a...
SYS-CON Events announced today that Utimaco will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Utimaco is a leading manufacturer of hardware based security solutions that provide the root of trust to keep cryptographic keys safe, secure critical digital infrastructures and protect high value data assets. Only Utimaco delivers a general-purpose hardware security module (HSM) as a customizable platform to easily integrate into existing software solutions, embed business logic and build s...
Connected devices are changing the way we go about our everyday life, from wearables to driverless cars, to smart grids and entire industries revolutionizing business opportunities through smart objects, capable of two-way communication. But what happens when objects are given an IP-address, and we rely on that connection, sometimes with our lives? How do we secure those vast data infrastructures and safe-keep the privacy of sensitive information? This session will outline how each and every connected device can uphold a core root of trust via a unique cryptographic signature – a “bir...
Internet of @ThingsExpo Silicon Valley announced on Thursday its first 12 all-star speakers and sessions for its upcoming event, which will take place November 4-6, 2014, at the Santa Clara Convention Center in California. @ThingsExpo, the first and largest IoT event in the world, debuted at the Javits Center in New York City in June 10-12, 2014 with over 6,000 delegates attending the conference. Among the first 12 announced world class speakers, IBM will present two highly popular IoT sessions, which will take place November 4-6, 2014 at the Santa Clara Convention Center in Santa Clara, Calif...
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at Internet of @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, will discuss how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.

SUNNYVALE, Calif., Oct. 20, 2014 /PRNewswire/ -- Spansion Inc. (NYSE: CODE), a global leader in embedded systems, today added 96 new products to the Spansion® FM4 Family of flexible microcontrollers (MCUs). Based on the ARM® Cortex®-M4F core, the new MCUs boast a 200 MHz operating frequency and support a diverse set of on-chip peripherals for enhanced human machine interfaces (HMIs) and machine-to-machine (M2M) communications. The rich set of periphera...

SYS-CON Events announced today that Aria Systems, the recurring revenue expert, has been named "Bronze Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Aria Systems helps leading businesses connect their customers with the products and services they love. Industry leaders like Pitney Bowes, Experian, AAA NCNU, VMware, HootSuite and many others choose Aria to power their recurring revenue business and deliver exceptional experiences to their customers.
The Internet of Things (IoT) is going to require a new way of thinking and of developing software for speed, security and innovation. This requires IT leaders to balance business as usual while anticipating for the next market and technology trends. Cloud provides the right IT asset portfolio to help today’s IT leaders manage the old and prepare for the new. Today the cloud conversation is evolving from private and public to hybrid. This session will provide use cases and insights to reinforce the value of the network in helping organizations to maximize their company’s cloud experience.
The Internet of Things (IoT) is making everything it touches smarter – smart devices, smart cars and smart cities. And lucky us, we’re just beginning to reap the benefits as we work toward a networked society. However, this technology-driven innovation is impacting more than just individuals. The IoT has an environmental impact as well, which brings us to the theme of this month’s #IoTuesday Twitter chat. The ability to remove inefficiencies through connected objects is driving change throughout every sector, including waste management. BigBelly Solar, located just outside of Boston, is trans...
SYS-CON Events announced today that Matrix.org has been named “Silver Sponsor” of Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Matrix is an ambitious new open standard for open, distributed, real-time communication over IP. It defines a new approach for interoperable Instant Messaging and VoIP based on pragmatic HTTP APIs and WebRTC, and provides open source reference implementations to showcase and bootstrap the new standard. Our focus is on simplicity, security, and supporting the fullest feature set.