Click here to close now.



Welcome!

Microsoft Cloud Authors: Pat Romanski, Elizabeth White, Liz McMillan, Mihai Corbuleac, David Bermingham

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
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
When people aren’t talking about VMs and containers, they’re talking about serverless architecture. Serverless is about no maintenance. It means you are not worried about low-level infrastructural and operational details. An event-driven serverless platform is a great use case for IoT. In his session at @ThingsExpo, Animesh Singh, an STSM and Lead for IBM Cloud Platform and Infrastructure, will detail how to build a distributed serverless, polyglot, microservices framework using open source tec...
Apixio Inc. has raised $19.3 million in Series D venture capital funding led by SSM Partners with participation from First Analysis, Bain Capital Ventures and Apixio’s largest angel investor. Apixio will dedicate the proceeds toward advancing and scaling products powered by its cognitive computing platform, further enabling insights for optimal patient care. The Series D funding comes as Apixio experiences strong momentum and increasing demand for its HCC Profiler solution, which mines unstruc...
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often ...
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his Day 2 Keynote at @ThingsExpo, Henrik Kenani Dahlgren, Portfolio Marketing Manager at Ericsson, discussed how to plan to cooperate, partner, and form lasting all-star teams to change t...
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Presidio has received the 2015 EMC Partner Services Quality Award from EMC Corporation for achieving outstanding service excellence and customer satisfaction as measured by the EMC Partner Services Quality (PSQ) program. Presidio was also honored as the 2015 EMC Americas Marketing Excellence Partner of the Year and 2015 Mid-Market East Partner of the Year. The EMC PSQ program is a project-specific survey program designed for partners with Service Partner designations to solicit customer feedbac...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Bradley Holt, Developer Advocate a...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th 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 and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
19th Cloud Expo, taking place November 1-3, 2016, 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 enterpri...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices 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 opportuni...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...