Home | Business News | Browse by Publication | B | Business Wire

Allied Healthcare International Inc. Reports Fiscal 2008 Fourth Quarter and Year-End Results.

Article Excerpt
Fourth Quarter Operating Income Increases 45.2%

Fiscal 2008 Operating Income Increases 46.8%

Fiscal 2008 Diluted EPS Increases 137.5% to $0.19 from $0.08 in Fiscal 2007

NEW YORK -- Allied Healthcare International Inc. (Nasdaq: AHCI; AIM: AHI, http://www.alliedhealthcare.com):

[TABLE OMITTED]

Allied Healthcare International Inc. (Nasdaq: AHCI; AIM: AHI, http://www.alliedhealthcare.com), a leading provider of flexible healthcare staffing services in the United Kingdom, announces the financial results of its fiscal 2008 fourth quarter and year-end.

To provide investors with an increased understanding of the Company's staffing business, as in previous quarters, Allied is providing a breakdown of its revenues and gross profits at constant exchange rates. In addition, as the Company's revenues and gross profits are generated in the United Kingdom, an analysis is included, within Management Discussion below, of the last four quarters revenues and gross profits in pounds sterling to enable investors to fully understand the underlying trends over this period without the effects of currency exchange rates.

Fiscal Fourth Quarter Results:

[TABLE OMITTED]

For the fourth quarter of fiscal 2008, at constant exchange rates, revenues increased by $6.4 million, or 8.8%, to $79.6 million, compared with $73.2 million reported during the same period in fiscal 2007. Contributing to the increase in revenues was Allied's Homecare staffing which grew by 16.0% to $60.9 million. Nursing Home staffing revenues declined by 9.0% to $10.4 million. Hospital staffing declined by 10.5% to $8.3 million due to changes in government policies which have been previously reported. After the unfavorable impact of currency exchange of $4.6 million, revenues increased to $75.0 million.

At constant exchange rates, total gross profit for the fourth fiscal quarter increased 7.2% to $24.3 million, compared with $22.7 million reported for the comparable quarter in fiscal 2007. Gross profit margin for the fourth quarter decreased slightly....

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!