-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DbF1KcZl8aRM0mq1IGZTijkCe6jBxmsSMeLUisDCI0I0mCvCzWChGyoESx9gAN35 xyoyp8TFvTIEPtA3+9cIJg== 0000910680-04-000845.txt : 20040813 0000910680-04-000845.hdr.sgml : 20040813 20040813101233 ACCESSION NUMBER: 0000910680-04-000845 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20040812 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20040813 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN MEDICAL ALERT CORP CENTRAL INDEX KEY: 0000700721 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MISCELLANEOUS BUSINESS SERVICES [7380] IRS NUMBER: 112571221 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08635 FILM NUMBER: 04972129 BUSINESS ADDRESS: STREET 1: 3265 LAWSON BLVD CITY: OCEANSIDE STATE: NY ZIP: 11572 BUSINESS PHONE: 5165365850 MAIL ADDRESS: STREET 1: 3265 LAWSON BLVD CITY: OCEANSIDE STATE: NY ZIP: 11572 8-K 1 f8k08122004.txt AUGUST 12, 2004 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): August 12, 2004 American Medical Alert Corp. (Exact name of registrant as specified in its charter) New York 333-54992 11-2571221 (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification No.) 3265 Lawson Boulevard, Oceanside, New York 11572 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (516) 536-5850 Not Applicable (Former Name or Former Address, if Changed Since Last Report) Item 12. Results of Operations and Financial Condition. On August 12, 2004, the Company issued the following press release: Contact: Randi Baldwin Lester Rosenkrantz Vice President Communications & Marketing Investor Relations American Medical Alert Corporation Cameron Associates (516) 536-5850 (212) 245-8800 Ext. 212 AMERICAN MEDICAL ALERT CORP. REPORTS POSITIVE SECOND QUARTER 2004 OPERATING RESULTS Company Delivers Growth in Revenues and Net Income While Maintaining Strong Balance Sheet OCEANSIDE, New York. -August 12, 2004 - American Medical Alert Corp. (Nasdaq: AMAC), a healthcare communications company, today reported that revenues, consisting primarily of monthly recurring revenues (MRR), for the three months ended June 30, 2004 were $4,771,451, an increase of $818,086 or 21% as compared to $3,953,365 for the same period in 2003. Revenues for the six months ended June 30, 2004 were $9,324,929, an increase of $1,470,077 or 19% as compared to $7,854,852 for the same period in 2003. Net income for the three months ended June 30, 2004 increased to $200,520, or $.02 per diluted share, as compared to net income of $169,458, or $.02 per diluted share for the same period in 2003. Net income for the six months ended June 30, 2004 increased to $380,322, or $.05 per diluted share, as compared to net income of $214,901, or $.03 per diluted share for the same period in 2003. Net cash from operating activities increased to $1,824,789 from $1,276,781 for the same period last year. Working capital was $5,134,675 as of June 30, 2004. Howard M. Siegel, CEO speaking on behalf of AMAC commented, "During the second quarter we continued to improve the fiscal health of our organization through consistent growth in each of our business segments and increased cash flow generated from operations. The Company remains focused on driving increased revenue through its healthcare communications infrastructure. As we do so, overall earnings are expected to continue to improve. We are particularly pleased with the overall growth realized within the telephone answering service segment. Additional opportunities from both organic sales and acquisitions are currently being sought. Moreover, the Company's disease management monitoring program was included in several bids by organizations responding to the request for proposals from the Center for Medicare and Medicaid Services (CMS) -Chronic Care Improvement initiative". About American Medical Alert Corp. AMAC is a national provider of remote health monitoring devices and 24/7 communication services designed to promote early medical intervention and improve quality of life for senior, disabled and chronically ill populations. AMAC's product and service offerings include Personal Emergency Response Systems (PERS), electronic medication reminder devices, disease management monitoring appliances and 24/7 medical on-call and emergency response monitoring. AMAC operates several National Medical On-Call and Communication Centers allowing access to trained response professionals 24/7. This press release contains forward-looking statements that involve a number of risks and uncertainties. Forward-looking statements may be identified by the use of forward-looking terminology such as "may," "will," "expect," "believe," "estimate," "project," "anticipate," "continue," or similar terms, variations of those terms or the negative of those terms. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 10-KSB, the Company's Quarterly Reports on Forms 10-QSB, and other filings and releases. These include uncertainties relating to government regulation, technological changes, our expansion plans, our contract with the City of New York and product liability risks. Statements of income for the six and three months ended June 30, 2004 and 2003 and balance sheets as of June 30, 2004 and December 31, 2003 are attached. SELECTED FINANCIAL DATA Six Months Ended Three Months Ended 6/30/2004 6/30/2003 6/30/2004 6/30/2003 --------- --------- --------- --------- Revenues $9,324,929 $7,854,852 $4,771,451 $3,953,365 Net Income $ 380,322 $ 214,901 $ 200,520 $ 169,458 Net Income per Share Basic $ 0.05 $ 0.03 $ 0.03 $ 0.02 Diluted $ 0.05 $ 0.03 $ 0.02 $ 0.02 Basic Weighted Average Shares Outstanding 7,799,121 7,430,601 7,880,438 7,434,462 Diluted Weighted Average Shares Outstanding 8,356,818 7,547,894 8,517,524 7,570,458 CONDENSED BALANCE SHEET
June 30, December 31, 2004 2003 ---- ---- (Unaudited) ASSETS Current Assets $ 7,701,712 $ 6,909,456 Fixed Assets - Net 7,113,309 6,739,165 Other Assets 4,755,851 4,287,959 ------------ ------------ Total Assets $ 19,570,872 $ 17,936,580 ============ ============ LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities $ 2,567,037 $ 2,149,930 Deferred Income Tax 913,000 882,000 Long-term Debt 658,322 769,525 Long-term Capital Lease 72,930 119,814 Put Warrant Obligation 240,000 200,000 Other Liabilities 220,173 108,024 ------------ ------------ Total Liabilities $ 4,671,462 $ 4,229,293 Stockholders' Equity 14,899,410 13,707,287 ------------ ------------ Total Liabilities and Stockholders' Equity $ 19,570,872 $ 17,936,580 ============ ============
SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Date: August 12, 2004 AMERICAN MEDICAL ALERT CORP. By:/s/ Richard Rallo ---------------------------- Name: Richard Rallo Title: CFO -----END PRIVACY-ENHANCED MESSAGE-----