-----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, IYM7xPCOU5iIt/wLOmBdvD0XRuHJkJEu4lD9kxzDjcwBkEWIwtpKv6XM5UDyXwRh NdxaPwsbhISbW1e0lhjEGw== 0000910680-04-001186.txt : 20041112 0000910680-04-001186.hdr.sgml : 20041111 20041112165526 ACCESSION NUMBER: 0000910680-04-001186 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20041112 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20041112 DATE AS OF CHANGE: 20041112 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: 041140181 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 f8k111204.txt CURRENT REPORT 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): November 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 of Commission File Number) (IRS Employer 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 2.02. Results of Operations and Financial Condition. On November 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. SHOWS CONTINUED GROWTH WITH RELEASE OF THIRD QUARTER 2004 RESULTS Net Income for the Quarter Up 46%, Year to Date Net Income Up 64% As Compared to Same Periods Last Year OCEANSIDE, New York. -November 12, 2004 - American Medical Alert Corp. (Nasdaq: AMAC), a provider of healthcare communication services and advanced home health monitoring technologies, announced today the operating results of the company's third quarter ending September 30, 2004. Revenues for the quarter, consisting primarily of monthly recurring revenues (MRR), increased 15% to $4,945,184 as compared to $4,311,348 for the same period in 2003. Year to date revenues for the nine months ended September 30, 2004 increased 17% to $14,270,113, as compared to $12,166,200 for the same period last year. Net income for the three months ended September 30, 2004 increased 46% to $229,810, or $.03 per diluted share, as compared to net income of $157,529, or $.02 per diluted share for the same period in 2003. Net income for the nine months ended September 30, 2004 increased 64% to $610,132, or $.07 per diluted share, as compared to net income of $372,430, or $.05 per diluted share for the same period in 2003. From a balance sheet perspective the company ended the quarter with a cash balance of $2,334,559 and reported working capital in the amount of $5,637,823 as of September 30, 2004. Howard M. Siegel, CEO speaking on behalf of AMAC commented, "We are pleased with our third straight quarter of growth in each of our business segments. Equally important, our results demonstrate our effective integration of acquisitions (funded primarily through cash from operations) to accelerate growth into existing and new geographic markets." Siegel added, "The result of management's commitment to the development of quality, healthcare communication products and services is clearly trending in a positive direction." 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 nine and three months ended September 30, 2004 and 2003 and balance sheets as of September 30, 2004 and December 31, 2003 are attached. SELECTED FINANCIAL DATA
Nine Months Ended Three Months Ended ------------------------------ ------------------------------ 9/30/2004 9/30/2003 9/30/2004 9/30/2003 ----------- ----------- ----------- ----------- Revenues $14,270,113 $12,166,200 $ 4,945,184 $ 4,311,348 Net Income $ 610,132 $ 372,430 $ 229,810 $ 157,529 Net Income per Share Basic $ 0.08 $ 0.05 $ 0.03 $ 0.02 Diluted $ 0.07 $ 0.05 $ 0.03 $ 0.02 Basic Weighted Average Shares Outstanding 7,862,958 7,436,685 7,990,632 7,448,854 Diluted Weighted Average Shares Outstanding 8,425,940 7,621,842 8,564,184 7,769,737 CONDENSED BALANCE SHEET September 30, December 31, 2004 2003 ----------- ----------- (Unaudited) ASSETS Current Assets $ 7,764,713 $ 6,909,456 Fixed Assets - Net 7,068,599 6,739,165 Other Assets 4,628,946 4,287,959 ----------- ----------- Total Assets $19,462,258 $17,936,580 =========== =========== LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities $ 2,126,890 $2,149,930 Deferred Income Tax 941,000 882,000 Long-term Debt 577,962 769,525 Long-term Capital Lease 48,880 119,814 Put Warrant Obligation 240,000 200,000 Other Liabilities 237,672 108,024 ----------- ----------- Total Liabilities $ 4,172,404 $ 4,229,293 Stockholders' Equity 15,289,854 13,707,287 ----------- ----------- Total Liabilities and Stockholders' Equity $ 19,462,258 $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: November 12, 2004 AMERICAN MEDICAL ALERT CORP. By: /s/ Richard Rallo ----------------------------------------------- Name: Richard Rallo Title: Chief Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----