Exhibit 99.1
Allied Healthcare International Inc. Reports Fiscal 2009
Fourth Quarter and Year-End Results
Fourth Quarter Revenues Increase 8.4%, At Constant Exchange Rates
Fourth Quarter Operating Income Increases 16.1%, At Constant Exchange Rates
Fiscal 2009 Revenues Increase 6.4%, At Constant Exchange Rates
Fiscal 2009 Operating Income Increases 37.5%, At Constant Exchange Rates
                 
(In millions, except EPS)   Fourth
Quarter
    Twelve
Months
 
Revenues, as reported
  $ 69.8     $ 249.8  
Revenues, at constant exchange rates
  $ 81.2     $ 317.7  
Gross Profit, as reported
  $ 21.2     $ 76.3  
Gross Profit, at constant exchange rates
  $ 24.6     $ 97.1  
Gross Profit %
    30.3 %     30.6 %
Operating Income, as reported
  $ 4.2     $ 13.1  
Operating Income, at constant exchange rates
  $ 5.0     $ 17.5  
Diluted EPS, continuing operations
  $ 0.07     $ 0.22  
NEW YORK — November 24, 2009 — Allied Healthcare International Inc. (Nasdaq: AHCI; AIM: AHI, http://www.alliedhealthcare.com), a leading provider of flexible healthcare staffing services in the United Kingdom, has issued financial results for its fiscal 2009 fourth quarter and year-end.
To provide investors with an increased understanding of the Company’s business, Allied is providing a breakdown of its revenues, gross profits, selling, general and administrative (“SG&A”) costs and operating income at constant exchange rates using the comparable prior period weighted average exchange rate. Further, the discussions below as to the fiscal 2009 fourth quarter and year end comparative analysis with the prior year results also take into account constant exchange rates. In addition, as the Company’s revenues and gross profits are generated in the United Kingdom, an analysis is included, within the management discussion below, of the last eight quarters’ revenues and gross profits in pounds sterling to enable investors to fully understand the underlying trends over these periods without the effects of currency exchange rates. As noted in the reported numbers, recent fluctuations in foreign exchange rates have significantly impacted the Company’s current period results.
Fiscal Fourth Quarter Results:
                                                                                 
    Quarter Ended September 30, 2009     Quarter Ended September 30, 2008  
                                    Gross                                     Gross  
                    Gross             Profit                     Gross             Profit  
(Amounts in thousands)   Revenue     %     Profit     %     %     Revenue     %     Profit     %     %  
 
                                                                               
Homecare
  $ 68,116       83.8 %   $ 20,845       84.6 %     30.6 %   $ 57,469       76.6 %   $ 17,967       78.4 %     31.3 %
Nursing Homes
    7,540       9.3 %     2,379       9.7 %     31.6 %     9,730       13.0 %     2,941       12.8 %     30.2 %
Hospitals
    5,577       6.9 %     1,405       5.7 %     25.2 %     7,769       10.4 %     2,003       8.8 %     25.8 %
 
                                                                       
Total, at constant exchange rates
    81,233               24,629               30.3 %     74,968               22,911               30.6 %
Effect of foreign exchange
    (11,388 )             (3,433 )                                                    
 
                                                                   
Total, as reported
  $ 69,845             $ 21,196                     $ 74,968             $ 22,911                  
 
                                                                       
 
SG&A, at constant exchange rates
                  $ 19,589                                     $ 18,570                  
Effect of foreign exchange
                    (2,579 )                                                      
 
                                                                           
SG&A, as reported
                  $ 17,010                                     $ 18,570                  
 
                                                                           
 
Operating Income, at constant exchange rates
                  $ 5,040                                     $ 4,341                  
Effect of foreign exchange
                    ( 854 )                                                      
 
                                                                           
Operating Income, as reported
                  $ 4,186                                     $ 4,341                  
 
                                                                           

 

 


The following information was filed by Allied Healthcare International Inc (AHCI) on Tuesday, November 24, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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