Exhibit 99.1
(ALLIED HEALTHCARE LOGO)
Allied Healthcare International Inc. Reports Fiscal 2010
Fourth Quarter and Year-End Results
   
Fiscal 2010 Revenues Increased 8.0%, At Constant Exchange Rates
   
Fiscal 2010 Operating Income Increased 7.7%, At Constant Exchange Rates & Excluding Acquisition Costs
NEW YORK — December 7, 2010 —
Allied Healthcare International Inc. (NASDAQ: AHCI), a leading provider of flexible healthcare staffing services in the United Kingdom, today issued financial results for its fiscal 2010 fourth quarter and year-ended September 30, 2010.
To provide investors with a better understanding of the Company’s performance and because of fluctuations in foreign exchange rates, Allied is discussing its revenues, gross profit, selling, general & administrative (SG&A) expenses and operating income at constant exchange rates, which are calculated using the comparable prior period weighted average exchange rates. In addition, as the Company’s revenues and gross profit from our principal operations are denominated in pounds sterling but reported in United States dollars, an analysis, which is contained in the Historical Revenues and Gross Profit table at the end of this press release, is included of the last eight quarters’ revenues and gross profit in pounds sterling to enable investors to fully understand the underlying trends over these periods without the effects of currency exchange rates.
Fiscal Fourth Quarter Results
                                                                 
    Three Months Ended September 30,     Three Months Ended September 30,  
                    %                                     %  
    2010     2009     Change     2010     %     2009     %     Change  
(Amounts in thousands)   Revenues     Gross Profit  
 
                                                               
Homecare
  $ 64,244     $ 58,388       10.0 %   $ 19,934       31.0 %   $ 17,893       30.6 %     11.4 %
Nursing Homes
    4,998       6,568       -23.9 %     1,641       32.8 %     2,070       31.5 %     -20.7 %
Hospitals
    5,120       4,889       4.7 %     1,326       25.9 %     1,233       25.2 %     7.5 %
 
                                                   
Total, at constant exchange rates
    74,362       69,845       6.5 %     22,901       30.8 %     21,196       30.3 %     8.0 %
Effect of foreign exchange
    (3,945 )           -5.6 %     (1,189 )                           -5.6 %
 
                                                   
Total, as reported
  $ 70,417     $ 69,845       0.8 %   $ 21,712             $ 21,196               2.4 %
 
                                                   
                                                                 
                            SG&A  
SG&A, at constant exchange rates & excluding acquisition costs
                          $ 19,033             $ 17,010               11.9 %
Acquisition costs, at constant exchange rates
                            157                             0.9 %
 
                                                         
SG&A, at constant exchange rates
                            19,190               17,010               12.8 %
Effect of foreign exchange
                            (946 )                           -5.6 %
 
                                                         
Total SG&A, as reported
                          $ 18,244             $ 17,010               7.3 %
 
                                                         
                                                                 
                            Operating Income  
Operating income, at constant exchange rates & excluding acquisition cost
                          $ 3,868             $ 4,186               -7.6 %
Acquisition costs, at constant exchange rates
                            (157 )                           -3.8 %
 
                                                         
Operating income, at constant exchange rates
                            3,711               4,186               -11.3 %
Effect of foreign exchange
                            (243 )                           -5.8 %
 
                                                         
Operating income, as reported
                          $ 3,468             $ 4,186               -17.2 %
 
                                                         
                                                                 
                            Net Income Attributable to Allied  
                                    Basic             Basic          
                                    and             and          
                                    Diluted             Diluted          
                                    EPS             EPS          
Income from continuing operations attributable to Allied, excluding acquisition costs
                          $ 2,858     $ 0.07     $ 2,937     $ 0.07          
Acquisition costs
                            (146 )     -0.01                      
 
                                                       
Income from continuing operations attributable to Allied
                          $ 2,712     $ 0.06     $ 2,937     $ 0.07          
 
                                                       

 

 


The following information was filed by Allied Healthcare International Inc (AHCI) on Tuesday, December 7, 2010 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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