Exhibit 99.1

 

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NEWS RELEASE

Contact:

Alliance HealthCare Services

Howard Aihara

Executive Vice President

Chief Financial Officer

(949) 242-5300

ALLIANCE HEALTHCARE SERVICES REPORTS FOURTH QUARTER

AND FULL YEAR 2012 RESULTS;

PROVIDES FULL YEAR 2013 FINANCIAL GUIDANCE

COMPANY CONTINUES TO ORGANICALLY GROW ADJUSTED EBITDA AND GENERATE

SIGNIFICANT CASH FLOW

NEWPORT BEACH, CA—March 13, 2013

–Alliance HealthCare Services, Inc. (NASDAQ:AIQ) (the “Company” or “Alliance”), a leading national provider of outpatient diagnostic imaging and radiation therapy services, announced results for the fourth quarter and full year ended December 31, 2012 and provided guidance for full year 2013.

Full Year 2012 Highlights

 

   

Full year 2012 Adjusted EBITDA increased 3.4% to $154.4 million from $149.3 million in 2011; excluding the sale/leaseback transaction completed in November 2012, which decreased Adjusted EBITDA by $1.3 million, full year 2012 Adjusted EBITDA would have increased 4.3% to $155.7 million compared to $149.3 million in 2011

 

   

Company made a $75 million voluntary term loan payment, reducing total leverage to 3.89x at year-end

 

   

The decrease in total debt for 2012, net of the change in cash and cash equivalents, totaled $53.8 million in 2012, excluding proceeds related to the sale/leaseback transaction, which exceeded the guidance range of $45 to $50 million

 

   

Cost saving initiatives generated $36 million in annualized savings since August 2011, surpassing the initial goal of $20-$25 million

 

   

Reverse stock split in December afforded the opportunity to switch stock exchange listing to the NASDAQ Global Market in February 2013

Fourth Quarter and Full Year 2012 Financial Results

Larry C. Buckelew, Chairman of the Board and Chief Executive Officer explained, “Our solid operating results for 2012 are due to the hard work of our dedicated team members and the successful implementation of Project Phoenix, the cost savings plan that we introduced in August 2011. Our corporate culture is increasingly focused on continuously driving operational efficiency, and has generated $36 million in annualized savings since inception. I am pleased to report that these cost savings improvements and enhanced efficiency have translated into year-over-year Adjusted EBITDA growth.”

 

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The following information was filed by Alliance Healthcare Services, Inc (AIQ) on Thursday, March 14, 2013 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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