Alliance HealthCare Services

News Release

Page 1 of 13

August 4, 2016

 

Exhibit 99.1

 

NEWS RELEASE

 

CONTACT

 

Rhonda Longmore-Grund

 

Executive Vice President

Chief Financial Officer

 

949.242.5300

 

ALLIANCE HEALTHCARE SERVICES REPORTS RESULTS

FOR THE SECOND QUARTER AND SIX MONTHS ENDED JUNE 30, 2016

NEWPORT BEACH, CA — August 4, 2016 — Alliance HealthCare Services, Inc. (NASDAQ: AIQ) (the “Company”, “Alliance”, “we” or “our”), a leading national provider of outsourced radiology, oncology and interventional services, announced today the results for the quarter and six months ended June 30, 2016.

Second Quarter and Year-to-Date 2016 Highlights

 

·

The Company reported revenue totaling $125.3 million for the second quarter, a $6.8 million or 5.7% increase over the second quarter of last year, and $249.0 million year-to-date, a $21.1 million or 9.3% increase over prior year.

 

·

On a sequential basis vs. first quarter of 2016, revenue increased $1.6 million or 1.3%, and Adjusted EBITDA increased $4.1 million or 13.4%.

 

·

Net income attributable to Alliance was $2.5 million for the quarter, a $4.4 million increase over second quarter of prior year, and $1.3 million year-to-date, a $1.5 million increase over prior year.

 

·

GAAP Net Income per Share was $0.23 for the quarter and Adjusted Net Income per Share (as defined below) was $0.37.

 

·

GAAP Net Income per Share was $0.12 for the first half of 2016 and Adjusted Net Income per Share was $0.42.

 

·

The Company generated $34.4 million of Adjusted EBITDA (as defined below) for the quarter, compared to $34.0 million in the second quarter of prior year, and $64.8 million of Adjusted EBITDA year-to-date, compared to $64.1 million in 2015.

 

·

The Company continued to generate strong cash flow, with $35.2 million of quarterly operating cash flow, compared to $26.9 million in the second quarter prior year, and $57.9 million of year-to-date operating cash flow, compared to $47.7 million last year.

 

·

Alliance Radiology reported strong same-store volume growth of +2.0% for MRI and +5.8% for PET/CT for the quarter.

 

·

Alliance Interventional revenue increased $3.2 million, or 39.0%, to $11.2 million for the quarter.

 

·

Based on our results thus far this year, we are reaffirming full-year 2016 guidance for revenue ranging from $505-$535 million and Adjusted EBITDA of $130-$150 million.

 

2016 Financial Results

“Our solid results from the second quarter reflect growth, both sequentially and year-over-year, across our core business segments in Radiology and Oncology and positive contributions from Interventional Services. Across each of our businesses, actions we have taken to augment our sales and business development teams, and enhance the value proposition we provide our customers are improving our competitive position and are key elements of our strong performance in retaining existing customers and securing new customers,” stated Tom Tomlinson, Chief Executive Officer and President of Alliance HealthCare Services. “We continued the positive momentum in our Radiology business with another consecutive quarter of net new sales growth driven by strong same-store growth for MRI and PET/CT and improved performance in customer retention and contract renewal.  We are proud of our continued progress in Radiology as this marks the ninth consecutive quarter of same-store volume growth for MRI and sixth consecutive quarter of growth for PET/CT. Alliance Oncology continues to seek and build strong partnerships with high profile customers, adding Saint Peter’s University Hospital on June 1, along with the expectations of one or two additional transactions in the coming months. We remain committed to our long-term strategic investment in Alliance Interventional, and we are excited about the growth opportunities to expand our footprint as well as its role in enhancing our value proposition through our integrated value-added business model.”

 


The following information was filed by Alliance Healthcare Services, Inc (AIQ) on Thursday, August 4, 2016 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Alliance Healthcare Services, Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Alliance Healthcare Services, Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account