Vice President, Marketing
Medical Alert Corporation
MEDICAL ALERT CORPORATION REPORTS
for 2007 exceeds $7,400,000, representing a 23% increase over
balance sheet as of December 31, 2007 remains strong with working
increasing to approximately $3.6 million and debt to equity ratio
Ready Response program scheduled to expand to 6,200+ retail locations.
New York. -March 25, 2008 -
American Medical Alert Corp. (NASDAQ: AMAC) a provider of healthcare
communication services and advanced telehealth monitoring technologies, today
announced operating results for the quarter and year ended December 31,
for the quarter ended December 31, 2007, consisting primarily of monthly
recurring revenues (MRR), increased 15% to $9,271,953 as compared to $8,063,200
for the same period in 2006. Net income for the quarter ended December 31,
decreased 31% to $317,335 or $.03 per diluted share as compared to $458,565
$.05 per diluted share for the same period in 2006. The decrease is primarily
the result of initial costs associated with the implementing of Sarbanes Oxley
404 compliance program and certain relocation and training start up costs
related to our new Clovis, New Mexico facility. The Company is working with
State of New Mexico’s economic development department to secure incentives to
help offset certain of these aforementioned relocation and training
for the year ended December 31, 2007 increased 16% to $35,645,265, as compared
to $30,794,388 for the same period in 2006. Net income increased 20% to
$1,514,232 or $0.16 per diluted share as compared to a net income of $1,262,529
or $0.13 per diluted share for the previous year.
Company’s revenue for the year ended December 31, 2007 exceeded the Company’s
guidance for 2007. The Company projected that gross revenues, consisting
primarily of monthly recurring revenue (MRR), would increase by 15% to
$35,250,000. The Company’s net income was in line with the Company’s guidance
for 2007. The Company had projected net income of $1,500,000 for the year ending
December 31, 2007.
before interest, taxes and depreciation and amortization (“EBITDA”) for the year
ended December 31, 2007 increased 23% to $7,443,516 as compared to $6,041,404
for the same period in 2006.
Company continues to demonstrate increasing financial strength within its
balance sheet as reflected by its improved working capital position and debt
equity ratio. The Company’s working capital increased to $3,601,469 at December
31, 2007, as compared to $3,187,963 at December 31, 2006. The Company’s debt to
equity ratio was .26 to 1 at December 31, 2007 as compared to .34 to 1 at
December 31, 2006.
The following information was filed by American Medical Alert Corp (AMAC) on Tuesday, March 25, 2008 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.