Exhibit 99.1

 

AMERICAN SHARED HOSPITAL SERVICES

REPORTS FOURTH QUARTER AND 2015 RESULTS

  

San Francisco, CA – March 29, 2016 --

AMERICAN SHARED HOSPITAL SERVICES (NYSE MKT:AMS), a leading provider of turnkey technology solutions for advanced radiosurgical and radiation therapy services, today announced financial results for the fourth quarter and 2015.

 

Fourth Quarter Results

For the three months ended December 31, 2015, medical services revenue increased 4.3% to $4,162,000 compared to medical services revenue of $3,992,000 for the fourth quarter of 2014.

 

Net income for the fourth quarter of 2015 more than quadrupled to $277,000, or $0.05 per share, compared to net income of $58,000, or $0.01 per share, for the fourth quarter of 2014.

 

The total number of procedures performed in AMS' Gamma Knife business decreased 1.7% for the fourth quarter of 2015 compared to the same period of 2014, primarily due to the expiration of a site contract in March 2015. The increase in revenue despite the decrease in procedure volume reflected a favorable mix of treatments at the Company's retail sites, as well as an increase in Medicare reimbursement for Gamma Knife services that went into effect on January 1, 2015.

 

Medical services gross margin for the fourth quarter of 2015 increased to 44.7%, compared to medical services gross margin of 38.6% for the fourth quarter of 2014. The improvement in gross margin was primarily the result of reduced maintenance costs.

 

Operating income increased 91.9% to $731,000 for the fourth quarter of 2015 compared to operating income of $381,000 for the same period a year earlier. Pre-tax income, net of income attributable to non-controlling interest, increased to $383,000 for the fourth quarter of 2015 compared to pre-tax income, net of income attributable to non-controlling interest, of $154,000 for the fourth quarter of 2014.

 

Selling and administrative expenses for the fourth quarter of 2015 decreased 5.5% to $792,000 compared to SG&A expenses of $838,000 for the fourth quarter of 2014, primarily the result of lower consulting expenses.

 

2015 Results

For the twelve months ended December 31, 2015, medical services revenue increased 7.3% to $16,548,000 compared to medical services revenue of $15,417,000 for 2014. Revenue for 2014 included the Company's operations in Turkey, which were sold effective on May 31, 2014. Excluding prior year's revenue in Turkey, medical services revenue increased 11.2% for 2015 compared to 2014.

 

The net loss for 2015 was $1,522,000, or $0.28 per share. The loss was primarily attributable to a write-down of $2,140,000, or $0.40 per share, related to AMS' strategic equity investment in Mevion Medical Systems. Excluding this charge, the Company would have reported net income of $618,000, or $0.12 per share, for 2015. This compares to a net loss for 2014 of $952,000, or $0.19 per share, which included a pre-tax loss on the sale of the Turkey subsidiary of $572,000 and a pre-tax gain on foreign currency transactions of $161,000 due to the strengthening of the Turkish Lira against the U.S. Dollar.

 

The total number of procedures performed in AMS' Gamma Knife business increased 6.9% for 2015 compared to 2014, excluding procedures performed in Turkey. This increase reflected higher procedure volume at certain of AMS' existing sites, as well as the opening of the Company’s newest Gamma Knife site in Springfield, Oregon in December 2014, offset by the expiration of one Gamma Knife agreement in March 2015.

 

Operating income for 2015 increased to $1,980,000 compared to an operating loss of $50,000 for 2014.

 


The following information was filed by American Shared Hospital Services (AMS) on Tuesday, March 29, 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate American Shared Hospital Services'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-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by American Shared Hospital Services.

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