CEO: Allied Healthcare International may provide guidance
Allied Healthcare International Inc. (Nasdaq: AHCI) interim CEO Sarah Eames said the provider of temporary health-care staffing may be able to provide guidance to shareholders in the future. Eames made the comments during a morning conference call.
“One of the ways going forward that I think we’ll be able to help our shareholders will be looking at the number of employed workers we have and the amount of time they work on average and as that increases, our volume increases and as we’re polishing up this 45-day recruitment pool, I would expect that we’ll be able to use that as maybe an opportunity to provide guidance to our shareholders,” Eames said.
Before the opening, Allied Healthcare reported fourth-quarter revenue of $73.2 million, up 6% from $69.2 million a year earlier. Analysts predicted $78.2 million in quarterly revenue.
For the three months ended Sept. 30, Allied Healthcare’s profit totaled $61.3 million, or $1.36 per share, up 147% from a loss of $131 million, or $2.92 per share, during the year-ago period. Wall Street analysts projected earnings of $0.06 per share.
Fourth-quarter selling, general and administrative expenses rose to $19.7 million, from $18.9 million. Gross profit during the three months climbed 8% to $22.7 million, from $21.1 million. The company said severance costs and related professional fees related to the resignation of its former CEO added $1.2 million in quarterly expenses.
Eames said the company does not want to increase its hospital market share.
“Allied Healthcare is not focused on increasing its hospital staffing business,” she said. “We are very much focused on providing more integrated health care in the community by working closely with social services.”
In midday trading, AHCI shares are up 4.78%, or $0.12, at $2.63. Over the last 52 weeks, shares have ranged from $1.95 to $3.75.
