Atc Healthcare (AMEX:AHN)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more Atc Healthcare Charts. Click Here for more Atc Healthcare Charts.](/p.php?pid=staticchart&s=A%5EAHN&p=8&t=15)
Fifth graf, first sentence should read Thursday, June
16th (sted Tuesday, June 16th) and replay number in same graf should
read 1-888-203-1112 (sted 1-888-203-112)
The corrected release reads:
ATC HEALTHCARE ANNOUNCES FISCAL YEAR END 2005 RESULTS OF
OPERATIONS
ATC Healthcare, Inc. (AMEX:AHN - News), a national leader in
medical staffing, today announced results for its fourth quarter and
fiscal year end 2005, which ended February 28, 2005.
Revenues for the fourth quarter ended February 29, 2005 net of
discontinued operations were $15.7 million compared to $18.1 million
for the quarter ended February 29, 2004. Net loss for the quarter
ended February 28, 2005 was $8.8 million including a loss on
discontinued operations of $4.2 million or $0.35 per diluted share
(EPS), versus net loss of $277,000 including income from discontinued
operations of $775,000 or $0.01 per diluted share for the quarter
ended February 29, 2004.
Revenues net of discontinued operations for the year ended
February 28, 2005, were $67.9 million compared to $81.2 million for
the year ended February 29, 2004. Loss from operations net of
discontinued operations for the year ended February 28, 2005 was $8.5
million versus loss from operations net of discontinued operations of
$7.9 million in the prior fiscal year. Net loss for the year ended
February 28, 2005 including discontinued operations was $10.5 million
or $0.42 per diluted share (EPS), versus net loss of $6.2 million or
$0.25 per diluted share for the year ended February 29, 2004.
February 28, 2005 year end results were negatively impacted by a
$5.3 million charge to write-off goodwill associated with the closing
of offices and the sale of the AllCare Nursing business and a deferred
tax valuation allowance of $2.5 million. February 29, 2004 year end
results were negatively impacted by a $2.6 million office closing and
restructuring reserve taken in the third quarter.
In conjunction with this release, management will host a
teleconference Thursday, June 16, 2005 at 1:00 pm Eastern Time. The
dial in number is 1-800-967-7184 confirmation code 4239236. There will
be a 48 hour replay. The replay number is 1-888-203-1112, code
4239236.
About ATC Healthcare, Inc.
ATC is a national leader in medical staffing personnel to
hospitals, nursing homes, clinics and other health care facilities
with 49 locations doing business in 31 states. ATC provides
supplemental staffing, outsourcing and human resources solutions to
hospitals, nursing homes, medical and research facilities and
industry. Drawing from a pool of over 15,000 healthcare professionals
spanning more than 50 specialties, the Company supplies both clinical
and non-clinical personnel for short-term, long-term, and "traveling"
contract assignments. To learn more about the company's services,
visit their web site at www.atchealthcare.com.
This press release contains forward-looking statements. Actual
results could differ materially from those projected in the
forward-looking statements. Additional information concerning factors
that could cause actual results to differ materially from those in the
forward-looking statements is contained in ATC Healthcare, Inc. Annual
Report on Form 10-K for the year ended February 28, 2005 as filed with
the Securities and Exchange Commission on June 13, 2005.
-0-
*T
ATC HEALTHCARE, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
For the Three Months For the Year
Ended (unaudited) Ended
February February February February
28, 29, 28, 29,
2005 2004 2005 2004
-------- --------- --------- ---------
REVENUES:
Service revenues $ 15,683 $ 18,052 $ 67,937 $81,210
----------------------------------------------------------------------
COSTS AND EXPENSES:
Service costs 13,862 14,324 54,732 63,205
General and administrative
expenses 3,896 4,019 17,033 19,207
Depreciation and amortization 199 176 700 1,419
Office closing and
restructuring charge 982 -- 1,431 2,589
----------------------------------------------------------------------
Total operating expenses 18,939 18,519 73,896 86,420
----------------------------------------------------------------------
LOSS FROM OPERATIONS (3,256) (467) (5,959) (5,210)
----------------------------------------------------------------------
INTEREST AND OTHER EXPENSES
(INCOME):
Interest expense, net 568 560 2,191 1,863
Other expense (income), net (223) (53) (914) (139)
Expense related to TLCS
liability -- -- (2,293) --
----------------------------------------------------------------------
Total interest and other
expenses 345 507 (1,016) 1,724
----------------------------------------------------------------------
LOSS FORM CONTINUING OPERATIONS
BEFORE INCOME TAXES (3,601) (974) (4,943) (6,934)
INCOME TAX PROVISION 2,526 61 3,516 938
----------------------------------------------------------------------
NET LOSS FROM CONTINUING
OPERATIONS $ (6,127) $ (1,035)$ (8,459) $(7,872)
----------------------------------------------------------------------
DISCONTINUED OPERATIONS
NET(LOSS) INCOME FROM
DISCONTINUED OPERATIONS $ (2,695) $ 775 $ (1,945) $ 1,692
----------------------------------------------------------------------
NET LOSS ($8,822) ($260) (10,404) $(6,180)
----------------------------------------------------------------------
DIVIDENDS ACCRETED TO PREFERRED
SHAREHOLDERS $ 17 $ 17 $ 70 $ 67
NET LOSS AVAILABLE TO COMMON
SHAREHOLDERS $ (8,839) $ (277)$(10,474) $(6,247)
----------------------------------------------------------------------
(LOSS) INCOME EARNINGS PER SHARE:
( Loss) income from continuing
operations:
(Loss) income per common
share Basic and Diluted $ (0.24) $ (0.04)$ (0.34) $ (0.32)
======================================================================
(Loss) income from discontinued
operations:
(Loss) income Per common
share Basic and Diluted $ (0.11) $ 0.03 $ (0.08) $ 0.07
======================================================================
NET LOSS PER COMMON SHARE BASIC
AND DILUTED $ (0.35) $ (0.01)$ (0.42) $ (0.25)
======================================================================
WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING
Basic 25,695 24,899 25,113 24,468
======================================================================
Diluted 25,695 24,899 25,113 24,468
======================================================================
*T