American Medical Alert (NASDAQ:AMAC)
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American Medical Alert Corp. (Nasdaq: AMAC) announced that based on the
continued strong performance of its two business segments, the Company
projects that gross revenues, consisting primarily of monthly recurring
revenue (MRR), will increase to $39,200,000 while also projecting net
earnings to increase to $1,900,000, or $.20 per diluted share for the
year ending December 31, 2008.
Jack Rhian, President and Chief Executive Officer, explained, “This
projection is further evidence of our successful focus on improved year
over year net earnings. Based on our guidance, our net earnings will
have increased by 104% over the latest three years.
In addition, the Company is preparing to launch its new medication
management and dispensing system, MedSmart, in Q4 2008. Moreover, the
Company is anticipating certain additional TBCS daytime services awards
in the second half of 2008. Based on the commencement of anticipated
additional revenue arising from these activities, along with its current
residual revenue base, the Company expects to accelerate its revenue
growth in the early portion of 2009.”
Rhian continued, “In addition to our current
web marketing efforts, by increasing the visibility of the Walgreens
Ready Response brand through the recent release of Walgreen’s
chain-wide, in store signage plan supported by our new television
campaign, we believe this program has started and will continue to be a
material contributor to the go forward profitability of our HSMS
division.”
By way of reminder, the Company’s annual
meeting will take place on Tuesday, August 26, 2008 –
10:00 a.m. at Moses & Singer LLP, 405 Lexington Avenue, 12th Floor New
York, NY 10174.
About American Medical Alert Corp. (www.amac.com)
AMAC is a healthcare communications company dedicated to the provision
of support services to the healthcare community. AMAC's product and
service portfolio includes Personal Emergency Response Systems (PERS)
and emergency response monitoring, electronic medication reminder
devices, disease management monitoring appliances and healthcare
communication solutions services. AMAC operates nine communication
centers under local trade names: H-LINK®
OnCall, Long Island City, NY and Clovis NM, North Shore TAS, Port
Jefferson, NY, Live Message America, Audubon, NJ, ACT Teleservice,
Newington, CT and Springfield, MA, MD OnCall, Cranston RI and Capitol
Medical Bureau Rockville, MD, American MediConnect and Phone Screen
Chicago, IL to support the delivery of high quality, healthcare
communications.
This press release contains forward-looking statements that involve a
number of risks and uncertainties. Forward-looking statements may be
identified by the use of forward-looking terminology such as "may,"
"will," "expect," "believe," "estimate," "anticipate," "continue," or
similar terms, variations of those terms or the negative of those terms.
Important factors that could cause actual results to differ materially
from those indicated by such forward-looking statements are set forth in
the Company's filings with the Securities and Exchange Commission (SEC),
including the Company's Annual Report on Form 10-K, the Company's
Quarterly Reports on Forms 10-Q, and other filings and releases. These
include uncertainties relating to government regulation, technological
changes, costs relating to ongoing FCC remediation efforts, our
expansion plans and product liability risks.