Agility Health Reports 2014 Financial Results
(firmenpresse) - GRAND RAPIDS, MICHIGAN -- (Marketwired) -- 04/30/15 -- Agility Health, Inc. ("Agility Health or the "Company") (TSX VENTURE: AHI) today reports its financial results for the fourth quarter and year ended December 31, 2014. All amounts are expressed in U.S. dollars unless indicated otherwise.
During 2014, the Company focused its efforts on operational performance improvement, strengthening of the management team, administrative cost realignment, the discontinuation of certain operations and internal software development.
Financial and Operating Highlights for 2014
(All comparative figures are for the corresponding period of the prior year)
"Agility Health's financial results for 2014 showed improvement throughout the year, as we reset the Company with the objective of returning to consistent growth and profitability," stated Steve Davidson, Agility Health's Chairman and CEO. "The overall market for physiotherapy services is growing and we remain extremely well positioned to benefit from that opportunity. We are focused on lines of business which offer higher gross margins, evidenced by our year over year increase from 18% to 22%. We expect these higher margin levels combined with continued cost management to result in significant improvements in EBITDA during 2015.
In addition, we look forward to reporting updates on several "greenfield" clinic expansions and timely acquisitions as the year unfolds to complement organic growth initiatives. "
Financial and Operating Highlights for the Fourth Quarter, 2014
Selected Financial Information
About Agility Health
Through its subsidiary and principal operating entity, Agility Health, LLC, Agility Health operates a multi-state network of outpatient rehabilitation clinics and provides contracted services to hospitals, nursing homes and other institutional clients, providing care and treatment for orthopedic-related disorders, sports-related injuries, preventative care, rehabilitation of injured workers, and a variety of other injuries and conditions. In addition, Agility Health provides a number of ancillary services related to physical rehabilitation, including practice management software systems and custom orthotics. As of December 31, 2014, Agility Health operates 74 outpatient or onsite rehabilitation locations in 17 states. Agility Health's contract therapy services business provides rehabilitative services to 42 hospitals and inpatient rehabilitation units, 35 nursing homes, long-term care facilities and other service locations in 9 states. For more information, please visit investors.agilityhealth.com.
Non-IFRS Financial Measures
Agility Health's consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS). The Company also uses certain non-IFRS measures, such as EBITDA and Adjusted EBITDA to measure its financial performance. EBITDA is defined by the Company as the addition of net loss, depreciation and amortization and financial expenses. Adjusted EBITDA is defined as EBITDA before acquisition expenses, certain legal expenses and provision adjustments, public listing expense, public transaction expenses, contingent consideration expenses, fair value adjustments on warrants and obligations, share-based compensation expense, contract termination fees (non-recurring revenue) and any restructuring expenses. The Company uses Adjusted EBITDA for the purpose of evaluating the quality of historical and prospective financial and operational performance. Management believes that Adjusted EBITDA is a useful measure for evaluating the performance of the Company and is useful supplemental information to a reader of financial statements. Adjusted EBITDA as well as EBITDA are not recognized measures under IFRS and do not have standardized meanings prescribed by IFRS and may not be comparable to similarly titled financial metrics reported by other companies.
Forward-Looking Information
This press release contains forward-looking statements regarding Agility Health and its business. Such statements are based on the current expectations and views of future events of Agility Health's management. In some cases the forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward-looking statements. The forward-looking events and circumstances discussed in this release, including the anticipated future growth of Agility Health, may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumption and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Agility Health undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither the TSX Venture Exchange nor its Regulatory Service Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Steven N. Davidson
Chairman and Chief Executive Officer
(616) 356-5000
Terry Vanderkruyk
Chief Corporate Development Officer
(604) 961-3844
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Datum: 01.05.2015 - 00:04 Uhr
Sprache: Deutsch
News-ID 390096
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contact information:
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GRAND RAPIDS, MICHIGAN
Kategorie:
Health & Nutrition
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