Agility Health Reports First Quarter 2015 Financial Results
(firmenpresse) - GRAND RAPIDS, MICHIGAN -- (Marketwired) -- 05/29/15 -- Agility Health, Inc. ("Agility Health or "the Company") (TSX VENTURE: AHI), today reports its financial results for the three-month period ended March 31, 2015. All amounts are expressed in U.S. dollars unless indicated otherwise.
Financial and Operating Highlights for the First Quarter and Year-to-Date
(All comparative figures are for the corresponding period of the prior year)
"We are very encouraged by the positive trends in EBITDA improvement, gross margin expansion and revenue growth experienced by Agility during the first quarter," stated Steve Davidson, Agility Health's Chairman and CEO. "Our focus on operational improvements has resulted in a significantly improved trend in EBITDA which we believe should continue going forward, as we head into the historically higher volume quarters of the year.
Our goal remains to return Agility Health to profitability this year combined with continued growth driven organically, through timely acquisitions and "greenfield" clinic expansions."
Mr. Davidson added, "A particular highlight so far this year has been the strong performance of Agility's Industrial Rehabilitation Division and our wholly owned subsidiary Work-Fit LLC, expanding our relationships with key corporate clients such as the Ford Motor Company. Working with clients inside their world-class manufacturing environments to reduce work related injuries and drive down health care costs, while contributing to the overall wellness of the employee population is gratifying. We look forward to providing more updates on our corporate health initiatives going forward."
Subsequent to the end of the first quarter, the Company announced the following developments:
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 March 31, 2015, Agility Health operates 70 outpatient or onsite rehabilitation locations in 16 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. Adjusted EBITDA as well as EBITDA, are not recognized measures under IFRS and do not have standardized meaning 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", "should" 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.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Agility Health, Inc.
Terry Vanderkruyk
Chief Corporate Development Officer
604-961-3844
Agility Health, Inc.
Steven N. Davidson
Chairman and Chief Executive Officer
(616) 356-5000
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Datum: 29.05.2015 - 21:04 Uhr
Sprache: Deutsch
News-ID 396900
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GRAND RAPIDS, MICHIGAN
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Healthcare
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