Track topics on Twitter Track topics that are important to you
GRAND RAPIDS, MICHIGAN -- (Marketwired) -- 08/12/15 -- Agility Health, Inc. ("Agility Health" or "the Company") (TSX VENTURE: AHI) today reports its financial results for the three-month period ended June 30, 2015. All amounts are expressed in U.S. dollars unless indicated otherwise.
Financial and Operating Highlights for the Second Quarter and Year-to-Date
(All comparative figures are for the corresponding period of the prior year)
"We are greatly encouraged by the continued improvement in operating performance experienced in the second quarter," stated Steve Davidson, Agility Health's Chairman and CEO. "As expected, EBITDA for the quarter grew to a record $1.5 million or 10% of revenues, a positive result of ongoing efforts to focus on higher margin business opportunities combined with diligent expense management. This result is more than double the EBITDA percentage Agility experienced during the fiscal year 2014. Our goal remains to return Agility Health to profitability this year combined with growth driven organically, through timely acquisitions and 'greenfield' clinic expansions."
During the second 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 June 30, 2015, Agility Health operates 84 outpatient or onsite rehabilitation locations in 15 states. Agility Health's contract therapy services business provides rehabilitative services to 35 hospitals and inpatient rehabilitation units, 36 nursing homes, long-term care facilities and other service locations in 8 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.
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 NEXT ARTICLE
Alliances Astrazeneca Bioethics Boehringer Clinical Research Organization Collaborations GSK Johnson & Johnson Lilly Merck Mergers and Acquisitions Nexium Novartis Pfizer Roche Sanofi ...
Arthroplasty Joint Disorders Orthopedics Spinal Cord Disorders Orthopedics is the science or practice of correcting deformities caused by disease or damage to the bones and joints of the skeleton. This specialized branch of surgery may ...