Alliance HealthCare Services, Inc. (NASDAQ: AIQ) (the “Company”,
“Alliance”, “we” or “our”), a leading national provider of
outsourced radiology, oncology and interventional services,
announced today the results for the quarter ended March 31,
2016.
First Quarter 2016 Highlights
- The Company reported revenue totaling
$123.7 million, a 13.1% increase over first quarter of prior
year.
- The Company generated $30.4 million of
Adjusted EBITDA (as defined below), compared to $30.1 million in
the first quarter of prior year.
- The Company generated $22.7 million of
operating cash flow, compared to $20.8 million in the first quarter
prior year.
- Alliance Radiology reported strong
same-store volume growth of +6.6% for MRI and +9.3% for
PET/CT.
- Alliance Oncology continued its
same-store volume growth trends, with same-store stereotactic
radiosurgery volume growth of +9.0% and linear accelerator growth
of +5.6%.
- The Company reported Adjusted Net
Income per Share (as defined below) of $0.04 and GAAP Net Loss per
Share of ($0.11).
- Rhonda Longmore-Grund assumed position
as CFO on March 10, 2016, as part of planned leadership
transition.
- On March 29, 2016, THAI HOT Investment
Company Limited ("Thai Hot") completed a majority ownership
purchase of common stock from existing shareholders of the Company.
As a result of the purchase, Thai Hot now owns approximately 51.5%
of the outstanding shares of common stock of the Company.
First Quarter 2016 Financial Results
“Our financial results for the first quarter reflect the
continuation of the positive revenue momentum we built in 2015,
reinforced by our strong market positions in Radiology and Oncology
and our expanding footprint in Interventional services,” stated Tom
Tomlinson, Chief Executive Officer and President of Alliance
HealthCare Services. “We are pleased with the pace of execution
against our long-term growth strategy. During the quarter we drove
same store volume growth across our Radiology business while also
delivering net new revenue growth in the core hospital segment.
Alliance Oncology grew same store volume overall, both in linear
accelerator and stereotactic radiosurgery disciplines. Now that we
have successfully acquired two strong interventional practices, we
are focused on integration of these practices and building a strong
foundational infrastructure to support future growth in this new
platform. In addition, we completed a transfer of ownership to a
new majority shareholder, which should contribute to accelerating
the growth and profitability of the Company. These accomplishments
provide us confidence in the fundamentals of our business, our
future prospects and our ability to generate revenue and Adjusted
EBITDA growth for our investors over the course of 2016.”
Revenue for the first quarter of 2016 increased to $123.7
million, compared to $109.4 million in the first quarter of 2015.
This increase was primarily due to an increase in interventional
services revenue of $7.8 million, in MRI revenue of $4.7 million
and in oncology revenue of $1.9 million. PET/CT and other revenues
for the first quarter 2016 remained consistent with first quarter
2015.
Alliance’s Adjusted EBITDA increased 0.8% to $30.4 million from
$30.1 million in the first quarter of 2015. The increase was
primarily driven by our expansion into the interventional services
line of business and increased total volume of Linac treatments,
SRS patients, and MRI and PET/CT scans, partially offset by planned
MRI and PET/CT price reductions.
Alliance’s Net Loss, computed in accordance with GAAP, totaled
$1.2 million in the first quarter of 2016 compared to Net Income of
$1.8 million in the first quarter of 2015.
Net loss per share on a diluted basis, computed in accordance
with GAAP, was ($0.11) per share in the first quarter of 2016
compared to net income per share of $0.16 per share for same
quarter of 2015. Net (loss) income per share on a diluted basis was
impacted by $0.15 in the first quarter of 2016 and $0.14 in the
first quarter of 2015 due to restructuring charges, severance and
related costs, transaction and shareholder transaction costs, legal
matter expenses and differences in the GAAP income tax rate from
our historical income tax rate of 42.5%. As a result, adjusted net
income per diluted share – non-GAAP was $0.04 for the first quarter
2016 and $0.30 for the same quarter of 2015.
Cash flows provided by operating activities totaled $22.7
million in the first quarter of 2016, compared to $20.8 million in
the first quarter of 2015. In the first quarter of 2016, total
capital expenditures, including cash and financed capital
expenditures, were $22.2 million compared to $16.5 million in the
first quarter of 2015.
Alliance’s net debt, defined as total long-term debt (including
current maturities but excluding the impact of deferred financing
costs) less cash and cash equivalents, increased $0.1 million to
$539.7 million at March 31, 2016 from $539.6 million at December
31, 2015. Cash and cash equivalents were $42.7 million at March 31,
2016 and $38.1 million at December 31, 2015.
The Company’s net debt, as defined above, divided by the last
twelve months Consolidated Adjusted EBITDA was 3.91x for the twelve
month period ended March 31, 2016, compared to 3.53x for the twelve
month period ended a year ago. The Company’s total debt, as defined
above, divided by the last twelve months Consolidated Adjusted
EBITDA was 4.22x for the twelve month period ended March 31, 2016,
compared to 3.75x for the twelve-month period ended a year ago.
Full Year 2016 Guidance
Alliance is confirming its full year 2016 guidance ranges as
follows:
Ranges (dollars in millions) Revenue $505 -
$535 Adjusted EBITDA $130 - $150 Capital expenditures Maintenance
Approx. $35 Growth $45 - $55
Decrease/(Increase) in long-term debt, net
of the change in cash and cash equivalents (before investments in
acquisitions), before growth capital expenditures or "free cash
flow before growth capital expenditures"
$20 - $40
Decrease/(Increase) in long-term debt, net
of the change in cash and cash equivalents (before investments in
acquisitions), after growth capital expenditures or "free cash flow
after growth capital expenditures"
($15) - ($25)
First Quarter 2016 Earnings Conference Call
Investors and all others are invited to listen to a conference
call discussing first quarter 2016 results. The conference call is
scheduled for Thursday, May 5, 2016 at 5 p.m. Eastern Time.
Additionally, a live webcast of the call will be available on the
Company’s website at www.alliancehealthcareservices-us.com. Click
on “About Us,” then, “Investor Relations.” You will find the Audio
Presentation in the “News & Events” section. A replay of the
webcast will be available on the Company’s website until June 5,
2016.
The conference call can be accessed at 877.638.4550
(International callers can dial 973.582.2737). Interested parties
should call at least five minutes prior to the call to register. A
telephone replay will be available until June 5, 2016. The
telephone replay can be accessed by calling 800.585.8367. The
conference call identification number is 1430359.
Definition of Non-GAAP Measures
Adjusted EBITDA and Adjusted Net Income Per Share are not
measures of financial performance under generally accepted
accounting principles in the United States (“GAAP”).
For a more detailed discussion of these non-GAAP financial
measures and a reconciliation to the most directly comparable GAAP
financial measure, see the section entitled “Non-GAAP Measures”
included in the tables following this release.
About Alliance HealthCare Services
Alliance HealthCare Services (NASDAQ: AIQ) is a leading national
provider of outsourced healthcare services to hospitals and
providers. We also operate freestanding outpatient radiology,
oncology and interventional services clinics, and Ambulatory
Surgical Centers (“ASC”) that are not owned by hospitals or
providers. Diagnostic radiology services are delivered through the
Radiology Division (Alliance HealthCare Radiology), radiation
oncology services are delivered through the Oncology Division
(Alliance Oncology), and interventional and pain management
services are delivered through the Interventional Services Division
(Alliance HealthCare Interventional Partners). Alliance is the
nation’s largest provider of advanced diagnostic mobile imaging
services, an industry-leading operator of fixed-site imaging
centers, and a leading provider of stereotactic radiosurgery
nationwide. As of March 31, 2016, Alliance operated 601 diagnostic
radiology and radiation therapy systems, including 117 fixed-site
radiology centers across the country, and 32 radiation therapy
centers and SRS facilities. With a strategy of partnering with
hospitals, health systems and physician practices, Alliance
provides quality clinical services for over 1,000 hospitals and
other healthcare partners in 45 states, where approximately 2,400
Alliance Team Members are committed to providing exceptional
patient care and exceeding customer expectations. For more
information, visit www.alliancehealthcareservices-us.com.
Forward-Looking Statements
This press release contains forward-looking statements relating
to future events, including statements related to the Company’s
long-term growth strategy and efforts to diversify its business
model, the Company’s plans to expand its new Interventional
Services Division, both organically and through one or more
acquisitions, the Company’s expectations regarding growth across
the Company’s divisions, the expansion of its service footprint and
revenue growth, maximizing shareholder value, and the Company’s
Full Year 2016 Guidance, including its forecasts of revenue,
Adjusted EBITDA, capital expenditures, and increase in long-term
debt. In this context, forward-looking statements often address the
Company’s expected future business and financial results and often
contain words such as “expects,” “anticipates,” “intends,” “plans,”
“believes,” “seeks” or “will.” Forward-looking statements by their
nature address matters that are uncertain and subject to risks.
Such uncertainties and risks include: changes in the preliminary
financial results and estimates due to the restatement or review of
the Company’s financial statements; the nature, timing and amount
of any restatement or other adjustments; the Company’s ability to
make timely filings of its required periodic reports under the
Securities Exchange Act of 1934; issues relating to the Company’s
ability to maintain effective internal control over financial
reporting and disclosure controls and procedures; the Company’s
high degree of leverage and its ability to service its debt;
factors affecting the Company’s leverage, including interest rates;
the risk that the counterparties to the Company’s interest rate
swap agreements fail to satisfy their obligations under these
agreements; the Company’s ability to obtain financing; the effect
of operating and financial restrictions in the Company’s debt
instruments; our ability to comply with reporting obligations and
other covenants under our debt instruments, the failure of which
could cause the debt to become due; the accuracy of the Company’s
estimates regarding its capital requirements; the effect of intense
levels of competition and overcapacity in the Company’s industry;
changes in the methods of third party reimbursements for diagnostic
imaging and radiation oncology services; fluctuations or
unpredictability of the Company’s revenues, including as a result
of seasonality; changes in the healthcare regulatory environment;
the Company’s ability to keep pace with technological developments
within its industry; the growth or lack thereof in the market for
radiology, oncology, interventional and other services; the
disruptive effect of hurricanes and other natural disasters;
adverse changes in general domestic and worldwide economic
conditions and instability and disruption of credit and equity
markets; difficulties the Company may face in connection with
recent, pending or future acquisitions, including unexpected costs
or liabilities resulting from the acquisitions, diversion of
management’s attention from the operation of the Company’s
business, costs, delays and impediments to completing the
acquisitions, and risks associated with integration of the
acquisitions; and other risks and uncertainties identified in the
Risk Factors section of the Company’s Form 10-K for the year ended
December 31, 2015, filed with the Securities and Exchange
Commission (the “SEC”), as may be modified or supplemented by our
subsequent filings with the SEC. These uncertainties may cause
actual future results or outcomes to differ materially from those
expressed in the Company’s forward-looking statements. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. The Company
does not undertake to update its forward-looking statements except
as required under the federal securities laws.
ALLIANCE HEALTHCARE SERVICES, INC. CONDENSED CONSOLIDATED
STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME
(in thousands, except per share amounts) Quarter
Ended March 31, (unaudited) 2016
2015 Revenues $ 123,725 $ 109,429 Costs and expenses: Cost
of revenues, excluding depreciation and amortization 70,914 61,886
Selling, general and administrative expenses 25,265 20,955
Transaction costs 417 419 Shareholder transaction costs 1,009 —
Severance and related costs 1,716 259 Impairment charge — 76
Depreciation expense 13,048 11,633 Amortization expense 2,443 2,035
Interest expense and other, net 7,495 6,018 Other (income) and
expense, net (787 ) (359 ) Total costs and
expenses 121,520 102,922
Income before income taxes, earnings from
unconsolidated investees, and noncontrolling interest
2,205 6,507 Income tax (benefit) expense (945 ) 1,572 Earnings from
unconsolidated investees (252 ) (1,163 ) Net
income 3,402 6,098 Less: Net income attributable to noncontrolling
interest (4,592 ) (4,347 ) Net (loss) income
attributable to Alliance Health Care Services,
Inc.
$ (1,190 ) $ 1,751 Comprehensive loss, net of taxes
Net (loss) income attributable to Alliance
HealthCare Services, Inc.
$ (1,190 ) $ 1,751 Unrealized loss on hedging transactions, net of
taxes (38 ) (128 ) Comprehensive (loss)
income, net of taxes: $ (1,228 ) $ 1,623
(Loss) income per common share
attributable to Alliance HealthCare Services, Inc.:
Basic $ (0.11 ) $ 0.16 Diluted $ (0.11 ) $ 0.16
Weighted average number of shares of
common stock and common stock equivalents:
Basic 10,779 10,714 Diluted 10,779 10,842
ALLIANCE
HEALTHCARE SERVICES, INC. CONDENSED CONSOLIDATED BALANCE
SHEETS (in thousands) March 31,
December 31, (unaudited) (audited) 2016
2015 ASSETS Current assets: Cash and cash equivalents
$ 42,691 $ 38,070 Accounts receivable, net of allowance for
doubtful accounts 71,918 73,208 Prepaid expenses 12,090 13,463
Other receivables 2,976 3,206 Total current assets
129,675 127,947 Plant, property and equipment, net 187,697 177,188
Goodwill 104,126 102,782 Other intangible assets, net 162,442
162,923 Other assets 33,705 32,820 Total assets $
617,645 $ 603,660
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities: Accounts payable $ 19,824 $ 20,796 Accrued
compensation and related expenses 20,438 19,933 Accrued interest
payable 3,312 3,323 Current portion of long-term debt 17,634 17,732
Current portion of obligations under capital leases 2,282 2,674
Other accrued liabilities 40,087 36,453 Total current
liabilities 103,577 100,911 Long-term debt, net of current portion
and deferred financing costs 521,499 540,353 Obligations under
capital leases, net of current portion 9,801 10,332 Deferred income
taxes 21,582 23,020 Other liabilities 7,013 6,664
Total liabilities 663,472 681,280 Stockholders’ deficit:
Common stock 109 108 Treasury stock (3,138 ) (3,138 ) Additional
paid-in capital 60,158 29,297 Accumulated comprehensive loss (549 )
(511 ) Accumulated deficit (199,583 ) (198,393 )
Total stockholders’ deficit attributable to Alliance HealthCare
Services, Inc. (143,003 ) (172,637 ) Noncontrolling interest
97,176 95,017 Total stockholders’ deficit (45,827 )
(77,620 ) Total liabilities and stockholders’ deficit $
617,645 $ 603,660
ALLIANCE HEALTHCARE SERVICES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited) (in thousands) Three Months
Ended March 31, 2016 2015 Operating
activities: Net income $ 3,402 $ 6,098 Adjustments to reconcile
net income to net cash provided by operating activities: Provision
for doubtful accounts 270 438 Share-based payment 1,402 389
Depreciation and amortization 15,491 13,668 Amortization of
deferred financing costs 960 483 Accretion of discount on long-term
debt 126 114 Adjustment of derivatives to fair value (114 ) 72
Distributions more than undistributed earnings from investees (35 )
254 Deferred income taxes (1,438 ) 1,096 Gain on sale of assets
(296 ) — Impairment charges — 76 Excess tax benefit from
share-based payment arrangements 436 5 Changes in operating assets
and liabilities, net of the effects of acquisitions: Accounts
receivable 1,020 1,928 Prepaid expenses 1,102 (45 ) Other
receivables 230 (2 ) Other assets 160 1,326 Accounts payable (4,493
) 563 Accrued compensation and related expenses 505 (4,066 )
Accrued interest payable (11 ) (22 ) Income taxes payable (14 ) —
Other accrued liabilities 4,003 (1,597 ) Net cash
provided by operating activities 22,706 20,778
Investing activities: Equipment purchases (17,675 ) (7,565 )
Increase in deposits on equipment (4,489 ) (1,836 ) Acquisitions,
net of cash received (1,018 ) (23,630 ) Proceeds from sale of
assets 830 120 Net cash used in investing activities
(22,352 ) (32,911 )
ALLIANCE HEALTHCARE
SERVICES, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH
FLOWS (continued) (Unaudited) (in thousands)
Three Months Ended March 31, 2016
2015 Financing activities: Principal payments on
equipment debt and capital lease obligations (3,956 ) (1,973 )
Proceeds from equipment debt 962 — Principal payments on term loan
facility (1,300 ) (6,126 ) Proceeds from revolving loan facility
15,000 23,000
Principal payments on revolving loan
facility
(6,000 ) — Payments of debt issuance and deferred financing costs
(24,969 ) — Noncontrolling interest in subsidiaries (4,149 ) (4,313
) Excess tax benefit from share-based payment arrangements (436 )
(5 ) Issuance of common stock 1 — Proceeds from shared-based
payment arrangements 485 6 Proceeds from shareholder transaction
28,629 — Net cash provided by financing activities
4,267 10,589 Net increase (decrease) in cash and cash
equivalents 4,621 (1,544 ) Cash and cash equivalents,
beginning of period 38,070 33,033 Cash and cash
equivalents, end of period $ 42,691 $ 31,489
Supplemental
disclosure of cash flow information: Interest paid $ 6,448 $
5,427 Income taxes (refunded) paid, net of payments (refunds) (73 )
40
Supplemental disclosure of non-cash investing and
financing activities: Capital lease obligations related to the
purchase of equipment $ — $ 1,294 Equipment purchases in accounts
payable 3,521 1,225 Noncontrolling interest assumed in connection
with acquisitions 1,716 20,598 Extinguishment of note receivable —
3,071 Debt related to purchase of deposits on equipment — 4,069
Debt related to purchase of equipment — 3,025 Debt related to other
assets — 854
ALLIANCE HEALTHCARE SERVICES,
INC.NON-GAAP MEASURES(in thousands)
Adjusted EBITDA and Adjusted Net Income Per Share (the “Non-GAAP
Measures”) are not measures of financial performance under
generally accepted accounting principles in the United States, or
“GAAP.”
Adjusted EBITDA, as defined by the Company’s management,
represents net income (loss) before: interest expense, net of
interest income; income tax (benefit) expense; depreciation
expense; amortization expense; net income attributable to
noncontrolling interest; non-cash share-based payment; severance
and related costs; restructuring charges; fees and expenses related
to acquisitions, costs related to debt financing, legal matter
expenses, non-cash impairment charges, and other non-cash charges
included in other (income) expense, net, which includes non-cash
losses on sales of equipment. The components used to reconcile Net
Income (Loss) to Adjusted EBITDA are consistent with our historical
presentation of Adjusted EBITDA.
Adjusted Net Income Per Share, as defined by the Company’s
management, represents net income (loss) before: restructuring
charges; fees and expenses related to acquisitions; legal matter
expenses; and differences in the GAAP income tax rate compared to
our historical income tax rate. The components used to reconcile
net income (loss) per share to Adjusted Net Income Per Share are
consistent with our historical presentation of Adjusted Net Income
Per Share.
Management uses the Non-GAAP Measures, and believes they are
useful measures for investors, for a variety of reasons. Management
regularly communicates the results of its Non-GAAP Measures and
management’s interpretation of such results to its board of
directors. Management also compares the Company’s results of its
Non-GAAP Measures against internal targets as a key factor in
determining cash incentive compensation for executives and other
employees, largely because management feels that these measures are
indicative of how our radiology, oncology and interventional
services businesses are performing and are being managed. The
diagnostic imaging and radiation oncology industry continues to
experience significant consolidation. These activities have led to
significant charges to earnings, such as those resulting from
acquisition costs, and to significant variations among companies
with respect to capital structures and cost of capital (which
affect interest expense) and differences in taxation and book
depreciation of facilities and equipment (which affect relative
depreciation expense), including significant differences in the
depreciable lives of similar assets among various companies. In
addition, management believes that because of the variety of equity
awards used by companies, the varying methodologies for determining
non-cash share-based compensation expense among companies and from
period to period, and the subjective assumptions involved in that
determination, excluding non-cash share-based compensation from
Adjusted EBITDA enhances company-to-company comparisons over
multiple fiscal periods and enhances the Company’s ability to
analyze the performance of its radiology, oncology and
interventional services businesses.
In the future, the Company expects that it may incur expenses
similar to the excluded items discussed above. Accordingly, the
exclusion of these and other similar items in the Company’s
non-GAAP presentation should not be interpreted as implying that
these items are non-recurring, infrequent or unusual. The Non-GAAP
Measures have certain limitations as analytical financial measures,
which management compensates for by relying on the Company’s GAAP
results to evaluate its operating performance and by considering
independently the economic effects of the items that are or are not
reflected in the Non-GAAP Measures. Management also compensates for
these limitations by providing GAAP-based disclosures concerning
the excluded items in the Company’s financial disclosures. As a
result of these limitations and because the Non-GAAP Measures may
not be directly comparable to similarly titled measures reported by
other companies, however, the Non-GAAP Measures should not be
considered as an alternative to the most directly comparable GAAP
measure, or as an alternative to any other GAAP measure of
operating performance.
The calculation of Adjusted EBITDA is shown below:
Three Months Ended March 31,
Twelve Months Ended March 31,
2016 2015 2016 Net (loss) income
attributable to Alliance HealthCare Services, Inc. $ (1,190 ) $
1,751 $ 3,801 Income tax (benefit) expense (945 ) 1,572 4,019
Interest expense and other, net 7,495 6,018 27,718 Depreciation
expense 13,048 11,633 50,010 Amortization expense 2,443 2,035 9,508
Share-based payment (included in selling,
general and administrative expenses)
1,865 389 3,177 Severance and related costs 1,716 259 2,777
Noncontrolling interest in subsidiaries 4,592 4,347 20,618
Restructuring charges 231 255 1,303 Transaction costs 417 419 3,294
Shareholder transaction costs 1,009 — 2,862 Impairment charges — 76
6,741 Legal matter expenses 155 1,360 5,710 Non-cash gain on step
acquisition (included in other (income) and expense, net) — —
(10,672 ) Other non-cash charges (included in other (income) and
expenses, net) (464 ) 2 651 Adjusted EBITDA $
30,372 $ 30,116 $ 131,517
The leverage ratio calculations as of March 31, 2016, are shown
below:
Consolidated Total debt $
582,435 Less: Cash and cash equivalents (42,691 ) Net debt
539,744 Last 12 months Adjusted EBITDA 131,517 Pro-forma
acquisitions in the last 12 month period (1) 6,482 Last 12
months Consolidated Adjusted EBITDA 137,999 Total leverage ratio
4.22 x Net leverage ratio 3.91 x
______________
(1) Gives pro-forma effect to acquisitions occurring during the
last twelve months pursuant to the terms of the Credit
Agreement.
The reconciliation of (loss) income per diluted share – GAAP to
adjusted net income per diluted share non-GAAP is shown below:
Quarter Ended March 31, 2016
2015 (Loss) income per diluted share- GAAP $ (0.11 ) $ 0.16
Restructuring charges, net of taxes 0.01 0.01 Severance and related
charges, net of taxes 0.09 0.01 Transaction costs, net of taxes
0.02 0.02 Shareholder transaction costs, net of taxes 0.05 —
Impairment charges, net of taxes — — Legal matter expenses, net of
taxes 0.01 0.07
GAAP income tax rate compared to our
historical income tax rate
(0.04 ) 0.04 Adjusted net income per diluted share-
non-GAAP $ 0.04 $ 0.30
The reconciliation from net income to Adjusted EBITDA for the
2016 guidance range is shown below (in millions):
2016 Full Year
Guidance Range Net income $ 7 $ 12 Income tax
expense 5 9 Depreciation expense; amortization expense; interest
expense and other, net; noncontrolling
interest in
subsidiaries; share-based payment and
other expenses
118 129 Adjusted EBITDA $ 130 $ 150
ALLIANCE HEALTHCARE SERVICES, INC. SELECTED STATISTICAL
INFORMATION Quarter Ended March 31, 2016
2015 MRI Average number of total
systems 270.1 245.8 Average number of scan-based systems 218.6
202.9 Scans per system per day (scan-based systems) 9.07 8.48 Total
number of scan-based MRI scans 133,234 114,033 Price per scan
312.00 330.71 Scan-based MRI revenue (in millions) $ 41.6 $ 37.7
Non-scan based MRI revenue (in millions) 6.0
5.2 Total MRI revenue (in millions) $ 47.6 $ 42.9
PET/CT Average number of total systems 116.8 114.6 Scans per
system per day 5.50 5.25 Total number of PET/CT scans 34,597 33,443
Price per scan 881.32 916.15 Total PET and PET/CT revenue (in
millions) $ 31.7 $ 31.5
Oncology Linear accelerator
treatments 22,833 22,165 Stereotactic radiosurgery patients 893 779
Total oncology revenue (in millions) $ 26.1 $ 24.2
Revenue breakdown (in millions) Total MRI revenue $ 47.6 $
42.9 PET/CT revenue 31.7 31.5 Oncology revenue 26.1 24.2
Interventional revenue 11.7 3.9 Other revenue 6.6
6.9 Total revenues $ 123.7 $ 109.4
Total fixed-site revenue (in millions) 2016
2015 Quarter ended March 31 $ 27.2 $ 27.1
ALLIANCE HEALTHCARE SERVICES,
INC.SELECTED STATISTICAL INFORMATIONRADIOLOGY AND
ONCOLOGY DIVISION SAME-STORE VOLUME
The Company utilizes same-store volume growth as a historical
statistical measure of the MRI and PET/CT imaging procedure, linear
accelerator (“Linac”) treatment and stereotactic radiosurgery
(“SRS”) case growth at its customers in a specified period on a
year-over-year basis. Same-store volume growth is calculated by
comparing the cumulative scan, treatment or case volume at all
locations in the current year quarter to the same quarter in the
prior year. The group of customers whose volume is included in the
scan, treatment case volume totals includes only those that
received service from Alliance for the full quarter in each of the
comparison periods. A positive percentage represents growth over
the prior year quarter and a negative percentage represents a
decline over the prior year period. Alliance measures each of its
major radiology and oncology modalities, MRI, PET/CT, Linac and
SRS, separately.
The Radiology Division same-store volume growth for the last
four calendar quarters ended March 31, 2016, is as follows:
Same-Store Volume MRI
PET/CT
2016
First Quarter 6.6 % 9.3 %
2015
Fourth Quarter 3.6 % 8.6 % Third Quarter 4.7 % 5.7 % Second Quarter
6.8 % 7.6 %
The Oncology Division same-store volume growth/(decline) for the
last four calendar quarters ended March 31, 2016, is as
follows:
Same-Store Volume Linac
SRS
2016
First Quarter 5.6 % 9.0 %
2015
Fourth Quarter (6.4 %) 3.9 % Third Quarter (5.5 %) 10.8 % Second
Quarter (9.4 %) 3.5 %
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160505006722/en/
Alliance HealthCare Services, Inc.Rhonda Longmore-GrundExecutive
Vice PresidentChief Financial Officer949-242-5300
Global X Funds Global X ... (NASDAQ:AIQ)
Historical Stock Chart
From Mar 2024 to Apr 2024
Global X Funds Global X ... (NASDAQ:AIQ)
Historical Stock Chart
From Apr 2023 to Apr 2024