AMS Homecare Q3 Revenue $1,038,740, Nine-Month Profit $399,187
All Financial Metrics Report Substantial Year-Over-Year Increases
VANCOUVER, January 22, 2004 - AMS Homecare Inc.(AHC: tsx-v) (http://www.amshomecare.com ) a leading national provider of mobility products to the aging Canadian population, is pleased to report third quarter revenues of $1,038,740, an increase of 47% over the same quarter last year. In achieving these quarterly results AMS generated profits of $98,283, bringing the Company's year-to-date net income to $399,187. The complete third quarter report can be reviewed on SEDAR by using the following direct link to the company's SEDAR Profile :
sedar.com
Financial Highlights - Third Quarter
* Revenues -- $1,038,740 --- 47% Increase over last year
* Net Profit -- $98,283 --- (Loss of $53,369 last year)
* Gross Profit -- $400,666 --- 71% Increase over last year
* Selling Expenses -- 12.5% --- 19% Decrease over last year
Financial Highlights - First Nine Months
* Revenues -- $3,569,695 --- 54% Increase over last year
* Net Profit -- $399,187 --- (Loss of $28,793 last year)
* Gross Profit -- $1,342,729 --- 69% Increase over last year
* Gross Profit Margin -- 38% --- 8.8% Increase over last year
* Selling Expenses -- 11% --- 74% Decrease over last year
Operational Highlights - Quarter Ended November 30, 2003
* September 11, 2003 - AMS received a binding commitment for $US 1.5 million dollars from an International financing group. The funds were arranged is a bridging loan to the company which will allow the closing of the previously announced purchase of a 49,000 square foot warehouse facility with manufacturing equipment for a powder coating facility in Eastern United States
* September 17, 2003 - AMS announces the signing of a three-year agreement with Swabplus Canada for the world OEM license of Swabplus 's patented liquid filled cotton swab technology, and any improvements or enhancements of this technology.
AMS President and Chairperson, Rani Gill, states "The substantial growth and performance of AMS Homecare, as measured by these key financial metrics, continues to prove that AMS is moving in the right direction. We intend to continue capitalizing on our strong market position and achieve continued strong growth throughout North America."
AMS CEO and Director, Harj Gill, states "With a very strong foothold in the Canadian market, our top priority now is to complete our US expansion plans and begin achieving the same level of success in this much larger and more lucrative market."
About AMS Homecare Inc. amshomecare.com
Founded in 1989, AMS Homecare is a successful purveyor of mobility equipment and medical products that are recognized for their innovation, quality and style. With a base of 200 + dealer customers in Canada, the Company is moving forward to strengthen its foundation and to build an organization capable of serving the independence needs of the aging populations in Canada and the United States.
This release may contain forward-looking statements with risks and uncertainties that may cause the actual results to differ materially from those intended or anticipated by the Company. The TSX Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For more information, please contact:
AMS Homecare Inc.
Mr. Daryl Hixt, Corporate Communications
Telephone: 604-273-5173 ext 121
Facsimile: 604-273-9312
E-mail: ir@amshomecare.com
Agora Investor Relations Corp.
Web: agoracom.com
E-mail: AHC@agoracom.com |
