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Anyone follow this little gem. Stumbled onto them quite by accident, i.e. entered wrong symbol. Check out their latest quarterly report. Looking like 60 cents per share next year is easily attainable. .45 this year so it's currently trading at under 7x. Look forward to any input!! Love this sector as growth with good management is a given. iwhm.com INTERWEST HOME MEDICAL ANNOUNCES RECORD FINANCIAL RESULTS FOR FISCAL 1999 AND 4TH QUARTER NET INCOME UP 31% FOR THE YEAR, 72% FOR THE Quarter INTERWEST HOME MEDICAL ANNOUNCES RECORD FINANCIAL RESULTS FOR FISCAL 1999 AND 4TH QUARTER NET INCOME UP 31% FOR THE YEAR, 72% FOR THE Quarter SALT LAKE CITY, Dec 1, 1999 /PRNewswire via COMTEX/ -- Interwest Home Medical, Inc. (Nasdaq: IWHM) today announced record earnings for the year and three-month periods ended September 30, 1999. Total revenues for the quarter ended September 30, 1999 were $9.9 million, an increase of approximately 28% over the $7.7 million recorded in the comparative quarter ended September 30, 1998. Revenues for the year ended September 30, 1999 were $33.3 million compared to $28.6 million for the year ended September 30, 1998, an increase of 16%. Net income for the quarter ended September 30, 1999 was $649,000 compared to $377,000 for the quarter ended September 30, 1998, an increase of approximately 72% over the previous year. Earnings per share for the quarters ended September 30, 1999 and 1998 were $0.15 and $.09 on 4.110 and 4.085 million average shares outstanding respectively. Accordingly, income from operations was up 23% for the quarter ended September 30, 1999 compared to income from operations for the quarter ended September 30, 1998. Net income for the year ended September 30, 1999 was $1,861,000 compared to $1,426,000 for the year ended September 30, 1998, an increase of approximately 31% over the previous year. Earnings per share for the years ended September 30, 1999 and 1998 were $0.45 and $.35 on 4.110 and 4.085 million average shares outstanding respectively. Accordingly, income from operations was up 17% for the year ended September 30, 1999 compared to net income from operations for the year ended September 30, 1998. James E. Robinson, President and Chief Executive Officer of Interwest Home Medical, Inc., commented, "The results of the year and past quarter clearly reflect the benefits of our renewed focus on our core respiratory/oxygen business. This is especially satisfying after the additional Medicare oxygen reimbursement reduction this year. Same-store sales are up and the integration of our recent acquisition in Denver is proceeding on target. We expect to continue the respiratory business focus and cost control measures and will continue to target strategic acquisition opportunities with quality revenue and net income streams with an eye toward enhancing shareholder value." Interwest Home Medical's services include rental and sales of home oxygen and respiratory equipment, home care equipment and related supplies, and rehabilitation equipment. The Company has focused its services to meet substantially all of the Home Medical Equipment ("HME") needs of its customers. Interwest Home Medical, Inc. has expanded to 28 branch locations in Utah, Arizona, Idaho, Nevada, Colorado, Alaska and California and employs over 410. At present, Interwest Home Medical has preferred provider agreements with over 50 different health insurance companies to provide home medical services to their covered beneficiaries. In addition, Interwest Home Medical maintains a sales force of over 40 persons who call on hospitals, physicians, therapists, discharge planners, case managers and other health care professionals to obtain referrals for home medical services. The Company was the first home medical equipment (HME) services company west of the Mississippi River and the third in the nation to be accredited (since 1988) by the Joint Commission on Accreditation of Healthcare Organizations (JCAHO). Interwest Home Medical Inc. (CUSIP# 46114P 20 9) maintains corporate offices located at 235 East 6100 South in Salt Lake City, Utah. The Company's common stock is traded on the Nasdaq Small-Cap Market under the symbol IWHM. Interwest Home Medical, Inc. Condensed Statement of Operations For the quarter ended September 30, 1999 (unaudited) For the years ended For the three months ended September 30 September 30 1999 1998 1999 1998 Revenues $33,262,000 $28,636,000 $9,858,000 $7,667,000 Gross profit 21,578,000 18,054,000 6,392,000 4,998,000 Selling, general, and administrative expense 18,296,000 15,253,000 5,296,000 4,284,000 Income from operations 3,282,000 2,801,000 878,000 714,000 Net income 1,861,000 1,426,000 649,000 377,000 Net income per share .45 .35 .15 .09 Weighted average shares outstanding 4,089,000 4,085,000 4,089,000 4,089,000 SOURCE Interwest Home Medical, Inc. (C) 1999 PR Newswire. All rights reserved. prnewswire.com -0- CONTACT: Bret Hardy, Controller, Jim Robinson, CEO & President, or Serena Falgoust, Investor Relations, all of Interwest Home Medical Inc., 800-468-1000 or 801-261-5100 (IWHM) | ||||||||||||
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