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Allied Healthcare International Inc. (AHCI) Reports Increase in Q2 Results Reflecting Homecare Business

Allied Healthcare International Inc. (Nasdaq: AHCI) announced its second-quarter results for the period ended March 31, 2008. This leading provider of flexible healthcare staffing services in the UK reported a 9.8 percent increase in revenues and a 6.3 percent increase in operating income from continuing operations.

“Before the favorable impact of exchange rates,” the company posted revenues at $72.9 million, up $5.6 million, or 8.4 percent, from $67.2 million the year prior. Allied Healthcare attributes the increase to an 11.4 percent increase in the staff of Allied’s Homecare staffing. Gross profit for the second quarter rose to $21.6 million, up 8.7 percent from the $20 million reported for the same period of 2007.

“It is encouraging to see the revenues growth Allied has made in the Homecare business during the second quarter,” Sandy Young, CEO of Allied Healthcare stated in the press release. “We remain focused on our initiatives to improve recruitment and retention of careworkers to support our growth in the months and years to come. We are fortunate that our market has not been particularly affected by the economic problems affecting the wider economy.

“We would like to see more of our increased gross margin reflected in our operating income. We will continue to work on efficiencies in our processes and will be aiming to limit or reduce our overhead expenditure in future periods,” stated Young.

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