Patient Home Monitoring Corp.
TSX VENTURE : PHM

January 29, 2015 08:03 ET

Patient Home Monitoring (PHM) Releases Year End Audited Financial Statements for Period Ending September 30, 2014

LOS ANGELES, CALIFORNIA--(Marketwired - Jan. 29, 2015) - Patient Home Monitoring (PHM) (TSX VENTURE:PHM), a profitable, acquisition-oriented company focused on providing annuity-based healthcare products and services to patients in the home throughout the US, released audited financial statements for the period ending September 30, 2014.

Full financial statements have been posted on SEDAR.

Financial Highlights:

Annualized Q1 FY 2015 Audited FY 2014 Audited FY 2013
Revenue $ 40,200,000 $ 21,190,000 $ 3,975,000
Adjusted EBITDA(1) $ 9,400,000 $ 4,421,000 $ 838,000
Net Profit from Operations(2) $ 6,000,000 $ 3,005,000 $ 360,000

"While the 2014 audit is really a look in the rearview mirror, it does demonstrate our rapid growth and progress through the most recent quarter," said Michael Dalsin, Chairman of PHM. "Our first quarter annualized revenue is double the entire fiscal year of 2014. We continue to focus on cash flow and profits and we look forward to more revenue and profit growth in 2015."

"I appreciate the consistent hard work by the accounting team throughout the year, as reflected by this audit. Part of a successful US acquisition strategy as a Canadian listed company relies upon the accounting team to successfully integrate diverse operating and billing systems while adhering to required, and often complex, non-cash IFRS accounting treatment items," concluded Mr. Dalsin.

PHM will host an interactive Q&A earnings call at 4p.m. EST on Monday, February 2, 2015 to provide in depth data and analysis about Audited FY 2014 results.

Participants from PHM will be Michael Dalsin (Chairman), Roger Greene (Vice Chairman), David Hayes (Future CEO) and Andrew Folmer (CFO).

The details of the call are:

Monday, February 2, 2015 at 4p.m. EST

US & Canada Toll Free:

Dial In: (855) 886-8711

Meeting ID Number: 743 640 41

Financial professionals are invited to call in and ask questions. To pre-register as a qualified caller, please e-mail dwilson@myphm.com by 5 p.m. EST Friday, January 30th, 2015.

(1) Adjusted EBITDA is including patient acquisition cost, but not including stock-based compensation.

(2) Net Profit from Operations is defined as not including stock-based compensation, financial derivative expenses/income, and other non-cash IFRS accounting treatment items.

About PHM

PHM is an acquisition-oriented, fast-growing and profitable company servicing patients with heart disease and other chronic health conditions. PHM is focused on acquiring companies in a highly fragmented and developing market of small privately-held companies servicing chronically ill patients with multiple disease states caused mainly by age and obesity. Because of the new and highly fragmented nature of the market, PHM is actively identifying and evaluating profitable, annuity-based companies to acquire at favorable prices for their patient databases and technical expertise. PHM's post-acquisition organic growth strategy is to increase annual revenue per patient by offering multiple services to the same patient, consolidating the patient's services and making life easier for the patient. The expected result is growing EPS with each acquisition and growing revenue and profits from the cross selling efforts.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Implicit in this information, particularly in respect of the future outlook of PHM and anticipated events or results, are assumptions based on beliefs of PHM's senior management as well as information currently available to it. While these assumptions were considered reasonable by PHM at the time of preparation, they may prove to be incorrect. Readers are cautioned that actual results are subject to a number of risks and uncertainties, including the availability of funds and resources to pursue operations, decline of reimbursement rates, dependence on few payors, possible new drug discoveries, a novel business model, dependence on key suppliers, granting of permits and licenses in a highly regulated business, competition, difficulty integrating newly acquired businesses, low profit market segments as well as general economic, market and business conditions, and could differ materially from what is currently expected. This press release refers non-GAAP and non-IFRS financial measures that do not have standardized meaning prescribed by GAAP or IFRS. PHM's presentation of these financial measures may not be comparable to similarly titled measures used by other companies. These financial measures are intended to provide additional information to investors concerning PHM's performance.

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