The 10-Q shows that StatusOne did $4.8M in revenue in the 3 months ending November 2002. I thought they did $5M in the 3 months ending July 03. Isn't this supposed to be a fast growing business?
Also if I take AMHC's sales including StatusOne in Nov 02 and compare it sales in the Nov 03 quarter, I only get 20% growth. This is a lot slower than the 36% growth reported.
Am I doing this right?
My only defense for my ignorance and poor reading comprehension is the 10-Q:
"The results of operations of StatusOne were consolidated with those of the Company beginning September 5, 2003. The unaudited pro forma results of operations as if the transaction had occurred on September 1, 2002 are as follows:
Three Months Ended November 30, 2002
Revenues $ 42,379
Net income $ 3,500
Earnings per share:(1)
Basic $ 0.11
Diluted $ 0.11
(1)Reflects the effect of the December 2003 two-for-one stock split.
'Whatever is said on the conference call is covered by safe harbor provisions.'
And I did read the filing and you have provided nothing from it. Have you ever considered Hooked on Phonics? It will help your reading comprehension quite a bit ~ my kids are a testimonial to that.
You need new batteries for your calculator:
'Also if I take AMHC's sales including StatusOne in Nov 02 and compare it sales in the Nov 03 quarter, I only get 20% growth.'
q103 = 51.1 mil
q102 = 37.5 mil
The 10-Q reports pro forma sales for 1Q02 that include StatusOne as if the acquisition had already occurred. That is where I get the 20% growth, because 1Q02 pro forma revenue was $42.4M. 1Q03's revenue of $51.1M is 20% growth.
Plus a kicker (mgmt is very conservative on this ~ made a point of relating in last cc):
'Approximately 11% of the Company's revenues recorded during the three months ended November 30, 2003 were performance-based and are subject to final reconciliation; the Company anticipates that this percentage will fluctuate due to the timing of data reconciliation and revenue recognition associated with performance-based fees. A limited number of contracts also provide opportunities for the Company to receive incentive bonuses in excess of the contractual PMPM rate if the Company is able to exceed contractual performance targets.'
You could be correct in your calculation but don't expect the past data to predict the future here. Now that AMHC and S1 have combined, we have a new animal here! We are all hoping for a banner year and it appears to be heading in the right direction.