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Nobilis Health Corp. N.HLTH

Alternate Symbol(s):  NRTSF

Nobilis Health Corp is a full-service healthcare development and management company. It owns and operates healthcare centers and facilities and provides minimally invasive procedures to patients and also utilizes direct to patient marketing and proprietary technologies to drive patient engagement and education. The firm also provides its services to its medical facilities as well as to third parties as a stand-alone service. The company has Medical and Marketing reportable business segments and


NEO:HLTH - Post by User

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Post by ErickSodhion Dec 17, 1999 4:58pm
262 Views
Post# 1159429

Not So Good News Release

Not So Good News ReleaseNHC announces first quarter results for fiscal 2000 MONTREAL, Dec. 17 /CNW/ - NHC Communications Inc. (TSE:NHC) today announced results for the first quarter of fiscal year 2000. Revenues totaled $1,549,400 for the first quarter ended October 29, 1999, compared to $2,789,400 for the similar period last year, a decrease of 44%. The decrease was mainly attributable to decreased IT spending from companies in anticipation of year 2000 transition, as well as an overall industry decline in connectivity equipment sales. ``The decline in connectivity sales and the impact of year 2000 transition is in line with the overall industry average,'' said Sylvain Abitbol, President and Chief Executive Officer of NHC Communications. ``Moreover, in line with our focus on the VCCS(TM) (Virtual Cross-Connect System) Business Unit, our sales force has been redeployed to support the growth of VCCS(TM) sales. In addition, we are currently implementing a restructuring program.'' Gross profit was $599,100, compared to $1,294,600 in the first quarter of fiscal 1999. Operating loss from continuing operations was $1,090,800 in the first quarter compared to $172,400 in the similar period last year. Loss for the quarter totaled $1,136,100 ($0.09 per share on a primary basis) compared to a loss of $20,600 ($0.00 per share on a primary basis) in the first quarter of fiscal 1999. NHC also announced that it will be mailing its 1999 annual consolidated financial statements to its shareholders on December 17, 1999. The financial statements include a going concern note to the effect that NHC may not have sufficient funds to continue its business operations and meet its liabilities as they fall due. In order to continue as a going concern, NHC may require additional financing or sources of funding through equity financing or additional borrowings, including a rescheduling of existing liabilities. Should this not come to pass, NHC may not be able to continue as a going concern. A special committee of the board of directors of NHC consisting entirely of non-management directors has been struck to explore the options available to NHC, which might include a sale of assets or obtaining equity financing. Although active negotiations are well underway, there can be no assurance that any such transaction will be completed by NHC. NHC Communications Inc. (TSE: NHC) specializes in developing products that increase the competitive edge of its customers by applying innovative technology to the delivery of high-speed mixed media networks. NHC is committed to its customers by delivering superior solutions for physical layer network infrastructures. NHC sells through leading resellers supported by sales locations in Atlanta, Boston, Chicago, New York, Philadelphia, Paris (France) and Montreal (Canada). NHC may be contacted through its web site: www.nhc.com NHC COMMUNICATIONS INC. SUMMARY OF UNAUDITED CONSOLIDATED STATEMENTS OF INCOME For the Three-Month Period Ended October 29th, 1999 (in thousands of Canadian dollars, except per share amounts) Q1 2000 Q1 1999 _________________________________________________________________________ Sales $ 1,549,400 $ 2,789,400 Gross profit $ 599,100 $ 1,294,600 Operating loss from continuing operations $ (1,090,800) $ (172,400) Loss from continuing operations $ (1,139,000) $ (226,000) Loss $ (1,136,100) $ (20,600) Loss from continuing operations per share - primary $ (0.09) $ (0.02) Loss per share - primary $ (0.09) $ 0.00 Loss per share - fully diluted Anti-dilutive $ 0.00 Shares used in the calculation of the per share amounts: Primary 12,629,221 12,615,659 Fully diluted Not applicable 15,441,300 -0- 12/17/1999 For further information: Sylvain Abitbol, President and CEO, NHC Communications Inc., 1-800-361-1965, Fax: (514) 735-8057, Internet: pr@nhc.com, Web Site: www.nhc.com; Sylvain Brossard, CA, Vice President, Finance and Operations, NHC Communications Inc., 1-800-361-1965, Fax: (514) 735-8057, Internet: s.brossard@nhc.com To request a free copy of this organization's annual report, please go to www.newswire.ca and click on reports@cnw.
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