Apollo Medical Holdings Announces Signing Of Agreements With Independent Practice Association And Professional Medical Corporation And Reports Results Of The First Quarter Of 2019

Monday, May 13, 2019 General News
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Effect of transactions is expected to more fully integrate the financial results of Allied Physicians of California with Apollo Medical Holdings

APOLLO MEDICAL HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(UNAUDITED)

Three Months Ended

March 31,

2019

2018

Revenue

Capitation, net

$

71,516,778

$

85,905,284

Risk pool settlements and incentives

10,093,841

17,986,736

Management fee income

8,996,600

12,074,572

Fee-for-service, net

4,080,674

6,236,628

Other income

1,069,278

1,720,026

Total revenue

95,757,171

123,923,246

Operating expenses

Cost of services

83,432,474

84,614,686

General and administrative expenses

10,263,960

11,301,237

Depreciation and amortization

4,417,581

5,058,512

Provision for doubtful accounts

951,014

247,102

Total expenses

99,065,029

101,221,537

(Loss) income from operations

(3,307,858)

22,701,709

Other income (expense)

    Loss from equity method investments

(849,657)

(28,024)

    Interest expense

(210,979)

(85,001)

    Interest income

323,008

269,818

    Other income

187,116

87,993

Total other (expense) income, net

(550,512)

244,786

(Loss) income before (benefit from) provision for income taxes

(3,858,370)

22,946,495

(Benefit from) provision for income taxes

(1,408,241)

7,228,840

 Net (loss) income

(2,450,129)

15,717,655

Net (loss) income attributable to noncontrolling interest

(2,589,793)

13,557,200

Net income attributable to Apollo Medical Holdings, Inc.

$

139,664

$

2,160,455

Earnings per share – basic

$

0.00

$

0.07

Earnings per share – diluted

$

0.00

$

0.06

Weighted average shares of common stock outstanding-basic

34,496,622

32,421,467

Weighted average shares of common stock outstanding – diluted

38,074,174

38,098,373



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