Alliance Imaging : ORANGE
Nature of business: Provides cross-sectional images of the body without using X-rays. Total employees: 315 In Orange County: 70 Stock listing in The Times: On NASDAQ “Allnimg” Ticker symbol: “SCAN” Friday’s stock close: $2.37 One-week change: Unchanged Analyst review: “Alliance Imaging is taking the appropriate steps to cope with reduced profits in this difficult economic climate. The company, along with others in the industry, is faced with a general slowdown and a decreased use of MRI technology. Their competitors are in the same boat, with some coping better than others. Alliance is doing the right thing by not acquiring additional centers and focusing on ways to become a lower-cost provider. It has restructured its debt and is still generating a positive cash flow. It is difficult to predict when a turnaround will occur, but Alliance is waiting it out wisely.”
--Frank G. Morgan, analyst
Sterne, Agee & Leach, Birmingham, Ala.
* Chart amount in millions
Fiscal year ending Dec. 31 Dec. 31 Dec. 31 1ST qtr. 1ST qtr. 1990 1991 1992 1992 1993 Revenue $46.4 $52.0 $63.6 $13.8 $15.0 Profit (loss) $1.0 $1.3 $.721 $.553 $(.451)
*Corporate outlook: “MRI is costly, but when used correctly it saves money through early detection and eliminating the need for expensive exploratory surgeries. We plan to continue to provide this service by improving out participation in the patient-scsreening process and working with insurers and managed-care networks to keep costs to a minimum.
-- Richard N. Zehner, Chairman/CEO RETURN ON INVESTMENT: 3-YEAR SUMMARY AND YEAR-TO-DATE
Fiscal year ending Dec. 31 Dec. 31 Dec. 31 1ST qtr. 1ST qtr. 1990 1991 1992 1992 1993 52-week high* N/A N/A $10.25 $10.25 $3.75 52-week low* N/A N/A $2.75 $5.75 $1.88 Book value per share $0.38 $5.30 $4.28 $4.62 $4.09 Price per share* N/A N/A $3.03 $9.00 $2.13 Net profit per share $0.19 $0.32 $0.15 $0.06 N/A Price-to-earnings ratio N/A N/A 20:1 37:1 N/A Avg. return on 0.66% 5.8% 2.4% 7.4% N/A investor equity
* Alliance Imaging sold 2.8 million shares in its initial public offering Nov. 8, 1991; net proceeds: $19 million. For information call or write, Alliance Imaging: 3111 N. Tustin Ave. Suite 150. Orange, Calif. 92665. (714) 921-5656
