Aug 12 2010
Ascendant Solutions, Inc. (Pink Sheets: ASDS) ("Ascendant" or the "Company") today announced its results for the second quarter of fiscal 2010. The Company reported consolidated net income of $260,000 for the fiscal quarter ended June 30, 2010, compared to net loss of $55,000 in 2009, resulting in net income per share ("EPS") of $0.01 compared to net loss per share of less than ($0.01). Consolidated net income for the six months ended June 30, 2010 was $655,000, compared to $148,000 for the six months ended 2009, resulting in net EPS of $0.03 compared to $0.01.
For the fiscal quarter ended June 30, 2010, the Company reported Consolidated Earnings before Interest, Taxes, Depreciation and Amortization ("EBITDA") of $476,000 compared to consolidated EBITDA of $59,000 in 2009. EBITDA for the six months ended June 30, 2010, was $1,061,000 compared to $369,000 for the same period of 2009.
EBITDA is calculated as net income before deducting interest, taxes, depreciation and amortization and also does not include discontinued operations. Although EBITDA is not a measure of actual cash flow because it does not consider changes in assets and liabilities that may impact cash balances, the Company's management reviews these non-GAAP financial measures internally to evaluate the Company's performance and manage the operations. Additionally, the Company believes it is a useful metric to evaluate operating performance and has therefore included such measures in the reporting of operating results.
Healthcare
The Company's subsidiary, Dougherty's Holdings, Inc. ("DHI"), which owns and operates Dougherty's Pharmacy, reported EBITDA of $344,000 for the fiscal quarter ended June 30, 2010, compared to $345,000 in 2009. EBITDA for the six month period ending June 30, 2010 was $653,000 compared to $760,000 for the same period of 2009.
Real Estate Advisory Services
EBITDA for the fiscal quarter ended June 30, 2010 from the Company's real estate advisory services segment was $733,000 compared to $118,000 for the same period of 2009. EBITDA for the six months ended June 30, 2010 was $1,181,000 compared to $293,000 for the same period of 2009.
Corporate and Other
EBITDA for the fiscal quarter ended June 30, 2010 and 2009 from the corporate and other segment was ($601,000) and ($404,000), respectively. EBITDA for the six months ended June 30, 2010 and 2009 from the corporate and other segment was ($773,000) and ($684,000), respectively.
Source:
Ascendant Solutions, Inc.