SEC Filings

10-12G
AMSURG CORP filed this Form 10-12G on 03/11/1997
Entire Document
 
<PAGE>   38
 
           SELECTED HISTORICAL AND PRO FORMA FINANCIAL DATA OF AMSURG
 
     The following table presents summary historical and pro forma financial
data of AmSurg. The information set forth below should be read in conjunction
with "Management's Discussion and Analysis of Financial Condition and Results of
Operations of AmSurg" and the historical and pro forma consolidated financial
statements and notes thereto included elsewhere in this Information Statement.
The historical consolidated statement of operations data set forth below for
each of the years ended December 31, 1994, 1995 and 1996 and the historical
consolidated balance sheet data at December 31, 1996 are derived from, and are
qualified by reference to, the audited consolidated financial statements, and
should be read in conjunction with those financial statements and notes thereto.
The historical consolidated statement of operations data set forth below for the
period from inception through December 31, 1992 and the year ended December 31,
1993 is derived from audited consolidated financial statements not included
herein. See "Index to Financial Statements." The pro forma combined statement of
operations data for the year ended December 31, 1996 set forth below reflects
the effects of the acquisition of The Endoscopy Center of Ocala, Inc. and six
other businesses acquired during the year ended December 31, 1996 assuming the
acquisitions had occurred on January 1, 1996. None of the other six businesses
(five surgery centers and one physician practice) acquired individually exceeded
the significant subsidiary tests requiring separate financial reporting under
applicable SEC regulations.
 
     The historical and pro forma financial information may not be indicative of
AmSurg's future performance and does not necessarily reflect the financial
position and results of operations of AmSurg had AmSurg operated as a separate,
stand-alone entity during the periods covered.
 

<TABLE>
<CAPTION>
                                                                               HISTORICAL                      PRO FORMA
                                                             ----------------------------------------------   ------------
                                                                     YEAR ENDED AND AT DECEMBER 31,            YEAR ENDED
                                                             ----------------------------------------------   DECEMBER 31,
                                                             1992(1)    1993     1994      1995      1996         1996
                                                             -------   ------   -------   -------   -------   ------------
                                                                         (IN THOUSANDS EXCEPT PER SHARE DATA)
<S>                                                          <C>       <C>      <C>       <C>       <C>       <C>
OPERATING DATA:
Revenues...................................................  $  576    $6,586   $13,826   $22,489   $35,007     $40,620
                                                             ------    ------   -------   -------   -------     -------
Expenses:
  Salaries and benefits....................................     456     2,307     4,092     6,243    11,613      13,308
  Other operating expenses.................................     288     3,002     5,091     7,563    11,547      13,230
  Depreciation and amortization............................      51       665     1,309     2,397     3,000       3,465
  Interest.................................................       3        30       193       722       948       1,298
                                                             ------    ------   -------   -------   -------     -------
        Total expenses.....................................     798     6,004    10,685    16,925    27,108      31,301
                                                             ------    ------   -------   -------   -------     -------
Income (loss) before income taxes and minority interest....    (222)      582     3,141     5,564     7,899       9,319
  Minority interest in earnings of consolidated
    partnerships...........................................      87     1,121     2,464     3,938     5,433       6,543
                                                             ------    ------   -------   -------   -------     -------
Income (loss) before income taxes..........................    (309)     (539)      677     1,626     2,466       2,776
  Income tax expense.......................................      --        --        26       578       985       1,109
                                                             ------    ------   -------   -------   -------     -------
Net income (loss)..........................................    (309)     (539)      651     1,048     1,481       1,667
  Accretion of preferred stock discount....................      --        --        --        --        22          22
                                                             ------    ------   -------   -------   -------     -------
Net income (loss) attributable to common stockholders......  $ (309)   $ (539)  $   651   $ 1,048   $ 1,459     $ 1,645
                                                             ======    ======   =======   =======   =======     =======
Net income (loss) per share attributable to common
  stockholders(2)..........................................  $(0.24)   $(0.11)  $  0.09   $  0.12   $  0.16     $  0.18
                                                             ======    ======   =======   =======   =======     =======
Weighted average common shares and equivalents(2)..........   1,302     4,734     7,313     8,581     9,102       9,301
BALANCE SHEET DATA:
Cash and cash equivalents..................................                                         $ 3,192
Working capital............................................                                           4,732
Total assets...............................................                                          54,653
Long-term debt.............................................                                           9,218
Minority interest..........................................                                           5,674
Preferred stock............................................                                           4,982
Stockholders' equity.......................................                                          28,374
GENERAL CENTER DATA:
Procedures.................................................   1,146    16,051    30,922    55,344    71,323
Centers at period end......................................       4         6        14        18        27
SAME CENTER DATA(3):
Procedure growth...........................................                                              10%
Net revenue growth.........................................                                              14%
</TABLE>

 
- ---------------
 
(1) Period from inception through December 31, 1992.
(2) Adjusted to give effect to the Recapitalization which includes a one for
     three reverse stock split.
(3) Fifteen centers in same center category.
 
                                       31