SEC Filings

10-12G/A
AMSURG CORP filed this Form 10-12G/A on 05/09/1997
Entire Document
 
<PAGE>   47
 
   
                         SELECTED FINANCIAL DATA OF AHC
    
 
   
     The selected unaudited financial data of AHC set forth below reflects
certain adjustments to the previously reported historical consolidated financial
statements of AHC for each of the fiscal years in the five year period ended
August 31, 1996, and the six month periods ended February 29, 1996 and February
28, 1997 to present AmSurg as a discontinued operation.
    
 
   

<TABLE>
<CAPTION>
                                                                                          SIX MONTHS
                                                                                         ENDED AND AT
                                          FOR THE YEAR ENDED AND AT AUGUST 31,          FEBRUARY 29/28
                                     -----------------------------------------------   -----------------
                                      1992      1993      1994      1995      1996      1996      1997
                                     -------   -------   -------   -------   -------   -------   -------
                                                    (IN THOUSANDS EXCEPT PER SHARE DATA)
<S>                                  <C>       <C>       <C>       <C>       <C>       <C>       <C>       <C>
OPERATING DATA:
Revenues:
        Total revenues.............  $37,112   $39,682   $41,144   $36,583   $31,403   $15,714   $15,332
                                     -------   -------   -------   -------   -------   -------   -------
Expenses:
  Salaries and benefits............   16,488    16,972    18,699    18,878    19,866     9,738    10,755
  Other operating expenses.........   11,860    11,771    12,271    10,865     7,254     3,275     4,123
  Depreciation and amortization....    1,336     1,340     1,293     1,339     1,273       650       675
  Interest.........................       12         8         6         7         5         3         2
                                     -------   -------   -------   -------   -------   -------   -------
        Total expenses.............   29,696    30,091    32,269    31,089    28,398    13,666    15,555
                                     -------   -------   -------   -------   -------   -------   -------
Income (loss) before income taxes
  and discontinued operations......    7,416     9,591     8,875     5,494     3,005     2,048      (223)
Income tax expense(1)..............    3,040     3,884     3,586     2,252       544       889        --
                                     -------   -------   -------   -------   -------   -------   -------
Income (loss) from continuing
  operations.......................    4,376     5,707     5,289     3,242     2,461     1,159      (223)
  Discontinued operations..........       --      (170)       38       674       799       346       492
                                     -------   -------   -------   -------   -------   -------   -------
Net income.........................  $ 4,376   $ 5,537   $ 5,327   $ 3,916   $ 3,260   $ 1,505   $   269
                                     =======   =======   =======   =======   =======   =======   =======
Income (loss) per share from
  continuing operations(2).........  $  0.52   $  0.68   $  0.63   $  0.40   $  0.30   $  0.15   $ (0.03)
Income (loss) per share from
  discontinued operations(2).......       --     (0.02)     0.00      0.08      0.10      0.04      0.06
                                     -------   -------   -------   -------   -------   -------   -------
Net income per share(2)............  $  0.52   $  0.66   $  0.63   $  0.48   $  0.40   $  0.19   $  0.03
                                     =======   =======   =======   =======   =======   =======   =======
Weighted average common shares and
  equivalents......................    8,370     8,404     8,461     8,211     8,161     8,122     8,229
</TABLE>

    
 
   

<TABLE>
<CAPTION>
                                                                                                               AS
                                                                                                           ADJUSTED(3)
                                                                                                           -----------
<S>                                  <C>       <C>       <C>       <C>       <C>       <C>       <C>       <C>
BALANCE SHEET DATA:
Cash and cash equivalents..........  $10,323   $ 9,016   $ 9,909   $11,076   $12,562   $11,665   $10,110     $10,110
Working capital....................   11,961    12,772    11,972    11,089    13,324    12,709    11,652      11,102
Net assets of discontinued
  operations.......................       --     5,354    11,475    14,695    16,361    15,293    17,560          --
Total assets.......................   32,203    36,848    43,354    45,863    48,414    46,883    48,618      32,624
Long-term liabilities..............    1,665     1,892     2,138     2,146     2,608     2,576     2,025       2,025
Stockholders' equity...............   25,158    30,850    36,460    38,299    41,611    39,849    42,124      25,674
</TABLE>

    
 
- ---------------
 
(1) Includes nonrecurring income tax benefit in fourth quarter of fiscal 1996 of
    $760,000 or $.09 per share.
(2) Per share information does not give effect to the increase in weighted
    average number of shares outstanding that is expected to occur as a result
    of the adjustment of AHC stock options in connection with the Distribution.
    See "THE DISTRIBUTION -- Adjustments of AHC Stock Options; and -- Accounting
    Treatment."
   
(3) Adjusted to give effect to the Distribution and estimated expenses of
    $550,000 related thereto and estimated non-cash compensation expense of
    $4,300,000 ($2,640,000 net of income taxes) that is expected to be
    recognized as a result of the adjustment of AHC stock options in connection
    with the Distribution. See "THE DISTRIBUTION -- Adjustments of AHC Stock
    Options; and -- Accounting Treatment."
    
 
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