SEC Filings

10-12G/A
AMSURG CORP filed this Form 10-12G/A on 11/03/1997
Entire Document
 
<PAGE>   50
 
                         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, 1997 to present AmSurg as a discontinued operation.
    
 
   

<TABLE>
<CAPTION>
                                              FOR THE YEAR ENDED AND AT AUGUST 31,
                                         -----------------------------------------------
                                          1993      1994      1995      1996      1997
                                         -------   -------   -------   -------   -------
                                              (IN THOUSANDS EXCEPT PER SHARE DATA)
<S>                                      <C>       <C>       <C>       <C>       <C>       <C>
OPERATING DATA:
Revenues...............................  $39,682   $41,144   $36,583   $31,403   $30,537
                                         -------   -------   -------   -------   -------
Expenses:
  Salaries and benefits................   16,972    18,699    18,878    19,866    21,437
  Other operating expenses.............   11,771    12,271    10,865     7,254     8,702
  Depreciation and amortization........    1,340     1,293     1,339     1,273     1,342
  Interest.............................        8         6         7         5         6
                                         -------   -------   -------   -------   -------
          Total expenses...............   30,091    32,269    31,089    28,398    31,487
                                         -------   -------   -------   -------   -------
Income (loss) before income taxes and
  discontinued operations..............    9,591     8,875     5,494     3,005      (950)
Income tax expense (benefit)(1)........    3,884     3,586     2,252       544      (207)
                                         -------   -------   -------   -------   -------
Income (loss) from continuing
  operations...........................    5,707     5,289     3,242     2,461      (743)
  Discontinued operations(3)...........     (170)       38       674       799      (940)
                                         -------   -------   -------   -------   -------
Net income (loss)......................  $ 5,537   $ 5,327   $ 3,916   $ 3,260   $(1,683)
                                         =======   =======   =======   =======   =======
Income (loss) per share from continuing
  operations(2)........................  $  0.68   $  0.63   $  0.40   $  0.30   $ (0.09)
Income (loss) per share from
  discontinued operations(2)...........    (0.02)     0.00      0.08      0.10     (0.12)
                                         -------   -------   -------   -------   -------
Net income (loss) per share(2).........  $  0.66   $  0.63   $  0.48   $  0.40   $ (0.21)
                                         =======   =======   =======   =======   =======
Weighted average common shares and
  equivalents..........................    8,404     8,461     8,211     8,161     8,022
</TABLE>

    
 
   

<TABLE>
<CAPTION>
                                                                                               AS
                                                                                           ADJUSTED(4)
                                                                                           -----------
<S>                                      <C>       <C>       <C>       <C>       <C>       <C>
BALANCE SHEET DATA:
Cash and cash equivalents..............  $ 9,016   $ 9,909   $11,076   $12,562   $12,227     $12,227
Working capital........................   12,772    11,972    11,089    13,324    11,564      11,179
Net assets of discontinued
  operations...........................    5,354    11,475    14,695    16,361    16,407          --
Total assets...........................   36,848    43,354    45,873    48,943    49,373      34,416
Long-term liabilities..................    1,892     2,138     2,156     2,657     2,186       2,186
Stockholders' equity...................   30,850    36,460    38,299    41,611    40,441      25,099
</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) Includes an impairment loss of $1,364,000, or ($0.17) per share, the gain on
    a sale of AmSurg's interest in a surgery center building and equipment of
    $210,000, or $0.03 per share, and distribution cost of $882,000, or ($0.11)
    per share.
    
   
(4) Adjusted to give effect to the Distribution, including estimated additional
    distribution cost of $385,000 and estimated non-cash compensation expense of
    $3,750,000 ($2,300,000 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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