Allied Healthcare Products, Inc. (AHPI) is one of the leading companies which manufacture and markets respiratory products which are used in healthcare industry. Some of the key manufactures of the company include medical gas equipment, respiratory care products and emergency medical products. Several products come under the category of medical gas equipment such as disposable oxygen and specialty gas cylinders, portable suction products (flowmeters, vacuum regulators and pressure regulators) along with medical gas system construction and regulation devices. Company’s respiratory care product range is used in acute to chronic respiratory malfunctions such as asthama, emphysema, pneumonia, and bronchitis and includes nebulizers, humidifiers and air compressors. The emergency medical product line includes resuscitation devices, trauma and patient handling products (bag masks, minilators, mutilators, trauma burn kits) which are used treatment of trauma induced wounds.
The price of AHPI stock at regular trading session of December 15, 2021 was $5.48 with an impressive surge of 7.24 %. The stock was up by 11.11% in the after market session but, at last check in pre market it was up 2.2%.
Events and Happenings
On October 13, 2021, AHPI reported that w.e.f October 7, 2021, the Company and North Mill revised the Credit Contract to surge the availability under the loan based on inventory. The inventory advance rate remained at 25%. This increase in borrowing capacity allowed AHPI to incline its borrowing under the Credit contract to meet its needs of working capital.
On October 8, 2021, AHPI reported that the Annual Meeting of Stockholders of the company to be held on November 11, 2021. The agenda points of the meeting were the election of five directors, approval of company’s public accounting firm, an advisory vote to approve company’s executive compensation, and the transaction of other such business which may come before the meeting or any adjournment thereof.
Key Financials
On September 28, 2021, AHPI reported the financials for the company’s fiscal year ended June 30, 2021. Some of the key financial features are as follows
Gross Profit
During fiscal 2021 the gross profit reported was $7.1 million, as compared to gross profit of $5.6 million, for the same fiscal 2020.
Net Income per Share
Net income for fiscal 2021 was $1.7 million or $0.42 per basic and diluted earnings per share as opposed to a net loss of $3.0 million, or $0.75 per basic and diluted earnings per share during the same period of 2020.
Total Assets
The total assets reported for the company for fiscal 2021 were $17 million as compared to the same period of 2020 when the total assets were $19 million.
Conclusion
The current market conditions are quite favorable for AHPI. The company saw a notable increase in stock price (8.3%) from the last month mainly due to uncertain reasons. The investors are hoping that the company will reap the benefit of current positive market situation.
