Continued spending curbs by hospitals and emergency agencies nationwide have resulted in depressed sales for Allied Healthcare Products, Inc. and a loss in its second quarter of fiscal 2014.
In a release on February 14, the Company noted that the net loss for the quarter ending December 31, 2013, was about $899,000 or a negative 11 cents per basic and diluted share. The loss in the prior year's second quarter was about $469,000, or a negative 6 cents per share.
Sales for the second quarter declined from about $9.9 million in the previous year to about $8.7 million, or almost 12 percent.
For the first two quarters of the fiscal year, Allied Healthcare Products experienced a loss of about $1.5 million, or a negative 19 cents per basic and diluted share. For the first half of the previous year, Allied recorded a loss of about $880,000, or a negative 11 cents per share.
Allied Healthcare Products manufactures a variety of respiratory products used in the healthcare industry in a range of hospital and alternate care settings including sub-acute facilities, home healthcare and emergency medical care. Allied product lines include respiratory care products, medical gas equipment and emergency medical products. Allied products are marketed to hospitals, hospital equipment dealers, hospital construction contractors, home healthcare dealers and emergency medical product dealers.
((Comments on this story may be sent to firstname.lastname@example.org))