{"id":458151,"date":"2021-03-15T17:48:19","date_gmt":"2021-03-15T21:48:19","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=458151"},"modified":"2021-03-15T17:48:19","modified_gmt":"2021-03-15T21:48:19","slug":"apollo-healthcare-corp-reports-fourth-quarter-of-2020-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/apollo-healthcare-corp-reports-fourth-quarter-of-2020-results\/","title":{"rendered":"Apollo Healthcare Corp. Reports Fourth Quarter of 2020 Results"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Apollo Healthcare Corp. Reports Fourth Quarter of 2020 Results<\/b><\/p>\n<p>TORONTO&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nApollo Healthcare Corp. (formerly Acasta Enterprises Inc.) (TSX: AHC, OTC QX: AHCCF) (\u201c<b>Apollo<\/b>\u201d or the \u201c<b>Company<\/b>\u201d) today announced financial results for the quarter and year ended December 31, 2020.\n<\/p>\n<p>\nThe Company\u2019s audited consolidated financial statements for the three months and year ended December 31, 2020, as well as its accompanying management discussion and analysis (MD&amp;A) have been filed on SEDAR. Copies of the filings may be obtained at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sedar.com&amp;esheet=52396403&amp;newsitemid=20210315005811&amp;lan=en-US&amp;anchor=www.sedar.com&amp;index=1&amp;md5=a9896c01705d9e795da3bc02546f3e45\">www.sedar.com<\/a>. All values in this news release and the Company\u2019s financial disclosures are in Canadian dollars unless otherwise stated.\n<\/p>\n<p><b>Financial Highlights<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nRevenues for the fourth quarter of 2020 were $87.2 million and $321.7 million year to date compared with $41.8 million and $167.1 million in the comparative 2019 periods. The higher revenue is the result of higher volumes sold of the Company\u2019s products.\n<\/li>\n<li>\nEBITDA for the fourth quarter of 2020 was $25.2 million and $94.8 million year to date compared with EBITDA of negative $1.7 million and $11.3 million in the comparative 2019 periods. The improved results reflect higher volumes sold of the Company\u2019s products.\n<\/li>\n<li>\nAdjusted EBITDA for the fourth quarter of 2020 was $26.2 million and $91.2 million year to date compared with adjusted EBITDA of negative $0.9 million and $9.6 million in the comparative 2019 periods. Adjusted EBITDA removes the effects of foreign exchange, changes in fair value of financial instruments and impairment charges.\n<\/li>\n<li>\nThe Company retired all debt during year ended December 31, 2020. The Company has access to a $50 million revolver from its commercial bank should it require additional liquidity.\n<\/li>\n<\/ul>\n<p>\nPlease refer to Apollo\u2019s MD&amp;A for additional detail and discussion on the Company\u2019s results from operations.\n<\/p>\n<p>\nAdvisories:\n<\/p>\n<p><i><b>Cautionary Note Concerning Forward Looking Statements<\/b><\/i><\/p>\n<p>\nThis news release includes forward looking statements. All such statements constitute forward looking information within the meaning of applicable securities law and are made pursuant to the \u201csafe harbour\u201d provisions of applicable securities laws. Forward looking statements include, but are not limited to statements about other anticipated future events or results, including comments with respect to Company\u2019s future financial performance and condition. Forward looking statements are statements that are predictive in nature, depend upon or refer to future events or conditions and are identified by words such as \u201cwill\u201d, \u201cexpects\u201d, \u201canticipates\u201d, \u201cintends\u201d, \u201cplans\u201d, \u201cbelieves\u201d, \u201cestimates\u201d or similar expressions concerning matters that are not historical facts. Such statements are based on current expectations of the Company\u2019s management and inherently involve numerous risks and uncertainties, known and unknown, including economic factors. The forward-looking information contained in this news release is presented for the purpose of assisting readers in understanding the Company\u2019s business and strategic priorities and objectives. A number of risks, uncertainties and other factors may cause actual outcomes or financial results to differ materially from the forward looking statements contained in this news release, including, among other factors, those referenced in the section entitled \u201cRisk Factors\u201d in the Company\u2019s annual information form for the year ended December 31, 2020, a copy of which is available on the SEDAR website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sedar.com&amp;esheet=52396403&amp;newsitemid=20210315005811&amp;lan=en-US&amp;anchor=www.sedar.com&amp;index=2&amp;md5=161e68110aa4969145073d9661e5e5dc\">www.sedar.com<\/a> under the Company\u2019s profile. Forward looking statements contained in this news release are not guarantees of future outcomes performance and, while forward looking statements are based on certain assumptions that the Company considers reasonable, actual events could differ materially from those expressed or implied by forward looking statements made by the Company. Readers are cautioned to consider these and other factors carefully when making decisions with respect to the Company and to not place undue reliance on forward looking statements. Circumstances affecting the Company may change rapidly. Except as may be expressly required by applicable law, the Company does not undertake any obligation to update publicly or revise any such forward looking statements, whether as a result of new information, future events or otherwise. These cautionary statements expressly qualify all forward looking statements in this new release. In addition, past results are in part, reflective of the unique environment that existed during the past fiscal year and is no guarantee of future financial performance.\n<\/p>\n<p><b><i>Non-IFRS Financial Performance Measures (Unaudited) <\/i><\/b><\/p>\n<p>\nAdjusted net income (loss), EBITDA and adjusted EBITDA are not recognized measures under IFRS and this data may not be comparable to data presented by other companies.\n<\/p>\n<p>\nAdjusted net income (loss) is calculated by adjusting net income (loss) as recorded in the unaudited condensed consolidated interim statements of income (loss) and comprehensive income (loss) for the exclusion of certain other income and expense items determined in accordance with IFRS. The Company believes that this generally accepted measure allows the evaluation of the results of continuing operations and is useful in making comparisons between periods. Adjusted net income (loss) is intended to provide investors with information about the Company\u2019s continuing income generating capabilities. Management uses this measure to monitor and plan for the operating performance of the Company in conjunction with other data prepared in accordance with IFRS.\n<\/p>\n<p>\nEBITDA is calculated by adjusting net income (loss) as recorded in the unaudited condensed consolidated interim statements of income (loss) and comprehensive income (loss) for finance costs, current and deferred income tax, depreciation and amortization expenses. The Company believes that this measure allows the evaluation of the results of continuing operations and is useful in making comparisons between periods. EBITDA is intended to provide investors with information about the Company\u2019s continuing income generating capabilities. Management uses this measure to monitor and plan for the operating performance of the Company in conjunction with other data prepared in accordance with IFRS.\n<\/p>\n<p>\nAdjusted EBITDA is calculated by adjusting net income (loss) as recorded in the unaudited condensed consolidated interim statements of income (loss) and comprehensive income (loss) for the exclusion of certain other income and expense items determined in accordance with IFRS, being the calculation for adjusted net income (loss) and then further adjusting for finance costs, current and deferred income tax, depreciation and amortization expenses. The Company believes that this generally accepted measure allows the evaluation of the results of continuing operations and is useful in making comparisons between periods. Adjusted EBITDA is intended to provide investors with information about the Company\u2019s continuing income generating capabilities. Management uses this measure to monitor and plan for the operating performance of the Company in conjunction with other data prepared in accordance with IFRS.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210315005811r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210315005811\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210315005811\/en\/<\/a><\/span><\/p>\n<p>\nPaul Bozoki, Chief Financial Officer<br \/>\n<br \/>Email: <a rel=\"nofollow\" href=\"mailto:info@ahcinvestor.com\">info@ahcinvestor.com<br \/>\n<\/a><br \/>Phone: 647-370-5907<br \/>\n<br \/><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.apolloheathcarecorp.com%2F&amp;esheet=52396403&amp;newsitemid=20210315005811&amp;lan=en-US&amp;anchor=www.apolloheathcarecorp.com&amp;index=3&amp;md5=01d06f6d14da041060018de126b5b496\">www.apolloheathcarecorp.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> North America Canada<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Health Oncology<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Apollo Healthcare Corp. Reports Fourth Quarter of 2020 Results TORONTO&#8211;(BUSINESS WIRE)&#8211; Apollo Healthcare Corp. (formerly Acasta Enterprises Inc.) (TSX: AHC, OTC QX: AHCCF) (\u201cApollo\u201d or the \u201cCompany\u201d) today announced financial results for the quarter and year ended December 31, 2020. The Company\u2019s audited consolidated financial statements for the three months and year ended December 31, 2020, as well as its accompanying management discussion and analysis (MD&amp;A) have been filed on SEDAR. Copies of the filings may be obtained at www.sedar.com. All values in this news release and the Company\u2019s financial disclosures are in Canadian dollars unless otherwise stated. Financial Highlights Revenues for the fourth quarter of 2020 were $87.2 million and $321.7 million year to date compared with $41.8 million &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/apollo-healthcare-corp-reports-fourth-quarter-of-2020-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Apollo Healthcare Corp. Reports Fourth Quarter of 2020 Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-458151","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Apollo Healthcare Corp. Reports Fourth Quarter of 2020 Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/apollo-healthcare-corp-reports-fourth-quarter-of-2020-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Apollo Healthcare Corp. Reports Fourth Quarter of 2020 Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Apollo Healthcare Corp. Reports Fourth Quarter of 2020 Results TORONTO&#8211;(BUSINESS WIRE)&#8211; Apollo Healthcare Corp. (formerly Acasta Enterprises Inc.) (TSX: AHC, OTC QX: AHCCF) (\u201cApollo\u201d or the \u201cCompany\u201d) today announced financial results for the quarter and year ended December 31, 2020. The Company\u2019s audited consolidated financial statements for the three months and year ended December 31, 2020, as well as its accompanying management discussion and analysis (MD&amp;A) have been filed on SEDAR. Copies of the filings may be obtained at www.sedar.com. All values in this news release and the Company\u2019s financial disclosures are in Canadian dollars unless otherwise stated. Financial Highlights Revenues for the fourth quarter of 2020 were $87.2 million and $321.7 million year to date compared with $41.8 million &hellip; Continue reading &quot;Apollo Healthcare Corp. 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Reports Fourth Quarter of 2020 Results - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/apollo-healthcare-corp-reports-fourth-quarter-of-2020-results\/","og_locale":"en_US","og_type":"article","og_title":"Apollo Healthcare Corp. Reports Fourth Quarter of 2020 Results - Market Newsdesk","og_description":"Apollo Healthcare Corp. Reports Fourth Quarter of 2020 Results TORONTO&#8211;(BUSINESS WIRE)&#8211; Apollo Healthcare Corp. (formerly Acasta Enterprises Inc.) (TSX: AHC, OTC QX: AHCCF) (\u201cApollo\u201d or the \u201cCompany\u201d) today announced financial results for the quarter and year ended December 31, 2020. The Company\u2019s audited consolidated financial statements for the three months and year ended December 31, 2020, as well as its accompanying management discussion and analysis (MD&amp;A) have been filed on SEDAR. Copies of the filings may be obtained at www.sedar.com. All values in this news release and the Company\u2019s financial disclosures are in Canadian dollars unless otherwise stated. Financial Highlights Revenues for the fourth quarter of 2020 were $87.2 million and $321.7 million year to date compared with $41.8 million &hellip; Continue reading \"Apollo Healthcare Corp. 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