American Medical Alert Corp. AMAC today announced operating results for the quarter and nine months ended September 30, 2010, the highlights of which are as follows:
Revenues for the quarter ended September 30, 2010, consisting primarily of monthly recurring revenues (MRR), decreased 1% to $10,009,388 as compared to $10,138,155 for the same period in 2009. Net income for the quarter ended September 30, 2010 decreased 14% to $638,731 or $.06 per diluted share as compared to $744,145 or $.08 per diluted share for the same period in 2009.
This variance is directly associated with the investment in advertising with respect to the Company's MedSmart system during the third quarter of 2010. Net income for the quarter ended September 30, 2010 excludes $231,025 of the Company's share of equity in net loss from investment in limited liability company net of income taxes, incurred with respect to the Company's joint venture with Qualcomm and Hughes Telematics, Inc.
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