Agility Health Reports Third Quarter 2014 Financial Results

GRAND RAPIDS, MICHIGAN--(Marketwired - Nov. 28, 2014) - Agility Health, Inc. ("Agility Health or "the Company") (TSX VENTURE:AHI), today reports its financial results for the three-month and nine-month periods ended September 30, 2014. All amounts are expressed in U.S. dollars unless indicated otherwise.

During the first three quarters of 2014, the Company focused its efforts on improving its operational performance, strengthening its management team, realigning its administrative cost, continuing internal software development as well as discontinuing certain operations.

Financial and Operating Highlights for the Third Quarter ended September 30, 2014 and Year-to-Date

(All comparative figures are for the corresponding period of the prior year)

• Revenue from continuing operations for the third quarter grew 14% to $15.5 million compared to $13.5 million for the same period last year;
• Adjusted EBITDA from continuing operations for the third quarter grew to $0.5 million compared to $0.2 million for the same period last year;
• Gross margin from operations for the third quarter grew to 22% compared to 19% for the same period last year;
• Revenue from continuing operations for the year-to-date grew 2% to $47 million compared to $45 million for the same period last year;
• Adjusted EBITDA from continuing operations for the year-to-date were $2 million compared to $2.5 million for the same period last year, this reduction being partly due to significant operational challenges during the first quarter of 2014, including unusually severe weather-related impacts;
• Gross margin from operations for the year-to-date grew to 22% compared to 18% for the same period last year.

"We are encouraged by the positive trends in both revenue growth and gross margin expansion experienced by Agility during the third quarter," stated Steve Davidson, Agility Health's Chairman and CEO. "With our continued focus on operational improvements, we believe the foundation has been laid during the quarter to maintain those positive trends in the future. Our team has been making tough decisions to focus on operations that will support those trends and has reviewed all opportunities for growth both organically or through acquisition to ensure they meet this higher standard of performance."