Ascendant Solutions, Inc. Reports 2009 Earnings,
Earnings per Share and EBITDA
March 31, 2010 05:17 PM Eastern Daylight Time
DALLAS--(EON: Enhanced Online News)--Ascendant Solutions, Inc. (“Ascendant” or the “Company”) (Pink
Sheets: ASDS) today announced its December 31, 2009 fiscal year-end earnings. The Company reported a
consolidated net loss of $19,000 for the fiscal year ended December 31, 2009, compared to net income of
$5,844,000 in 2008, resulting in net loss per share (“EPS”) of less than $0.01 compared to net income per share of
$0.25. Results for 2008 include net income of $1,664,000 from the discontinued operations of the Medicine Man
Pharmacies (“Med Man”), which the Company sold to Pharmacy Operations, Inc. on April 11, 2008 and an income
tax benefit of $4,500,000 recognized due to the release of a portion of the deferred tax asset allowance.
For the fiscal year ended December 31, 2009, the Company reported Consolidated Earnings before Interest, Taxes,
Depreciation and Amortization (“EBITDA”) of $506,000 compared to consolidated EBITDA of $131,000 in 2008.
As noted below, EBITDA for all periods presented do not include the discontinued Med Man operations.
EBITDA is calculated as net income before deducting interest, taxes, depreciation and amortization and also does
not include discontinued operations. Although EBITDA is not a measure of actual cash flow because it does not
consider changes in assets and liabilities that may impact cash balances, the Company’s management reviews these
non-GAAP financial measures internally to evaluate the Company’s performance and manage the operations.
Additionally, the Company believes it is a useful metric to evaluate operating performance and has therefore included
such measures in the reporting of operating results.
The Company’s subsidiary, Dougherty’s Holdings, Inc. (“DHI”), which owns and operates Dougherty’s Pharmacy,
reported EBITDA of $1,232,000 for the fiscal year ended December 31, 2009, compared to $956,000 in 2