Allion Healthcare, Inc. Files Form 10-K for the Period Ended December 31, 2005

 

MELVILLE, NY, March 16, 2006 – Allion Healthcare, Inc. (“Allion” or “The Company”) (NASDAQ: ALLI), a national provider of specialty pharmacy and disease management services focused on HIV/AIDS patients, announced today that it has filed its Form 10-K for the period ended December 31, 2005.  As previously announced, the Company will restate its financial statements for the three and six-months ended June 30, 2005, and the three and nine-months ended September 30, 2005. The need for a restatement resulted from a non-cash interest expense of $966,000 that will be recorded in the second quarter of 2005. This is a one-time charge to the income statement and does not affect the Company’s operational results. Previously Allion had expensed $60,000 as interest expense related to these warrants. These charges are properly reflected in the year-end numbers included in the Company's Form 10-K.

 

In connection with the above mentioned restatement, the Board of Directors, with the assistance of management, counsel and independent accountants, is conducting an inquiry into the facts and circumstances that contributed to this error.

 

About Allion Healthcare, Inc.

Allion Healthcare, Inc. is a national provider of specialty pharmacy and disease management services focused on HIV/AIDS patients. Allion Healthcare sells HIV/AIDS medications, ancillary drugs and nutritional supplies under the trade name MOMS Pharmacy.  Allion offers nationwide pharmacy care from its pharmacies in California, New York, Washington, and Florida. Allion Healthcare works closely with physicians, nurses, clinics, AIDS Service Organizations, and with government and private payors, to improve clinical outcomes and reduce treatment costs for patients.

 

Safe Harbor Statement

Certain statements included in this press release, which are not historical facts, are forward-looking statements. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent our expectations or beliefs and involve certain risks and uncertainties, including those described in our public filings with the United States Securities and Exchange Commission; also including, but not limited to, competitive pressures, changes in customer mix, changes in third party reimbursement rates, changes in government regulations or the interpretation of these regulations, growth opportunities, cost savings, revenue enhancements, synergies and other benefits anticipated from acquisition transactions, difficulties relative to integrating acquired businesses, the accounting and tax treatment of acquisitions, and asserted and unasserted claims, which could cause actual results to differ from those in the forward-looking statements. The forward-looking statements by their nature involve substantial risks and uncertainties, certain of which are beyond our control, and actual results may differ materially depending on a variety of important factors. You are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date herein.