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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): January 29, 2007
ORION HEALTHCORP, INC.
(Exact Name of Registrant as Specified in its Charter)
Delaware 001-16587 58-1597246
(State or Other (Commission File Number) (I.R.S. Employer
Jurisdiction of Identification Number)
Incorporation)
1805 Old Alabama Road, Suite 350
Roswell, GA 30076
(Address of Principal Executive Offices) (Zip Code)
(678) 832-1800
(Registrant's Telephone Number, Including Area Code)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
|_| Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
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Section 7 Regulation FD
Item 7.01 Regulation FD Disclosure
On January 29, 2007, the Company announced that Terrence L. Bauer, chief
executive officer of Orion HealthCorp, will present at the RedChip
Small-Cap Investor Conference to be held February 12, 2007 at the Tempe
Mission Palms Hotel in Phoenix, Arizona. The press release is attached as
Exhibit 99.1 to this current report.
In addition to the presentation, which will be available under the link
"Executive Presentations" in the Investor Relations section of the
Company's website (www.orionhealthcorp.com) on or before February 12, 2007,
the Company also provided the following information to be included in
program materials:
Fiscal Year December 31
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Sector Healthcare
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52 Week Range $0.12 - $1.20 As of 1/26/07
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Price/Earnings N/A
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(1) Price/Book Value 0.92 At 9/30/06
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(2) Price/Sales 0.21 TTM 9/30/06
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(3) Book Value per Share $0.26 At 9/30/06
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(4) Operating Margin -5.55% TTM 9/30/06
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Average 3 Mos. Volume 26,168 As of 1/26/07
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Shares Outstanding 24,674,818 At 9/30/06
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Float 11,132,108 At 9/30/06
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(5) ROE -70.61% TTM 9/30/06
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(6) ROA -22.06% TTM 9/30/06
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CEO Terrence L. Bauer
A reconciliation of the financial ratios included in this table to the
Company's unaudited consolidated condensed financial statements follows,
and is also available under the link "Supplemental Information" in the
Investor Relations section of the Company's website:
(1) The Company's price/book value at September 30, 2006 is calculated as
follows:
Closing stock price at September 30, 2006 $0.24
divided by Total equity per share at September 30, 2006:
Total equity at September 30, 2006 $6,408,938
divided by Total number of shares of common stock
outstanding at September 30, 2006 24,674,818 $0.26
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Price/book value at September 30, 2006 0.92
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(2) The Company's price/sales for the trailing twelve months ended September
30, 2006 ("TTM 9/30/06") is calculated as follows:
Closing stock price at September 30, 2006 $0.24
divided by Revenue per share for TTM 9/30/06:
Total net operating revenues for
TTM 9/30/06(a) $28,588,151
divided by Total number of shares of common stock
outstanding at September 30, 2006 24,674,818 $1.16
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Price/sales for TTM 9/30/06 0.21
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(3) The Company's book value per share at September 30, 2006 is calculated as
follows:
Total equity at September 30, 2006 $6,408,938
divided by Total number of shares of common stock
outstanding at September 30, 2006 24,674,818
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Book value per share at September 30, 2006 $ 0.26
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(4) The Company's operating margin for TTM 9/30/06 is calculated as follows:
Loss from continuing operations before other income
(expenses) for TTM 9/30/06(a) $ (1,587,178)
divided by Total net operating revenues for TTM 9/30/06(a) $ 28,588,151
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Operating margin for TTM 9/30/06 -5.55%
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(5) The Company's return on equity ("ROE") for TTM 9/30/06 is calculated as
follows:
Net loss for TTM 9/30/06(a) $ (4,525,474)
divided by Total equity at September 30, 2006 $ 6,408,938
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ROE for TTM 9/30/06 -70.61%
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(6) The Company's return on assets ("ROA") for TTM 9/30/06 is calculated as
follows:
Net loss for TTM 9/30/06(a) $ (4,525,474)
divided by Total average assets for TTM 9/30/06(b) $ 20,513,626
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ROA for TTM 9/30/06 -22.06%
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(a) Following is a summary income statement used for the calculation
of TTM 9/30/06 results:
4Q05 1Q06 2Q06 3Q06 TTM 9/30/06
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Net operating revenues $7,028,230 $7,154,014 $6,931,714 $7,474,193 $28,588,151
Operating expenses 7,551,705 7,501,499 7,286,760 7,835,365 30,175,329
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Loss from continuing
operations before other
income (expenses) (523,475) (347,485) (355,046) (361,172) (1,587,178)
Other income (expenses) (95,077) 543,287 (126,119) (126,534) 195,557
Minority interest earnings in
partnership (4,462) - - - (4,462)
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Income (loss) from continuing
operations (623,014) 195,802 (481,165) (487,706) (1,396,083)
Discontinued operations (3,705,781) 575,422 968 - (3,129,391)
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Net income (loss) $(4,328,795) $771,224 $(480,197) $(487,706) $(4,525,474)
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(b) Following is a calculation of the Company's total average assets
for TTM 9/30/06:
Average
4Q05 1Q06 2Q06 3Q06 TTM 9/30/06
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Total assets $22,117,770 $20,422,083 $19,737,625 $19,777,027 $20,513,626
Section 9 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits
(d) Exhibits - The following exhibits are furnished as part of this current
report:
Exhibit Description
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99.1 Copy of press release issued by the Company on January 29, 2007
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Company has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ORION HEALTHCORP, INC.
By:/s/ Stephen H. Murdock
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Stephen H. Murdock
Chief Financial Officer
Date: January 29, 2007
EXHIBIT INDEX
Exhibit
Number Description of Exhibits
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99.1 Copy of press release issued by the Company on January 29, 2007