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Alliance HealthCare Services Reports Results For The Fourth Quarter And Year Ended December 31, 2011 And Reaffirms Full Year 2012 Guidance

Alliance HealthCare Services, Inc. (NYSE:AIQ) (the “Company” or “Alliance”), a leading national provider of outpatient diagnostic imaging and radiation therapy services, announced results for the fourth quarter and year ended December 31, 2011.

Fourth Quarter and Full Year 2011 Financial Results

Revenue for the fourth quarter of 2011 was $120.7 million compared to $117.7 million in the fourth quarter of 2010. For full year 2011, revenue was $493.7 million, which was at the higher end of the Company’s guidance range of $475 million to $495 million. Full year 2010 revenue was $478.9 million.

Alliance’s Adjusted EBITDA (as defined below) was $35.4 million in the fourth quarter of 2011 compared to $35.0 million in the fourth quarter of 2010. For full year 2011, Adjusted EBITDA totaled $149.3 million, which was at the higher end of the Company’s guidance range of $140 million to $150 million. Full year 2010 Adjusted EBITDA was $158.1 million.

Alliance’s net loss, computed in accordance with generally accepted accounting principles (“GAAP”), totaled ($16.4) million in the fourth quarter of 2011 and ($29.6) million in the fourth quarter of 2010. Full year 2011 net loss totaled ($160.1) million compared to net loss of ($32.7) million for full year 2010.

Net loss per share on a diluted basis, computed in accordance with GAAP, was ($0.31) per share in the fourth quarter of 2011 and ($0.56) per share in the fourth quarter of 2010. In the fourth quarter of 2011, net loss per share on a diluted basis was impacted by ($0.19) in the aggregate due to non-cash impairment charges, restructuring charges, mergers and acquisitions transaction costs, fair value adjustments related to interest rate swaps and a lower GAAP income tax rate than our historical income tax rate. Alliance’s historical income tax rate has been approximately 42%, rather than the GAAP income tax rate of 33% for the fourth quarter of 2011. In the fourth quarter of 2010, net loss per share on a diluted basis was impacted by ($0.50) in the aggregate due to non-cash impairment charges, severance and related costs, mergers and acquisitions transaction costs and fair value adjustments related to interest rate swaps.

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