American Shared Hospital Services (NYSE MKT:AMS) Q1 2019 Earnings Conference Call Transcript

May 09, 2019 • 03:00 pm ET

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American Shared Hospital Services (NYSE MKT:AMS) Q1 2019 Earnings Conference Call Transcript

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Q & A
Operator
Operator

Thank you. We will now begin the question-and-answer session. (Operator Instructions) And we do have a question from Lenny Dunn from Mutual Trust Company. Please go ahead.

Analyst
Leonard Euler Dunn

Yeah. Hi, good afternoon.

Executive
Ernest Bates

Good afternoon, Lenny.

Analyst
Leonard Euler Dunn

Yeah. The Gamma Knife numbers look exactly as I expected them to be. And the book value goes up again a little bit, and was certainly profitable. But I am still very disappointed that we don't have a proton beam signing. I mean we keep hearing it's imminent, and is it imminent now?

Executive
Ernest Bates

I think it is, Lenny. This is Dr. Bates. We have plans to place a unit down in Southern California at a hospital in Long Beach. And we are now in negotiations with a hospital in San Francisco, our hometown, to place a proton -- I'm sorry a proton machine there. I think things are going well. Hopefully, in the near future, we'll announce these two placements in contracts.

Analyst
Leonard Euler Dunn

Well, that would be great. But each quarter goes by and it keeps dangling out in front of us. But do you realistically think we're going to get at least one of these signed in the very near term?

Executive
Ernest Bates

Yes.

Analyst
Leonard Euler Dunn

Okay. And have we made any progress in convincing these people in Orlando that if they don't put another unit in, that somebody else will? I don't mean next door to them but certainly in their territory.

Executive
Craig K. Tagawa

Yes. We're talking to them about trying to put a second unit in. There's nothing concrete and there is no timetable at this point. But we have been talking about it with them.

Executive
Ernest Bates

Lenny, I believe this is probably one of the most successful single-room proton systems in the world. They're doing very well. And I think they substantiates what we have said that the single-room was the way to go with protons.

Analyst
Leonard Euler Dunn

No. No question about it and no question to it being very successful, and the numbers speak for themselves. And the part I don't get is why they don't wake up and put another one in to prevent competition?

Executive
Craig K. Tagawa

Yeah. We're in discussions with them, but there's nothing -- there is no concrete timetable at this point.

Analyst
Leonard Euler Dunn

Okay. That's what you said. But anyhow, with the Long Beach one, it has been dangling out there for some time now. You had mentioned that you thought we're very close, the last call, to having that signed. So I hope we can see an announcement soon. Okay. That's -- again, the business is successful. But I think that if you want to wake up the share price, you got to sign another proton beam.

Executive
Ernest Bates

Lenny, this is Ernie Bates. With respect to the Long Beach, the potential Long Beach project, it is, in fact true that we've been having discussions for a long period about developing a single-room facility there. We have identified a new potential hospital partner, and we're working with several parties to bring this project to fruition.

Operator
Operator

And I'm showing no further questions. I'll