Financial Data and Key Metrics Changes - For the fiscal fourth quarter, consolidated revenue was 16.3million,adecreasefrom14.7 million in the same period last year, with a net loss from continuing operations of 1.4millioncomparedtoanetincomeof4.1 million last year [22][23] - Adjusted EBITDA for the fourth quarter was 3.5million,downfrom5.9 million in the prior year [22][23] - For the year ended June 30, 2021, total revenue increased to 57.6millionfrom55.7 million, with adjusted EBITDA of 12.4millioncomparedto16.0 million in the prior year [28][32] Business Line Data and Key Metrics Changes - Durable Medical Equipment (DME) generated 15.4millioninrevenueforthefourthquarter,upfrom13.9 million last year, driven by organic growth and acquisitions [25] - DME's total revenue for the year was 57.6million,a3.65.9 million from 2.8million[28][29]−InvestmentManagementgenerated0.9 million in revenue for the fourth quarter, slightly up from 0.7million,withannualrevenueof3.2 million compared to 3.3millionintheprioryear[32][33]MarketDataandKeyMetricsChanges−TheDMEbusinessfacedchallengesduetotheCOVID−19pandemic,withsoftdemandforsleepstudiesimpactingreferralsfornewequipmentsetups[25]−TheinvestmentmanagementsegmentbenefitedfromasharedserviceagreementwithImperialCapital,enhancingtheinvestmentteam′sdepthandexperience[19]CompanyStrategyandDevelopmentDirection−Thecompanyaimstocreateshareholdervaluethroughitstwoverticals:operatingcompaniesandinvestmentmanagement,withafocusonacquisitionsandincreasingassetsundermanagement[5][10]−AtransformativefinancingwithJPMorganhasimprovedDME′scostofcapitalandprovidedfundsforfutureacquisitions[12]−Thecompanyhassimplifieditscorporatestructure,reducingdebtby57 million and improving financial flexibility for growth opportunities [11][43] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about growth opportunities in the DME sector as the industry consolidates, despite current supply chain challenges [18][27] - The investment management segment is making strong progress in increasing assets under management and revenues, with a focus on proprietary investments and specialty finance [15][19] Other Important Information - The company completed a significant recapitalization of GECC, raising 31.7millioninarightsofferingandclosinganew25 million revolving credit facility [14] - The company sold its entire ownership interest in two Class A office buildings for $4.6 million, reinvesting the proceeds into dividend-paying shares [17][18] Q&A Session Summary Question: What is the outlook for the DME business? - Management indicated that there are compelling opportunities in the DME sector as the industry continues to consolidate, despite current challenges [18] Question: How is the investment management segment performing? - The investment management segment is making strong progress in increasing assets under management and revenues, benefiting from strategic partnerships [19]
