Brief: Apollo Medical In Q2 Began A Review Of Its Income Tax Filing Structure With Assistance Of Outside Consultants

Astrana Health

07/08/2023 22:31

Aug 7 (Reuters) - Apollo Medical Holdings Inc  AMEH.O :
    * APOLLO MEDICAL - IN Q2, BEGAN A REVIEW OF ITS INCOME TAX
FILING
STRUCTURE, & RELATED ACCOUNTING MATTERS, WITH ASSISTANCE OF
OUTSIDE CONSULTANTS
    * APOLLO MEDICAL - IDENTIFIED UNINTENTIONAL ERRORS IN ITS
ACCOUNTING FOR INCOME TAX EFFECTS OF SOME INTERCOMPANY
DIVIDENDS, CERTAIN NET OPERATING LOSSES
    * APOLLO MEDICAL HOLDINGS INC - HAS DETERMINED THAT
ADJUSTMENTS AS
OF DECEMBER 31, 2022 AND 2021 WERE MATERIAL AND WILL REQUIRE
RESTATEMENT
    * APOLLO MEDICAL - DETERMINED ADJUSTMENTS FOR YEARS ENDED
DEC 31,
2022, 2021, AND 2020, AND Q1 OF 2023 WERE MATERIAL & WILL
REQUIRE RESTATEMENT
    * APOLLO MEDICAL HOLDINGS INC - EXPECTS TO RECORD DECREASES
TO
PREVIOUSLY REPORTED NET INCOME OF $0.2 MILLION IN 2020, $3.2
MILLION IN 2021
    * APOLLO MEDICAL -  EXPECTS TO RECORD DECREASES TO
PREVIOUSLY
REPORTED NET INCOME OF $4.8 MILLION IN 2022, AND $1.8 MILLION IN
Q1 OF 2023
    * APOLLO MEDICAL - EVALUATING CHANGES TO ITS TAX STRUCTURE
TO
REDUCE CURRENT EFFECTIVE TAX RATE AND AMOUNT OF CASH TAXES

Source text: [ID:https://bit.ly/3OKvmue]
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