Infusystem Hldgs, Inc. (INFU) Reports Q1 Loss of $0.07 on Revenues of $17.7M

Infusystem Hldgs, Inc. (NYSE: INFU) reported Q1 EPS of ($0.07). Revenue for the quarter came in at $17.7 million, versus $0 reported last year.

First Quarter 2017 Overview:

• Net revenues totaled $17.7 million, a decrease of 3.5%, compared to the first quarter 2016 net revenues of $18.3 million;
• Product sales increased $0.7 million, or 39.4%, to $2.5 million, compared to the first quarter of 2016;
• Gross profit was $10.6 million, a decrease of $1.9 million, or 15.2%, compared to the first quarter of 2016;
• Gross margin was 60.3%, compared to 68.6% for the first quarter of 2016;
• General and administrative (\"G&A\") expenses decreased $0.2 million, or 3.1%, to $6.5 million, compared to the first quarter of 2016;
• Provision for doubtful accounts (\"Bad Debt\") increased $0.1 million, to $1.8 million, compared to the first quarter of 2016, including $0.3 million in additional reserves related to delayed collections due to changed billing practices following SE1609 announced last year by Centers for Medicare and Medicaid Services (\"CMS\");
• Net loss was $1.5 million, or $0.07 per diluted share, compared to the first quarter of 2016 net income of $0.0 million, or $0.00 per diluted share;
• Net collected revenues (a non-GAAP financial measure) decreased 4.5%, to $15.8 million, compared to the first quarter of 2016;
• Adjusted EBITDA (a non-GAAP financial measure) decreased 56.5% to $1.4 million, compared the first quarter of 2016; and
• The reengineering of our billing and collections process led to a record level of pump billings in the first quarter of 2017 despite having 25% less staff in the billing and collections group.

For earnings history and earnings-related data on Infusystem Hldgs, Inc. (INFU) click here.

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