Sharps Compliance (SMED) Reports In-Line Q1 EPS, Revenues Beat

Sharps Compliance (NASDAQ: SMED) reported Q1 EPS of $0.00, in-line with the analyst estimate of $0.00. Revenue for the quarter came in at $10.3 million versus the consensus estimate of $9.84 million.

David P. Tusa, President and Chief Executive Officer of Sharps, stated, “We’re pleased to start the fiscal 2019 with a strong first quarter. Over the past few years, we’ve strategically broadened our portfolio of solutions, growing from primarily a mailback company to our position now as a leading comprehensive provider of medical and pharmaceutical waste management services. While we benefitted from flu shot related orders this quarter, there is variability in that part of our business and we remain focused on growing our route-based and unused medication solutions, both of which contribute much more predictable, recurring revenue. During the first quarter, we added Florida to our route-based pick-up footprint and we now cover 24 states or 55% of the population. Furthermore, we’re seeing intensified demand for our unused medication solutions as communities and healthcare providers work to address the growing epidemic of prescription drug abuse and accidental poisonings. Last week, we announced our support of the DEA’s National Prescription Drug Take Back Day, scheduled to take place on October 27. As part of that announcement, we noted our Company milestone of having properly processed and treated more than 2.7 million pounds of unused medications since 2009 through the use of our MedSafe and TakeAway Medication Recovery System Envelopes. The Company has sold more than 3.4 million of its TakeAway Medication Recovery System Envelopes, installed 2,800 MedSafe units and has processed over 20,000 MedSafe liners. Through our leadership position, we are committed to increasing the role our solutions play in assisting the effort to fight the national opioid crisis.”

For earnings history and earnings-related data on Sharps Compliance (SMED) click here.

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