Infusystem Hldgs, Inc. (INFU) Reports Q3 Loss of $0.03 on Revenues of $16.68M

Infusystem Hldgs, Inc. (NYSE: INFU) reported Q3 EPS of ($0.03). Revenue for the quarter came in at $16.68 million.

Commenting on the third quarter, Richard DiIorio, Chief Executive Officer of InfuSystem, said, “InfuSystem continued its solid 2018 year-to-date performance during the third quarter. We are making strong progress and gaining traction on our strategic initiatives that we believe will lead to significant oncology market share gains in 2019. This includes the introduction during the third quarter of InfuSystem Mobile, a “first of its kind” mobile application to enhance safety and communication. Also setting us up strong for 2019 is our continuing success in winning new business for InfuBLOCK, our highly effective alternative to opioid pain management.”

“As was the case in the second quarter, the year-over-year comparisons are difficult and can obscure the progress we believe InfuSystem is making in improving its operations and future prospects. In addition to the revenue reporting changes required by ASC 606, the sharp adjustments to our business that began in 2017 and continue in 2018, have resulted in some choppy quarterly financial reports. The underlying direction, however, is very positive with evidence of this reflected in the company’s steady growth, our much stronger operating cash flow, and in our confidence that we will achieve substantially improved 2018 year-end adjusted EBITDA results.”

Mr. DiIorio continued, “InfuSystem’s board of directors and management team are focused on strategies that will deliver substantial long-term value creation for shareholders while ensuring superior care and service to our customers. In the recently completed third quarter, we were successful in eliminating a long-running distraction to our business plan, when we won a contested proxy fight and then used our strong cash flow and improved banking relationship to execute a significant repurchase of outstanding shares. With the company’s much improved financial condition, we have been able to both invest in future growth opportunities and execute year-to-date stock repurchases totaling $10.3 million, approximately 14% of our outstanding shares.”

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

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