CRH Medical (CRHM) Reports Q4 Revenues Above Estimates

CRH Medical (NYSE: CRHM) reported Q4 revenue for the quarter came in at $32 million versus the consensus estimate of $27.81 million.

• Total revenue: $32.0 million
• Operating income: $6.9 million, 22% operating income margin
• Adjusted operating EBITDA: $15.9 million, 50% adjusted operating EBITDA margin
• Net and Comprehensive income – Shareholder: $1.7 million
• Adjusted operating shareholder EBITDA: $10.7 million
• Anesthesia patient cases: 81,528

Edward Wright, Chief Executive Officer of CRH commented, "2018 was a record year for revenues, and most importantly, adjusted operating shareholder EBITDA. We are extremely pleased with our results considering the headwind we faced this year with the reduction in anesthesia reimbursement rates as a result of changes announced by the Centers for Medicare & Medicaid Services in 2017. We knew this was going to be a challenging year as we implemented the lower reimbursement rates, and I think it is fair to say that not many people expected us to produce these kinds of financial results. It is a testament not only to our track record as a valued partner and reputation in the GI community, but to our dedicated team of employees." Mr. Wright continued, "We look forward to continued growth in 2019."

For earnings history and earnings-related data on CRH Medical (CRHM) click here.

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