Dallas, Texas 05/12/2014 (FINANCIALSTRENDS) –On May 08, 2014 BioScrip Inc. (NASDAQ:BIOS) announced its financial results for the 1Q14. Revenue of the company from continuing operations was $239.6 million, while the net loss from continuing operations was $0.37 per basic and diluted share or $25.4 million, while the Non-GAAP adjusted loss of the company from continuing operations per basic and dilute share was $0.13. The company also completed its sale of largely all of its Home Health business to LHC Group, Inc. for a total purchase price of around $60 million on March 31, 2014.
1Q14 Earnings Highlights:
Revenue of BioScrip Inc. (NASDAQ:BIOS) from continuing operations was increased by 32.3% or $58.5 million as compared to the same period of last year. Revenue of the company from the Infusion Services segment was increased by 43.4% or $67 million as compared to the same period of past year.
Gross profit of the company from continuing operations was 27.2% of revenue or $65.1 million as compared to 30.9% of revenue or $56.0 million for the same period of last year. Adjusted EBITDA of the company from continuing operations was $9.1 million, which indicates a reduction of $1.1 million as compared to same period of last year. Adjusted EBITDA of the company from the Infusion Services segment was increased by 24.7% or $2.9 million as compared to the same period of last year, while the corporate overhead of the company was reduced by 5.6% or $0.4 million as compared to the same period of last year.
Executive Comment:
Rick Smith, President and Chief Executive Officer of BioScrip said: “We remain focused on advancing each of our initiatives to drive organic growth in our core business, while continuing to provide outstanding clinical care to patients across our network. Our team members across the organization are highly focused on our continued success, and we look forward to continuing our momentum to drive results and create value for our shareholders,”
BioScrip Inc. (NASDAQ:BIOS) stock gained 17.08% on Friday and closed at $7.13.
