InfuSystem Holdings Reports $9.2 Million of Revenue and 45% Increase in Adjusted EBITDA for the First Quart... (ncluding the recent addition of Bryan Ru...)

InfuSystem Holdings Reports $9.2 Million of Revenue and 45% Increase in Adjusted EBITDA for the First Quarter of 2009

Date:5/5/2009

ncluding the recent addition of Bryan Russo as chief commercial officer. We look forward to his contributions as we focus on accelerating and deepening our penetration of oncology practices nationwide. Looking ahead, we anticipate continued organic revenue growth, greater operational efficiencies, and continued strong cash flow to allow for paying down additional debt in 2009."

Financial Results

Revenue for the first quarter ended March, 31 2009 was $9.2 million, an 8.2% improvement compared to $8.5 million for the same period in 2008. The increase in revenue was primarily due to obtaining business at new customer facilities, increased reimbursement, as well as improved collection efficiencies. Operating income for the first quarter of 2009 was $1.3 million versus operating income of $521,000 for the same period in 2008. The increase in operating income for the first quarter of 2009 was due, in part, to increased sales and lower product and supply costs, which were partially offset by an increase in selling and marketing expenses.

The net loss for the first quarter of 2009 was ($2.5 million), or $(0.14) per diluted share, compared to net income of $4.8 million or $0.29 per diluted share, for the same period in 2008. The net income for the first quarter of 2009 included a ($2.6 million) loss on derivative financial instruments, which was predominantly attributable to the increase in the publicly traded value of the Company's warrants during the quarter, compared to a $5.2 million gain for the first quarter of 2008.

Adjusted EBITDA for the first quarter ended March 31, 2009 was $2.9 million, compared to $2.0 million for the same period in 2008. The Company defines Adjusted EBITDA as earnings before interest, taxes, depreciation and amortization, and excludes gain (loss) on derivative financial instruments and stock-based compensation. Adjusted EBITDA is not a measure of performance calculated in acc
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SOURCE InfuSystem Holdings, Inc.
Copyright©2009 PR Newswire.
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1. InfuSystem Appoints Bryan Russo as Chief Commercial Officer
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3. InfuSystem Holdings Reports 12.9% Revenue Increase and $3.3 Million of Adjusted EBITDA for the Fourth Quarter of 2008
4. InfuSystem Holdings Provides Business Update and Comments on First Quarter 2008 Financial Results
5. InfuSystem Holdings Appoints Two New Board Members
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11. Innophos Holdings, Inc. Schedules Call to Discuss First Quarter 2009 Results

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