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BioScrip Reports First Quarter 2013 Financial Results
Date:5/8/2013

ELMSFORD, N.Y., May 8, 2013 /PRNewswire/ -- BioScrip, Inc. (NASDAQ: BIOS) today announced 2013 first quarter financial results.  First quarter revenue from continuing operations was $199.1 million and the net loss from continuing operations was $7.5 million, or $0.13 per diluted share. Consolidated Adjusted EBITDA for the first quarter was $11.5 million, and consolidated Adjusted EPS for the first quarter was $0.04 per diluted share.

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As a result of the sale of the Company's traditional and specialty pharmacy mail operations and community retail pharmacy stores on May 4, 2012 (the "Pharmacy Services Asset Sale"), the Company's financial statements reflect the discontinued operations' results for the three months ended March 31, 2013 and 2012 separate from the continuing operations of the business. The remaining assets and liabilities of the divested business that were not transferred as a part of the Pharmacy Services Asset Sale are included in continuing operations.  

First Quarter Highlights

  • Revenue from continuing operations increased by $43.4 million, or 27.9%, as compared to the prior year. Revenue from our Infusion Services segment increased by $45.3 million, or 41.5% as compared to the prior year;
  • Gross profit from continuing operations increased 18.1% to $63.2 million, or 31.8% of revenue, from $53.5 million, or 34.4% of revenue, in the prior year period;
  • Adjusted EBITDA from continuing operations increased $3.1 million, or 37.0% to $11.5 million, or 5.8% of revenue, from $8.4 million, or 5.4% in the prior year period.  The performance in the quarter included investments in growth initiatives, such as increased sales resources and the development of new market offerings;

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    SOURCE BioScrip, Inc.
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