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BioScrip Reports Second Quarter 2014 Financial Results
Date:8/6/2014

ELMSFORD, N.Y., Aug. 6, 2014 /PRNewswire/ -- BioScrip, Inc. (NASDAQ: BIOS) today announced its financial results for the second quarter of 2014. Second quarter revenue from continuing operations was $247.1 million, and the net loss from continuing operations, net of income taxes, was $18.6 million, or $0.27 per basic and diluted share. Non-GAAP adjusted loss from continuing operations per basic and diluted share was $0.07.

Second Quarter Highlights

  • Total revenue increased by $74.8 million, or 43.4%, as compared to the prior year period. Revenue from the Infusion Services segment increased by $74.6 million, or 47.8%, as compared to the prior year period. Organic revenue growth for the Infusion Services segment remained in the double digits year-over-year.
  • Gross profit from continuing operations was $65.4 million, or 26.4% of revenue, as compared to $57.8 million, or 33.5% of revenue, in the prior year period. The decline in gross profit margin percentage was driven primarily by the decline in the higher margin PBM Services segment.
  • Adjusted EBITDA from continuing operations was $11.0 million, an increase of $0.2 million over the prior year period. Adjusted EBITDA from the Infusion Services segment increased by $2.2 million, or 15.7%, as compared to the prior year, offset by a $3.1 million, or 62.6%, decrease in the PBM Services segment. Adjusted EBITDA also included $4.6 million of income related to the decrease of the fair value of contingent consideration relating to the Company's Infusion acquisitions, offset by a $5.5 million increase in the bad debt and contractual reserve provisions relating to the integration of our acquisitions. Additionally, Adjusted EBITDA included $0.5 million of increased investment in reimbursement resources in the form of overtime, temporary labor and third-party professional fees.
  • As a result
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  • SOURCE BioScrip, Inc.
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