AMS reports Q1 net income of $188K ($0.03 EPS), down 30% YoY; revenue +1.6%

AMERICAN SHARED HOSPITAL SERVICES

2023-Q1 EPS reported $0.03 revenue$4,925,000

Total revenue $4.925M (+1.6% YoY); gross margin fell to 38.7% from 42.6%.
Operating income $98K, down 83.7% from $600K; selling & admin costs up 16.7%.
Appointed Robert Hiatt as new CFO; second order of 2023 for Gamma Knife Esprit upgrade.
Approved upgrades in Ecuador and Mexico; start-up expected Q3 2023. Cash $13.2M.
Adjusted EBITDA $1.903M vs $1.922M; Gamma Knife procedures down 10.9%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AMERICAN SHARED HOSPITAL SERVICES reported first quarter ended March 31, 2023 results: revenue $4,925,000, net income $188,000, EPS $0.03 per diluted share.

Period: first quarter ended March 31, 2023
Revenue: $4,925,000
Net income: $188,000
EPS: $0.03 per diluted share
Result: reported results

Exact text from the filing

First Quarter 2023 Highlights ● Total revenue in the first quarter was $4,925,000, an increase of 1.6% from the comparable period in 2022. Total proton therapy revenue increased 13.5% period-over-period; fractions decreased 5.7%. ● Gross margin was $1,908,000, a period-over-period decrease of 7.7%. The gross margin percentage was 38.7% of revenue. ● Operating income for the first quarter of 2023 was $98,000 compared to operating income of $600,000 in the first quarter of 2022, a decrease of 83.7%. ● Net income attributable to American Shared Hospital Services in the first quarter was $188,000, or $0.03 per diluted share, compared to net income of $269,000, or $0.04 per diluted share, for the same period in the prior year.

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Source: SEC EDGAR

accession 0001437749-23-014058

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