---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-014058"
form_type: "8-K"
ticker: "AMS"
cik: "0000744825"
company_name: "AMERICAN SHARED HOSPITAL SERVICES"
filed_at: "2023-05-12T23:59:59+00:00"
generated_at: "2026-06-15T03:05:16.628539+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%.

## SEC filing metadata
- accession: 0001437749-23-014058
- form_type: 8-K
- ticker: AMS
- cik: 0000744825
- company_name: AMERICAN SHARED HOSPITAL SERVICES
- filed_at: 2023-05-12T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/744825/000143774923014058/0001437749-23-014058-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/744825/000143774923014058/asha20230511_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-014058
- JSON: https://secwatch.observer/filing/0001437749-23-014058.json
- Plain text: https://secwatch.observer/filing/0001437749-23-014058.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/744825/000143774923014058/0001437749-23-014058-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.