The following is a summary of the American Shared Hospital Services (AMS) Q1 2024 Earnings Call Transcript:
Financial Performance:
American Shared Hospital Services reported a Q1 2024 revenue of $5.2 million, marking a 5.9% increase from the same period last year.
Gross margin rose by 12.3% to $2.1 million, representing a 41% gross margin percentage.
Net income for the quarter came in at $119,000 or $0.02 per share, as opposed to $188,000 or $.03 per share in Q1 2023.
Business Progress:
AMS acquired three radiation therapy centers in Rhode Island in Q1, leading to a boost in revenue.
Greg Mercurio was appointed the Senior Vice President of Radiation Oncology.
There were improvements seen in patient experience and volume in Peru and Ecuador sites, but others saw a slight dip in revenue due to equipment upgrades.
Company plans to inaugurate a new center in Puebla, Mexico in the next 60 days, with further expansion strategies to develop proton beam and radiation oncology centers in the U.S.
The company has applied to run a proton beam radiation therapy center in Rhode Island.
Leasing revenue increased by 0.6%, and revenue from the retail segment saw a significant increase due to improved service offerings in Peru and Ecuador.
Future growth is expected from further recruitment and relationship building efforts.
More details: American Shared Hospital Services IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.