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First Choice Healthcare Solutions Announces 105% Revenue Growth in Second Quarter 2015
First Choice Healthcare Solutions Announces 105% Revenue Growth in Second Quarter 2015.
About this update from First Choice Healthcare Solutions, Inc.
[{"type":"text","content":"\n \n \n First Choice Healthcare Solutions Announces 105% Revenue Growth in Second Quarter 2015\n \n \nFirst Choice Healthcare Solutions Announces 105% Revenue Growth in Second Quarter 2015\n\nAll Business Segments Post Profitable Operating Results; Key Expansion Materially Strengthens Balance Sheet and Delivers Positive Shareholder Equity\n\n \n MELBOURNE, FL--(Marketwired - Aug 17, 2015) - First Choice Healthcare Solutions, Inc. (OTCQB: FCHS) (\"FCHS,\" \"First Choice\" or the \"Company\"), a diversified holding company focused on delivering clinically superior, patient-centric, multi-specialty care through state-of-the-art medical centers of excellence, today announced its record second quarter financial results for the three and six months ended June 30, 2015. \n Financial Highlights for the Three Months Ended June 30, 2015 Compared to Three Months Ended June 30, 2014:\n \n \n Total revenues climbed 105% to $4,324,314, up from $2,107,164 \n \n \n The B.A.C.K. Center, which entered an Operations and Control Agreement with First Choice on May 1, 2015, contributed $1,930,820 in patient service revenue and $256,132 in rental revenue in the second quarter 2015; and produced net income of $26,882. \n \n \nPatient service revenue generated by First Choice Medical Group rose to $1,873,219 from $1,848,441 on a comparable quarter-over-quarter basis; and grew net income 349% to $68,295 when compared to a net loss of $27,460 in the prior year's second quarter.\n \n \nRental revenue produced by the Company's real estate subsidiary, Marina Towers, LLC, increased to $375,512 from $367,460; and net income rose 89% to $66,329 from net income of $35,695 when comparing the three month reporting periods in 2015 and 2014, respectively. \n \n \n \n \nAs a result of expansion initiatives implemented in the second quarter, the Company's net loss increased 11% to $496,729, or $0.03 loss per basic and diluted share, compared to $448,571, or $0.03 loss per basic and diluted share.\n \n \n \n \n Financial Highlights for the Six Months Ended June 30, 2015 Compared to Six Months Ended June 30, 2014:\n \n \n Total revenues were $6,829,482, representing a 57% increase when compared to $4,341,917.\n \n \n First Choice Medical Group's patient service revenues totaled $4,113,283, rising 8% from $3,821,271; and net income soared 253% to $597,193, up ...