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First Choice Healthcare Solutions Announces Record Revenues and Net Profitability for 2015 Third Quarter
First Choice Healthcare Solutions Announces Record Revenues and Net Profitability for 2015 Third Quarter.
About this update from First Choice Healthcare Solutions, Inc.
[{"type":"text","content":"\n \n \n First Choice Healthcare Solutions Announces Record Revenues and Net Profitability for 2015 Third Quarter\n \n \nFirst Choice Healthcare Solutions Announces Record Revenues and Net Profitability for 2015 Third Quarter\n\nRevenues More Than Triple, Rising 233% to $6.29 Million From $1.89 Million, and Net Income Climbs to $631,281, Up From Net Loss of $375,620, for Comparable Three Month Reporting Periods; Company to Host Conference Call and Webcast on Wednesday, November 18 to Discuss Financial Results and Recent Corporate Developments Expected to Fuel Future Growth\n\n \n MELBOURNE, FL--(Marketwired - Nov 17, 2015) - First Choice Healthcare Solutions, Inc. (OTCQB: FCHS) (\"FCHS,\" \"First Choice\" or the \"Company\"), one of the nation's only non-physician-owned, publicly traded healthcare services companies focused on the delivery of Orthopaedic care and treatment, today announced its financial results for the three and nine month reporting periods, ended September 30, 2015. \n Financial Highlights for the Three Months Ended September 30, 2015 Compared to Three Months Ended September 30, 2014:\n \n \n Total revenues increased 233% to $6,292,122 from $1,891,045.\n \n \n The B.A.C.K. Center, which joined First Choice on May 1, 2015, contributed $4,006,038 in patient service revenue and $248,155 in rental revenue in the second quarter 2015.\n \n \nPatient service revenue generated by First Choice Medical Group rose to $1,769,948 from $1,627,157 on a comparable quarter-over-quarter basis.\n \n \nRental revenue produced by the Company's real estate subsidiary, Marina Towers, LLC, remained consistent and very predictable at $379,924, compared to $373,200.\n \n \n \n \nNotwithstanding non-cash expenses for stock-based compensation, depreciation and amortization, income from operations soared to $1,878,984 from $361,345. After factoring non-cash expenses, income from operations increased to $873,180 compared to a loss from operations of $140,866.\n \n \nNet income climbed to $631,281, or $0.03 earnings per basic and diluted share, compared to a net loss of $375,620, or $0.02 loss per basic and diluted share.\n \n \n \n Financial Highlights for the Nine Months Ended September 30, 2015 Compared to Nine Months Ended September 30, 2014:\n \n \n Total revenues were $13,121,604, representing a 111% increase when compared to $6,232,96...