Business
Sensus Healthcare First Quarter 2022 Financial Results Feature Revenue Growth of 237%
Diluted EPS from operations of $0.20 compare with $(0.07) in the year-ago quarter Affirms expectations for continued growth in the second quarter and full
About this update from Sensus Healthcare, Inc.
[{"type":"text","content":"Diluted EPS from operations of $0.20 compare with $(0.07) in the year-ago quarter Affirms expectations for continued growth in the second quarter and full year profitability Conference call begins at 4:30 p.m. Eastern time today BOCA RATON, Fla., May 05, 2022 (GLOBE NEWSWIRE) -- Sensus Healthcare, Inc. (Nasdaq: SRTS), a medical device company specializing in highly effective, non-invasive, minimally-invasive and cost-effective treatments for oncological and non-oncological conditions, announces financial results for the three months ended March 31, 2022. Highlights from the first quarter of 2022 and recent weeks include the following (all comparisons are with the first quarter of 2021, unless otherwise indicated): Revenues were $10.3 million, up 237%Net income was $16.1 million, or $0.97 per diluted share, which included a gain on asset sale of $12.8 million, or $0.77 per diluted share; this compares with a net loss of $(1.1) million, or $(0.07) per shareExited the quarter with $32.8 million in cash and cash equivalentsAdjusted EBITDA, a non-GAAP financial measure, was $16.9 million, compared with $(0.8) millionShipped 33 systems, most of which were SRT-100 Vision™ systems, including one SRT-100™ system to China and seven Transdermal Infusion Systems.Launched TransDermal Infusion technology replacing needle injectionsSold non-core asset for $15.0 million in cashInstituted a $3.0 million share repurchase programPrepared for future growth with key promotions, including Vice President & General Counsel Michael J. Sardano named President & General CounselAffirms expectations for 2022 second quarter and full year profitability Management Commentary “Revenues for the first quarter reflect a sharpened focus on our core dermatology business, and we are pleased with the revenue growth we continue to achieve,” said Joe Sardano, chairman and chief executive officer of Sensus Healthcare. “During the quarter we sold our non-core asset for $15.0 million in cash and recorded a gain on asset sale of $12.8 million. This cash will primarily be used to fund future growth of our dermatology products and services. We launched TransDermal Infusion into the U.S. market which has tremendous potential in eliminating the need for needle injections allowing for more procedure to be less painful for patients. Also, our board of directors has approved a $3....