Business
Sensus Healthcare Reports First Quarter 2020 Financial Results
Conference call begins at 4:30 p.m. Eastern time today BOCA RATON, Fla., May 07, 2020 (GLOBE NEWSWIRE) -- Sensus Healthcare, Inc. (Nasdaq: SRTS), a medical
About this update from Sensus Healthcare, Inc.
[{"type":"text","content":"Conference call begins at 4:30 p.m. Eastern time today\nBOCA RATON, Fla., May 07, 2020 (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, 2020.\n Highlights from the first quarter of 2020 and recent weeks include (all comparisons are with the first quarter of 2019, unless otherwise indicated): Revenues were $1.7 million, compared with $5.4 millionNet loss was $3.6 million, or $0.22 per share, compared with a net loss of $2.1 million, or $0.13 per shareShipped four SRT systems, including one SRT-100 Vision™ system shipped to a direct customerWorldwide installed base of SRT systems as of March 31, 2020 was 474 systemsMaintained customer support via frequent direct outreach and a series of online programs highlighting the benefits of superficial radiotherapy (SRT) to treat of non-melanoma skin cancerCash, equivalents and investments increased to $15.8 million as of March 31, 2020, compared with $15.5 million as of December 31, 2019 due to expense reduction and receivables collection Management Commentary “I am so very proud of the Sensus team and how together we are navigating the challenges of the COVID-19 pandemic, which significantly impacted our first quarter financial results. Our intra-quarter sales historically have skewed toward the end of the quarter, and that is the time period in Q1 when the pandemic began closing the U.S. economy,” said Joe Sardano, Sensus Healthcare’s chairman and chief executive officer. “We are taking multiple actions to prepare for the resumption of post-pandemic daily life. We continue to expand awareness of SRT and its utility in treating non-melanoma skin cancer, while supporting physician customers and protecting cash so we emerge from this crisis ready to do business. “We have used this time of social distancing as an opportunity to reach out to customers on a personal level as never before. Sensus has built an impressive network of contacts over many years, and we are leveraging our contacts to help customers as much as possible, including sourcing items such as protective masks and critical medicines. We are sponsoring a series of online programs for de...