Business
Sensus Healthcare Reports Fourth Quarter and Full Year 2019 Financial Results
Fourth quarter net income up 10-fold to $1.0 million, diluted EPS of $0.06 Conference call begins at 4:30 p.m. Eastern time today BOCA RATON, Fla., Feb. 13,
About this update from Sensus Healthcare, Inc.
[{"type":"text","content":"Fourth quarter net income up 10-fold to $1.0 million, diluted EPS of $0.06\n Conference call begins at 4:30 p.m. Eastern time today BOCA RATON, Fla., Feb. 13, 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 and 12 months ended December 31, 2019. Highlights from the fourth quarter of 2019 and recent weeks include (all comparisons are with the fourth quarter of 2018, unless otherwise indicated): Revenues were $8.5 million, compared with $8.1 million for the fourth quarter of 2018Net income was $1.0 million, or $0.06 per diluted share, compared with $0.1 million, or $0.01 per diluted shareGross margin expanded by 440 basis points due to higher selling prices and product mixAdjusted EBITDA, a non-GAAP financial measure, was $1.2 million, compared with $0.4 millionShipped 25 SRT systems during the fourth quarter, including 16 SRT-100 Vision™ systemsWorldwide installed base of SRT systems at year-end was 471 systemsShipped a Sculptura™ Modulated Robotic Brachytherapy with Beam Sculpting™ capabilities and Robotic Respiratory Tracking to a leading California-based medical center Management Commentary “We closed 2019 with an excellent fourth quarter featuring a 5% increase in revenue over a strong prior-year comparison, while generating meaningful profitability,” said Joe Sardano, Sensus Healthcare’s chairman and chief executive officer. “When Sensus came public almost five years ago, we projected profitability in 2020. With much of the research and development that supported new products including Sculptura and Sentinel™ now behind us, we are determined to be profitable for the year. “During the quarter we shipped 26 systems, including 16 SRT-100 Vision systems, nine SRT-100 and SRT-100+ systems and one Sculptura system. Our Sentinel software is embedded in our SRT-100+ units and allows the practice to better manage the system with billing and real-time alerts, among other capabilities, while we provide remote service and monitoring. The SRT-100+ helps us provide more efficient service to our customers, while making a shared revenue program, which began in the third quarter of 2019, possible. Currently 34% of th...