Business
Sensus Healthcare Reports Fourth Quarter and Full Year 2020 Financial Results
Achieves fourth quarter net income of $1.0 million on revenues of $5.1 million Conference call begins at 4:30 p.m. Eastern time today BOCA RATON, Fla., Feb.
About this update from Sensus Healthcare, Inc.
[{"type":"text","content":"Achieves fourth quarter net income of $1.0 million on revenues of $5.1 million Conference call begins at 4:30 p.m. Eastern time today BOCA RATON, Fla., Feb. 25, 2021 (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, 2020. Highlights from the fourth quarter of 2020 and recent weeks include the following (all comparisons are with the fourth quarter of 2019, unless otherwise indicated): Shipped 18 systems during the quarter, including 12 domestic direct sales and three systems to ChinaShipped a system to Holy Name Medical Center in Teaneck, New Jersey to deliver superficial radiation therapy (SRT) to the lungs of COVID-19 patients with pneumoniaThe Centers for Medicare and Medicaid Services (CMS) significantly increased reimbursement for the main SRT code along with meaningful increases in Evaluation & Management (E/M) codesThe Journal of Clinical and Aesthetic Dermatology published a retrospective study showing keloidectomy followed by SRT had an approximate 10% recurrence rate, compared with an expected recurrence rate of more than 80% following surgical excision aloneMaintained customer support during the COVID-19 pandemic via frequent direct outreach and a series of online programs highlighting the benefits of SRT to treat non-melanoma skin cancerLaunched new FDA-cleared aesthetic lasers via Sensus Laser Aesthetic Services (SLAS), the company’s mobile aesthetic laser businessContinued generating recurring revenue via the Sentinel™ IT Solutions package, now included in just-launched aesthetic lasers as well as SRT-100 Vision™ systemsRevenues were $5.1 million, compared with $8.5 million a year ago and up from $1.6 million in the third quarter of 2020Net income was $1.0 million, or $0.06 per diluted share, unchanged from the prior yearAdjusted EBITDA, a non-GAAP financial measure, was $1.3 million for both fourth quarter of 2020 and 2019 Management Commentary “Revenues improved significantly during the fourth quarter compared with the first three quarters of the year. Reflecting our keen attention to operating expenses. We generated net income of $1.0 million for the quarter, a p...