Business
Sensus Healthcare Reports Second Quarter 2020 Financial Results
Conference call begins at 4:30 p.m. Eastern time today BOCA RATON, Fla., Aug. 06, 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., Aug. 06, 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 six months ended June 30, 2020.\n Highlights from the second quarter of 2020 and recent weeks include (all comparisons are with the second quarter of 2019, unless otherwise indicated): Significantly expanded its market opportunity with the acquisition of two mobile laser companies operating throughout the State of FloridaAppointed Benson Suen as Vice President of International sales and sold an SRT-100™ in China due to his contributionNew guidelines issued by the American Society for Radiation Oncology (ASTRO) recommended superficial radiation therapy (SRT) as the first-line alternative to surgery when treating patients with non-melanoma skin cancer (NMSC)Revenues were $1.2 million, compared with $7.5 millionNet loss was $2.6 million, or $0.16 per share, compared with net income of $0.1 million, or $0.01 per diluted shareWorldwide installed base of SRT systems as of June 30, 2020 was 473 systemsMaintained customer support via frequent direct outreach and a series of online programs highlighting the benefits of SRT to treat of non-melanoma skin cancerCash, cash equivalents and investments were $18.9 million as of June 30, 2020, compared with $15.5 million as of December 31, 2019 due to expense reduction and cash provided in operating activities Management Commentary “Our quarterly revenues continued to be negatively impacted by COVID-19, yet I am pleased with our ability to maintain strong customer ties during the pandemic as well as with recent activities that position Sensus Healthcare for significant future growth,” said Joe Sardano, chairman and chief executive officer. “The acquisition of two mobile laser companies announced earlier this week and the subsequent formation of the Sensus Laser Aesthetic Solutions (SLAS) division is expected to generate base revenues of $1.0 million over the next 12 months. We also have the opportunity to layer into this division our new aesthetic lasers, which are expected to receive 510(k) clearance from the U.S. Food and Drug Administr...