InfuSystem reports Q3 EPS 11c vs. 8c last year

Reports Q3 revenue $36.5M, consensus $36.81M. CEO Carrie Lachance commented, “We continue to focus on driving value creation by prioritizing profitable growth and improving processes to lower our costs. Some of these initiatives are apparent in the current period’s results, which marked higher revenue, margins and cash flow, while others will benefit future periods….We are encouraged by continued success in our core areas of the business as well. In Oncology, we had a record quarter for revenue and secured a sought after contract with a large hospital system that will begin contributing patient volume increases before the end of Q4…Finally, our efforts to strategically focus on profitable growth has led us to restructure the contract with our largest biomedical services customer. The changes, which include a crucial price increase for devices on contract, will result in a significant reduction in the number and service levels of devices covered…We are working now to resize and relocate our service teams to conform with the amended scope of services. When we are done with this process, we believe that we will have a stronger base of operations, allowing us to return to revenue growth in our field based biomedical services business by continuing to focus on adding new customers and volumes with strong financial returns”.