AMS - Earnings call transcript Q4 2017 | American Shared Hospital Services

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Operator

Welcome to the Fourth Quarter and Year-End 2017 Earnings Conference Call. My name is Sylvia and I’ll be your operator for today’s call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session [Operator instructions]. Please note that this conference is being recorded. the to turn now will call Dr. over I Bates. Ernest Dr. Bates, you begin. may

Craig Tagawa

annual volume. months XXXX. statements on financial Sylvia, Craig the ended AMS’s proxy factors, you XXXX the said at its fractions want the we XXst, we affected with But and operating volume may U.S. which XX-Q to report including I call held Tagawa. call remarks Treatment is Orlando for Alexis Shareholders conference proton XX-K the fourth to review fractions third this as that and three Please of XXth fourth Form vary conference our financial about for for Company increased The on XX.X% update Company’s future our quarter the to third of the December important Health note in of XX.X% Securities solid webcast. and our therapy Cancer Thank quarter This first, on of fourth detail quarterly to and expect make from Exchange statement highlight filings reports Harbor of and and improvement will X,XXX Safe XXXX, get for rebound. prospects a XXX Reform is This conference the ended on rebound We compared purposes Wallace compared to was by the information XXXX, the that quarter contained us Litigation constitute these in X,XXX Private XXXX moment. a September Orlando. last may call. various for those Securities in you, treatment thank proton definitive this slowdown the unexpected Company, expectations, no quarter results the quarter the compared in the XX, volume the various performance call discussed to assumes the fourth of in we fractions improvement, in of Company’s joining and all Commission, therapy XXXX -- in XXXX, treatment plans path to June Actual Act volume was indicated XXXX those fourth the of provisions XXXX materially significant and quarter for forward-looking conference and on the results back compared on the up that results result Form Health, this under forward-looking for XXXX. year March the obligation quarter center XX, quarter-over-quarter in to Center quarter of growth the fourth quarter of at and the XX, a XXXX. fourth Meeting for our June in for Annual including statements performed of

We that XXXX. could centers stages. proton large clinical increase adoption will treatment centers therapy a make continues cancer increase. importantly, proton are optimistic is the its for United therapy rate benefit believe in in volume are operating still indications But on to marketplace the in therapy only the come. years proton early will this The rise pace U.S. among benefits proton the clinical more from that to leading But of XX with therapy proton the States, of we development proton

this in new arrangements Knife Lincoln, additional will add generating risk business. expected and in to sharing Lima, us consistent Volumes anticipate successful sites at the Peru Nebraska, today's ramping centers a help AMS’s remains business Knife our be XXXX. and are we are these new sites Gamma in interest and are in healthcare increased accretive up Gamma environment future. Our that

mind Knife year. for performance benefit for AMS Looking It's in increase in simple, the Year XXXX. or that as and take well. for this rates the centers increase tax implemented Medicaid X% treatments New treatment increases keep effect a the lower in financial rate services reimbursement federal will that and Medicare to proton the X.X% complex from XXXX. also into intermediate Medicare These for contribution our make rate positive Gamma to should important

over will turn I Alexis Wallace to the over to Now, call detail. financial Alexis? results in go the

Alexis Wallace

Thank you, Craig.

income the For $X,XXX,XXX December from the for $X,XXX,XXX Company increased for attributable to first decreased to XXXX. for XXXX quarter Gamma to of the X.X% XXXX and the XXXX, in of compression XX.X% the quarter or equity the enacted Revenues Fourth $X.XX third of of fourth per Orlando for the installed in $X,XXX,XXX increased and benefit therapy of rental quarter per deferred XXXX. XXXX. from of to basic tax the the securities quarter federal the the proton quarter attributable $XXX,XXX attributable federal for fourth income the to ended liability, an compared was of to services three Company revaluation for $X,XXX,XXX tax $X.XX $XXX,XXX. months $X,XXX,XXX write-down XXXX, fourth to and net investment income XXXX increased In recently services $XXX,XXX legislation revenue Company's tax to fourth diluted the income the $X,XXX,XXX quarter compared the compared share. medical with state of of fourth to compared diluted Company's and Company's XX.X% XX, $X,XXX,XXX medical income of operations Company's Knife or revenue system quarter rental includes quarter was X.X% full Net for to share. This following

announced, previously of at in August one expiration unit XXXX. and Knife XXXX lost the its second contract a to end term of AMS its April As unit Gamma due the of

two quarter the in began new two that revenue mentioned, in and was Peru third these Nebraska decrease partially from sites sites in revenue from offset operations the Craig As by XXXX.

contract statements rental quarter gross fourth an revenue of or the margin two cost two Company’s compared margin consistent gross XXXX fourth maintenance from Orlando Rental sites for down Excluding XX.X% revenue, of tax with certain the Company's net XXXX. of one-time fourth on reconciliation service $X,XXX,XXX to fourth XX% primarily launch This XXXX. Gamma the of of sites, expenses GAAP adjusted income system or income of Company’s Please Non-GAAP service press and non-GAAP release loss Gamma income the fourth Peru. associated quarter medical investment decreased attributable after-tax a services of revenue $XXX,XXX. from in quarter a new the net quarter fourth of in XXXX to the the securities was the Knife in for with benefit reform $X,XXX,XXX of non-GAAP the of net whose included financial equity the and for write in XXXX of Company's of expired the the services of in fourth for for adjusted this for and income, increase $X,XXX,XXX and XXXX. refer with the Adjusted $XXX,XXX quarter XXXX was medical EBITDA This the to was cost for to XXXX. the of the revenue initiation quarter measures. quarter Knife of compared $X,XXX,XXX to proton of for financial compared to non-GAAP reflected from

$XX,XXX,XXX to increased to XXXX income December compared XX, from XX services XX.X% X.X% increased to for for $X,XXX,XXX months of XXXX. income $XX,XXX,XXX medical services XXXX. from rental therapy rental Proton ended $X,XXX,XXX the for to compared medical revenue XXXX, For

new August non-GAAP Company expiration XXXX net contract for attributable due of $XXX,XXX Excluding consistent Gamma Net to to XXXX. XXXX, for $X,XXX,XXX of for terms compares per This to measure, was XXXX attributable their the financial $X.XX for Company's and two per basic $XX,XXX,XXX Company Knife EBITDA, diluted the $XX,XXX,XXX treatments to April $X.XX a or XXXX income income XXXX. XXXX and basic was the and diluted the XXXX Adjusted with share. or at compared and share. sites, customer site in lost to was revenue for

Finally December $XX,XXX,XXX XX, XXXX, was on and December to $X,XXX,XXX at per Shareholders’ compared XXXX outstanding XX, or outstanding This or equity $XX,XXX,XXX $X.XX the XX, December balance $X.XX $X,XXX,XXX of per XXXX cash share. was sheet, cash share. at shareholders’ equity Craig? equivalents compares December XXXX. at XX, to at

Craig Tagawa

we you, are Thank for Alexis. question. Sylvia, first the ready

Operator

you. Thank

And question the from first We will the Company. Lenny comes session Dunn [Operator question-and-answer Mutual from now begin Trust Instructions].

Lenny Dunn

very lack some I over the open of Book hope to finally now And really would being I to $X.XX go. little value the that's XX% contract signed, is make a to growth. earnings going proton market. in and seeing start earnings right for we're we're attributed going of that showing growth nice it because

So are something than getting getting call we closer we were last to the signed? conference

Dr. Ernest Bates

for As you know, more hospitals year. we hopefully have we and country within the hospitals and been three are the with several will signed-up things particularly get promising, negotiating moving across

Lenny Dunn

by than we conference Would next them it's that? you going of the or think think signed one have would maybe to longer take you call

Dr. Ernest Bates

than that. longer I think a little bit

to found need service problem As this last under month. getting I you coming very is and financing. had they've in model provide construction, land the and has and this happened that funding will hospital the and the for of trouble we think our the the recall, that promising hospital, have so is now fund up But the that part

Lenny Dunn

many getting operation tenant, have to that's only one Knife out. to real fairly and maybe by couple least we soon at sign of end can so sign-up a but don’t very is need year, that of there then the We one more and continue Peru to looks steady going revenue could like produce is if time And like though, you it looks Gamma the revenue. the

be under as but the all now? SG&A than growth problems of going any disappoint But have you other come that is I higher the better have it’ll shouldn’t control proton, know. a question to it's like we be have that is So seems only from it with Will bit little and the still. to

Dr. Ernest Bates

of. to now. costs we organizational in I the -- we the significant of Yes, care had down had at think that year take things settling some it had beginning We’ve some

we we’re conscious legal be Lenny. cost saying looking basis we very us. to behind So and understand And a what And significant going expenses. consistent more you’re had those on and forward, some we’re are

Lenny Dunn

from. I next a contract least hope statement call. the that the But at forward growth am by so, encouraged while, seeing beam certainly necessarily your by you I signed, proton to come obviously for looking conference expected not because where will that’s relatively another And a as

Operator

at no this time. have further We questions

Craig Tagawa

quarter I’d we Well, just like you us And May. look thank in first with speaking this Okay. our joining call conference afternoon. for on to to forward everyone

Dr. Ernest Bates

forward. else nothing future, than to look have we’re very good do that going I Well, about encouraged the add things other to

Operator

participating. gentlemen. and for This today’s conference. you ladies Thank concludes you, Thank

You may now disconnect.

American Shared Hospital Services (AMS) 26 Mar 182017 Q4 Earnings call transcript