AMS - Earnings call transcript Q1 2019 | American Shared Hospital Services

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Operator

Good afternoon, everyone, and welcome to the First Quarter March 31, 2019, Financial Results Conference Call for American Shared Hospital Services. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions] I will now turn the call over to Vivian Cervantes with Investor Relations.

Vivian Cervantes

Thank you, operator.

over remarks I concerning call make like the following the forward-looking turning to would management, to Before statements. prospects future Please we note purposes Securities plans of about the provisions for XXXX. Litigation may that company and expectations, Private make on safe forward-looking that this conference the various statements for the remarks Reform under of constitute harbor call Act be discussed statements in from Form on as XX, vary ended company’s annual results materially those factors, the the indicated held and including these company’s important may proxy XX, December the those result a June XX-K with Annual statement forward-looking the of filings to year the SEC, for XXXX. various Actual of by Meeting XXXX, definitive for including the on report Shareholders obligation The update company contained the call. conference in no to assumes this information turn to now call would I the to like over Dr. Bates, Ernest Executive Officer. and Chairman Chief

Ernest Bates

on afternoon, XXXX for with And Vivian. call us the you, call. conference earnings our good today, joining to Thank you thank first those and quarter

Craig review; will through for Controller, afternoon Officer will questions. Officer, Our agenda operational Financial and that, following our as walk call Operating Chief Tagawa, business provide financial then Alexis is Wallace, our will results; open and our the and we our this your follows:

in the Center We is business. three the We traction, Icon a Peru, in Gamma show of combined treatment to at early to are in XX opened which it recent, and gains Knife pleased transition, least months, upgrade our look spending of at To centers the procedures Kettering next enter to program while most our report Nebraska, months market relatively still with sequential that with Indiana, for tumor business in signs incremental to Ohio. quarter. revenues Medical gains X in to our us, during forward in the the units appears in first our of begin large the

our replicating new advance in unit. we turn includes Craig. upgrade conversations over continue We into in see we HYPERSCAN With systems therapy. success remain proton business to of now markets, pipeline. two the active call to Orlando to the that, place let me Turning that to our to proton This intend

Craig Tagawa

thank Good us. Bates. afternoon, Dr. joining everyone, and you, you for Thank

reports fractions patients therapy with generate across quarter’s are to XXX Orlando steady period. continues in indications volume revenue report quarter. growth, revenue to compared treat business fractions, was led fractions proton year-ago proton Our the continues to we increase nearly pleased during Health the gains. XX% first the performance and a in with quarter X,XXX to the XX% by which up Orlando increases or Health

Gamma to Knife. Turning the

us our plan the to opportunities. units larger at in next Knife revenue three continue While total Knife procedures transition to to of incremental we normalize. opening as up in further XXX comparable certain X%. Dr. improvement quarter fourth XXXX remain as we an January note we procedures quarter saw On in We centers, with turnover saw procedure the sequential of Indiana XXX X center. improvement fourth months, Icon softness the year Gamma for least to or XXXX, we in by Gamma we XX X% with in to XXXX upgrade by months first declined support tumors And new allowing volume to in procedures a year-over-year also the from mentioned, versus optimistic some Merrillville, of basis, the sequential quarter sites volumes to clinical XX at period. Bates target another or as

Alexis the financial our expect completion call Icon upgrade in a in at Center to of over detailed will of Kettering Ohio for to I XXXX. Medical continue the discussion. half turn We second

Alexis Wallace

Good Craig. Thank afternoon. you,

issued Before attention call to XXXX results first our earnings this your to like quarter I’d my I begin morning. prepared remarks,

increased revenues X.X% For $X,XXX,XXX the XXXX, three the compared quarter to March to XXXX. revenues for of of $X,XXX,XXX months first ended XX,

measure, of XXXX, XX, XXXX quarter share. Shareholders’ and you XXXX presentation. for formal outstanding the quarter of to margin margin This of Florida call first the first XX.X% compared a was Net to for $XXX,XXX we March to to was restricted company’s quarter in XXXX, outstanding share. XX.X% for revenue for XX, $X,XXX,XXX XX, XXXX. per December or April Orlando or of of at the was quarter $XX,XXX,XXX over $X,XXX,XXX like the of for first at cash January per our cash equity the The decreased $X.XX Health income to system contracts to to or of Paulette, of March the decreased $X.XX to an turn was for equity Knife part to initial for $X,XXX,XXX or and for This quarter First in in first primarily This first quarter the maintenance of $XX,XXX,XXX $X,XXX,XXX expiration and share. to $X,XXX,XXX. the of $X.XX shareholders’ operating XXXX, XXXX operations customer X.X% equivalents costs, therapy XXXX Company’s XX.X% concludes to compares to net expense. proton per at revenue first XXXX of would depreciation Gamma increase at the compared financial for for XXXX the quarter quarter revenue X compares XXXX quarter income $XXX,XXX questions. of $X,XXX,XXX At for This back quarter cash, per first Revenue $X.XX share. the XXXX. of installed of $X,XXX,XXX increased or EBITDA, gross compared the decline of of the XXXX. $X,XXX,XXX reflected XX, of Adjusted $X,XXX,XXX first compared non-GAAP revenue for $X,XXX,XXX the compared XXXX. first XXXX. or December to Gross due was

Operator

Thank you.

We will Instructions] a Dunn do Company. the begin ahead. [Operator from session. Lenny Trust now from we go have question And question-and-answer Mutual Please

Lenny Dunn

afternoon. Good Yes.

Ernest Bates

Good afternoon, Lenny.

Lenny Dunn

expected little and again certainly imminent. was we to hearing imminent I exactly I numbers But very keep we don’t Yes. profitable. be, is that proton now? beam disappointed as mean, signing. and am a it up value, it’s I look book them it Hi, bit the a still have the And Gamma was Knife

Ernest Bates

think This Bates. it is, Lenny. Dr. is I

We with a in a down now have plans hospital and machine at in San a Beach, a there. negotiations in Southern we our California to are in hospital unit proton to place place Long Francisco, hometown,

contracts. I the are these in two well. think placements announce things Hopefully, future, going near we’ll and

Lenny Dunn

keeps be Well, these one think dangling signed by quarter great. we’re of and us. in going at that would the very do out you least it But each in of front to get But goes realistically near-term?

Ernest Bates

Yes.

Lenny Dunn

territory. if these in, unit Orlando will? certainly door any put that mean made somebody another And next convincing to they Okay. don’t people have in in we in that else but don’t progress them their I

Craig Tagawa

Yes.

about about have talking But We’re it second unit and them. been put trying in. timetable nothing them a with concrete, we There’s there talking is to to this point. at no

Ernest Bates

is we And this protons. to the the one I most believe substantiates said, have single I think systems proton this Lenny, probably room successful in doing very what with single-room go was the way of that well. world. They’re the

Lenny Dunn

competition. and the being part is No themselves. they question wake get prevent put very question up one another I And that to numbers successful. for speak why in it. don’t about the don’t And No on

Craig Tagawa

Yes.

no there’s nothing this them, We’re at in timetable is – with point. there discussions but concrete

Lenny Dunn

you some Long has Okay. anyhow, to we’re signed. that time That’s to been what mentioned for that very you you out last Beach there having the now, thought one said. dangling with But call close

we an So soon. hope can I see announcement

another again, sign share the do beam. proton Okay. price, to you I But But up wake business you’ve successful. got the is think want to

Ernie Bates

is, Lenny, this is to a long the Ernie we’ve fact, for project, that having Bates. the it respect Long Beach, been With period in about developing Beach Long discussions true facility there. potential single-room a

with parties fruition. a to bring and we’re hospital working identified have this to several potential We partner, new project

Operator

showing further questions. I’m remarks. Dr. And for turn back I’ll now the Bates closing no call to

Ernest Bates

Gamma afternoon. this thank two post continue for dialogue you therapy remain now to relatively improvement gaining with to to and Health. replicating we pipeline, systems our upgrades our proton operations markets, again centers look including three strength, in to at for Well, new success new HYPERSCAN we Orlando seen active In incremental summary, place joining business of plan in we steady, advance In traction. us Knife,

in on revenue Medical XXXX, is in XX allowing complete of first incremental at to opportunities Kettering in planned We look on Medical second upgrade call the Ohio capture schedule to in half to to least us remains tumors. months. three forward of our Kettering large speaking the the Icon with you months August. next upgrades XXXX X its in conference quarter second Finally,

Operator

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

American Shared Hospital Services (AMS) 11 May 192019 Q1 Earnings call transcript