American Shared Hospital Services (AMS) has reported 63.18 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $0.45 million, or $0.08 a share in the quarter, compared with $0.28 million, or $0.05 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $0.45 million, or $0.08 a share compared with $0.30 million or $0.05 a share, a year ago. Revenue during the quarter grew 21.58 percent to $5.06 million from $4.16 million in the previous year period. Gross margin for the quarter expanded 1113 basis points over the previous year period to 55.87 percent. Total expenses were 71.38 percent of quarterly revenues, down from 82.44 percent for the same period last year. This has led to an improvement of 1105 basis points in operating margin to 28.62 percent.
Operating income for the quarter was $1.45 million, compared with $0.73 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $2.88 million compared with $2.34 million in the prior year period. At the same time, adjusted EBITDA margin improved 63 basis points in the quarter to 56.86 percent from 56.22 percent in the last year period.
Chairman and chief executive officer Ernest A. Bates, M.D., said, "2016 was an excellent year for AMS. Our first proton center began treating patients in April and, not coincidentally, net income for the year was the highest since 2007. We are excited by the opportunities before us.
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