Financials

v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 194 $ 3,398
Accounts receivable, less allowance for doubtful accounts of $5,928 and $4,989 at March 31, 2017 and December 31, 2016, respectively 12,079 11,581
Inventory 2,135 2,166
Other current assets 1,304 949
Deferred income taxes 0 2,675
Total Current Assets 15,712 20,769
Medical equipment held for sale or rental 1,371 1,642
Medical equipment in rental service, net of accumulated depreciation 26,896 28,036
Property & equipment, net of accumulated depreciation 1,914 1,997
Intangible assets, net 29,633 31,239
Deferred income taxes 16,196 12,436
Other assets 171 225
Total Assets 91,893 96,344
Current Liabilities:    
Accounts payable 4,902 5,315
Capital Leases 2,715 2,938
Current portion of long-term debt 30,369 5,314
Other current liabilities 2,127 2,872
Total Current Liabilities 40,113 16,439
Long-term debt, net of current portion   26,577
Capital Leases 2,122 2,573
Other long-term liabilities 24 66
Total Long-Term Liabilities 2,146 29,216
Total Liabilities 42,259 45,655
Stockholders' Equity:    
Preferred stock, $.0001 par value: authorized 1,000,000 shares; none issued 0  
Common stock, $.0001 par value: authorized 200,000,000 shares; issued and outstanding 22,885,824 and 22,688,164, respectively, as of March 31, 2017 and 22,867,335 and 22,669,675, respectively, as of December 31, 2016 2 2
Additional paid-in capital 92,036 91,829
Retained deficit (42,404) (41,142)
Total Stockholders' Equity 49,634 50,689
Total Liabilities and Stockholders' Equity $ 91,893 $ 96,344
v3.7.0.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Net revenues:    
Rentals $ 15,137 $ 16,488
Product Sales 2,517 1,806
Net revenues 17,654 18,294
Cost of revenues:    
Cost of revenues - Product, service and supply costs 4,536 3,506
Cost of revenues - Pump depreciation and disposals 2,469 2,231
Gross profit 10,649 12,557
Selling, general and administrative expenses:    
Provision for doubtful accounts 1,856 1,747
Amortization of intangibles 1,411 912
Selling and marketing 2,886 2,815
General and administrative 6,465 6,669
Total selling, general and administrative 12,618 12,143
Operating (loss) income (1,969) 414
Other (expense) income:    
Interest expense (328) (305)
Loss on extinguishment of long term debt 0  
Other (expense) income (37) 20
Total other expense (365) (285)
(Loss) income before income taxes (2,334) 129
Income tax benefit (expense) 856 (88)
Net (loss) income $ (1,478) $ 41
Net (loss) income per share:    
Basic $ (0.07) $ 0.00
Diluted $ (0.07) $ 0.00
Weighted average shares outstanding:    
Basic 22,680,562 22,548,538
Diluted 22,680,562 23,039,256
v3.7.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Statement of Cash Flows [Abstract]    
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES $ (1,442) $ 337
INVESTING ACTIVITIES    
Purchase of medical equipment and property (1,015) (3,274)
Proceeds from sale of medical equipment and property 1,525 884
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 510 (2,390)
FINANCING ACTIVITIES    
Principal payments on revolving credit facility, term loans and capital lease obligations (6,413) (15,369)
Cash proceeds from revolving credit facility 4,099 17,081
Debt issuance costs (25)  
Common stock repurchased to satisfy statutory withholding on employee stock based compensation plans (20) (33)
Cash proceeds from stock plans 87 125
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES (2,272) 1,804
Net change in cash and cash equivalents (3,204) (249)
Cash and cash equivalents, beginning of period 3,398 818
Cash and cash equivalents, end of period $ 194 $ 569