Financials

v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 76 $ 3,398
Accounts receivable, less allowance for doubtful accounts of $6,189 and $4,989 at June 30, 2017 and December 31, 2016, respectively 11,547 11,581
Inventory 1,962 2,166
Other current assets 1,314 949
Deferred income taxes 0 2,675
Total Current Assets 14,899 20,769
Medical equipment held for sale or rental 1,289 1,642
Medical equipment in rental service, net of accumulated depreciation 25,715 28,036
Property & equipment, net of accumulated depreciation 1,815 1,997
Intangible assets, net 28,293 31,239
Deferred income taxes 16,638 12,436
Other assets 61 225
Total Assets 88,710 96,344
Current Liabilities:    
Accounts payable 5,247 5,315
Capital leases 593 2,938
Current portion of long-term debt 2,660 5,314
Other current liabilities 2,494 2,872
Total Current Liabilities 10,994 16,439
Long-term debt, net of current portion 28,719 26,577
Capital leases 238 2,573
Other long-term liabilities 61 66
Total Long-Term Liabilities 29,018 29,216
Total Liabilities 40,012 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 22,953,365 and 22,755,705, respectively, as of June 30, 2017 and 22,867,335 and 22,669,675, respectively, as of December 31, 2016 2 2
Additional paid-in capital 92,206 91,829
Retained deficit (43,510) (41,142)
Total Stockholders' Equity 48,698 50,689
Total Liabilities and Stockholders' Equity $ 88,710 $ 96,344
v3.7.0.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Net revenues:        
Rentals $ 14,769 $ 16,242 $ 29,906 $ 32,730
Product Sales 2,173 1,881 4,690 3,687
Net revenues 16,942 18,123 34,596 36,417
Cost of revenues:        
Cost of revenues - Product, service and supply costs 4,624 4,789 9,160 8,295
Cost of revenues - Pump depreciation and disposals 1,977 2,191 4,446 4,422
Gross profit 10,341 11,143 20,990 23,700
Selling, general and administrative expenses:        
Provision for doubtful accounts 1,326 1,067 3,182 2,814
Amortization of intangibles 1,387 922 2,798 1,834
Selling and marketing 2,295 2,324 5,181 5,139
General and administrative 6,425 6,392 12,890 13,061
Total selling, general and administrative 11,433 10,705 24,051 22,848
Operating (loss) income (1,092) 438 (3,061) 852
Other income (expense):        
Interest expense (333) (327) (661) (632)
Other (expense) income (66) 7 (103) 27
Total other expense (399) (320) (764) (605)
(Loss) income before income taxes (1,491) 118 (3,825) 247
Income tax benefit (expense) 385 35 1,241 (53)
Net (loss) income $ (1,106) $ 153 $ (2,584) $ 194
Net (loss) income per share:        
Basic $ (0.05) $ 0.01 $ (0.11) $ 0.01
Diluted $ (0.05) $ 0.01 $ (0.11) $ 0.01
Weighted average shares outstanding:        
Basic 22,740,050 22,620,386 22,710,470 22,584,462
Diluted 22,740,050 23,109,870 22,710,470 23,069,900
v3.7.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Statement of Cash Flows [Abstract]    
NET CASH PROVIDED BY OPERATING ACTIVITIES $ 1,231 $ 1,869
INVESTING ACTIVITIES    
Purchase of medical equipment and property (1,893) (7,187)
Proceeds from sale of medical equipment and property 2,623 1,827
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 730 (5,360)
FINANCING ACTIVITIES    
Principal payments on revolving credit facility, term loans and capital lease obligations (24,419) (29,190)
Cash proceeds from revolving credit facility 19,105 32,575
Debt issuance costs (28)  
Common stock repurchased to satisfy statutory withholding on employee stock based compensation plans (28) (33)
Cash proceeds from stock plans 87 126
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES (5,283) 3,478
Net change in cash and cash equivalents (3,322) (13)
Cash and cash equivalents, beginning of period 3,398 818
Cash and cash equivalents, end of period $ 76 $ 805