American Shared Hospital Services (AMS) has reported 676.74 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $0.33 million, or $0.06 a share in the quarter, compared with $0.04 million, or $0.01 a share for the same period last year.
Revenue during the quarter grew 26.04 percent to $4.88 million from $3.88 million in the previous year period. Gross margin for the quarter expanded 1154 basis points over the previous year period to 49.06 percent. Total expenses were 81.65 percent of quarterly revenues, down from 91.87 percent for the same period last year. This has led to an improvement of 1022 basis points in operating margin to 18.35 percent.
Operating income for the quarter was $0.90 million, compared with $0.32 million in the previous year period.
Chairman and chief executive officer Comments
Chairman and chief executive officer Ernest A. Bates, M.D., said, "We are pleased by our third quarter performance. AMS is running increasingly efficiently, our Gamma Knife business is delivering solid results, and our proton therapy initiatives, so long in the making, are now beginning to generate the growth we are striving for.
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