The Michigan-based company posted a net loss of -$275k, or -1¢ per share, on sales of $17.6 million for the three months ended Dec. 31. Sales were down 7% compared to the same period last year.
For the full year, InfuSystem reported a net loss of -$1.1 million on sales of $67.1 million. Sales for 2018 were down -5.5% compared to 2017.
InfuSystem significantly reeled in its net losses in Q4 and FY18 compared to the same periods in 2017, posting a 98.5% and 94.7% decrease in net losses, according to the company.
“I am pleased to announce that our improved efficiencies and strategic initiatives continue to favorably impact our financials. We will continue working to improve our operations in 2019, with emphasis on managing our pump utilization, improving logistics, and managing our expenses. This, along with an initiative to improve our revenue cycle management practices, should continue the positive trend in cash generation into 2019,” CEO Richard DiIorio said in prepared remarks.
“The InfuSystem team will continue the company’s agenda of superior patient care and customer service into the new fiscal year. This, we believe, will help to drive significant market share gains in our core oncology business and customer adoption of our new InfuSystem Mobile patient-care application,” DiIorio added.
INFU shares were trading at $4.26 apiece today in mid-morning activity, up 2.6%.