American Shared Hospital Services Reports 18% Period-over-Period Increase in Third Quarter 2022 Revenue to $4.8 Million
SAN FRANCISCO, CA, Nov. 10, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- American Shared Hospital Services (NYSE American: AMS) (the "Company"), a leading provider of turnkey technology solutions for stereotactic radiosurgery and advanced radiation therapy equipment and services, today announced financial results for the third quarter and nine months of fiscal 2022, ended September 30, 2022.
- The gross margin percentage expanded 470 basis points to 40.5% of revenue compared to 35.8% for the third quarter of 2021.
- Operating income for the third quarter of 2022 was $448,000 compared to operating income of $186,000 in the third quarter of 2021, an increase of 140.9%.
- Adjusted EBITDA, a non-GAAP financial measure, was $1,999,000 for the third quarter of 2022, compared to $1,562,000 for the third quarter of 2021, an increase of 28.0%.
- Cash at September 30, 2022 was $11,664,000, an increase of $3,401,000 from the December 31, 2021 balance of $8,263,000.