BioScrip’s earnings decline

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Thursday, March 8, 2018

DENVER – BioScrip reported net revenues of $182.6 million for the fourth quarter of 2017, down from $198.7 million in the third quarter. Net loss from continuing operations was $1.2 million, compared to $12.4 million. The company’s core product mix stayed steady at 75.5%. Adjusted EBITDA was $16.8 million for the fourth quarter, compared to $45 million for the same quarter in 2016. Net revenue for the year was $817.2 million; net loss was $61.3 million, compared to $34.4 million in 2016. Core product mix was 73.8%, compared to 63.3% in 2016. “BioScrip concluded 2017 with strong fourth quarter financial results, delivering significant year-over-year increases in core revenue mix, gross profit margin, adjusted EBITDA and cash provided by operating activities," said Daniel Greenleaf, president and CEO. "Our fourth quarter adjusted EBITDA of $16.8 million, a record amount, indicates our turnaround plan is working. We look forward to more progress in 2018, growing our core business and expanding our profitability, while making select investments in people, technology, and infrastructure setting up BioScrip to have a break out year in 2019.”