First Choice Healthcare Solutions reported its first-quarter financial results for the three-month period ended March 31, 2013, reflecting a sales increase of 15 percent and rise of 475 percent in EBITDA on a sequential basis.
"We are extremely pleased with our 2013 first quarter financial and operational results," Chris Romandetti, CEO of First Choice Healthcare, stated in the press release. "Unlike many other healthcare business models, ours is designed to offer a more synergistic and profitable medical service mix."
Revenues for the quarter were $1.4 million, an increase of 324 percent compared to revenues of $330,216 reported for the comparable quarter of the year prior. The company attributes the increase primarily to its acquisition of First Choice Medical Group of Brevard, LLC.
Net income from operations increased to $98,808, as compared to a net loss from operations of $99,190 for the first quarter of 2012.
Net loss decreased by 8.5 percent to $255,069, or a loss of $0.02 per share, as compared to a net loss of $204,409, or a loss of $0.02 per share, for the first quarter of 2012.
EBITDA increased 475 percent to $282,178 for the three months ended March 31, 2013, compared to $49,030 for the period ended December 31, 2012.
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