InfuSystem reports Q1 EPS (2c), consensus (3c)

Reports Q1 revenue $26.8M, consensus $25.93M. CEO Richard DiIorio, said, "Our Q1 results came in as planned with revenue growth of 9% to $26.8M vs. the same prior year period. The top line was driven by our core business, oncology, with ITS growth of 5% to $16.6 million and DME growth of 18% to $10.1M. Additionally, our operating cash flow for Q1 increased by 54% to $4.1M compared to the same prior year period, demonstrating the strong cash flow nature of our business. Our team continues to deliver high service levels through the challenges of another wave of the COVID-19 pandemic, which was widespread in the healthcare industry and affected our operational results in January and February. We are building momentum for another record year in 2022, as we announced a significant milestone last week in a press release with the signing of a three-year master service agreement with a leading global healthcare technology and diagnostic company...We currently estimate that this acute care service opportunity for our DME business could potentially generate approximately $10M-$12M in annual revenue after the initial ramp-up period...Looking forward, we are estimating full-year 2022 revenue growth to be in the range of 15% to 20%. We believe that InfuSystem is a stronger company today than it was a year ago, as we are leveraging our unique skills in building the company into a leading health care service provider and expanding our market opportunities into acute care. We believe that our two service platforms, ITS and DME, are well-positioned for long-term success in facilitating clinic-to-home care. Furthermore, we are relentlessly focused on executing our strategic plan to deliver sustainable double-digit top-line growth for years to come".