Company Reports 6 Month Revenue of
$7,941,229 and EBITDA of $6,201,229 USD
/NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION,
DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR
IN PART, IN OR INTO THE UNITED
STATES./
PARKER, CO, Aug. 22, 2017 /CNW/ - Assure Holdings Corp. (the
"Company" (TSXV: IOM, OTCQB: ARHH), announces today the financial
and operating results for the 3 and 6 months ended June 30, 2017. The Company's quarterly Financial
Statements and MD&A can be found at
www.sedar.com.
Assure Holdings Corp. reports:
- Record Quarterly Operating Revenue of over $4,026,440 USD
- Record Revenue of $7,941,229 USD
for the 6 months ended June 30,
2017
- Q2 Net Income of $2,178,363
USD
- Net Income of $5,391,160 USD for
the 6 months ended June 30, 2017
- Multi-State expansion underway
Preston Parsons, the Chief
Executive Officer and Founder of the Company said of the
announcement, "We're very pleased with our performance in Q2.
We were able to complete our qualifying transaction during the
quarter and commenced trading on May
29th, while at the same time we continued to grow
the business. With nearly a million dollars of transaction
related expenses, the company would of had significantly higher net
income in Q2. With the rigorous going public process now
behind us, we've been able to fully focus on expanding our business
and continue to create value for our shareholders. We're very
enthusiastic as to the direction of the company and look forward to
current expansion initiatives planned for the balance of this year
and beyond."
Highlights of the Financial Results for the 3 and 6 months
ended June 30 Include: (Reported in
USD)
|
2017
|
2016
|
|
3
mo
|
6
mo
|
3
mo
|
6
mo
|
Operating
Revenue
|
$
|
4,026,440
|
$
|
7,941,229
|
$
|
834,521
|
$
|
834,521
|
Income from Equity
Method Investments
|
$
|
550,454
|
$
|
1,456,251
|
$
|
(23,119)
|
$
|
308,695
|
Earnings from
Operations
|
$
|
2,033,553
|
$
|
4,757,142
|
$
|
652,034
|
$
|
641,659
|
Income Before
Taxes
|
$
|
2,578,521
|
$
|
6,190,615
|
$
|
627,099
|
$
|
948,538
|
Net Income
|
$
|
2,167,306
|
$
|
5,380,103
|
$
|
627,099
|
$
|
948,538
|
Basic EPS
|
$
|
.08
|
$
|
.19
|
$
|
.04
|
$
|
.12
|
Fully Diluted
EPS
|
$
|
.07
|
$
|
.17
|
$
|
.04
|
$
|
.12
|
Matthew Willer, Assure's
President commented, "This quarter was very strong from both a top
and bottom line perspective. The Company executed very well
and delivered record quarterly revenue. As we enter into the
busiest season, our team shares a level of focus, drive, and
confidence that is very powerful. Market acceptance of the Assure
platform continues to be extremely strong, and we look forward to
sharing our operational highlights in today's conference call."
Assure will be holding it's inaugural quarterly results
conference call on Aug.
22nd at 4:30
ET. Dial in instructions are as follows:
Dial in: 1-888-899-5068 (US/Canadian Toll Free) or
1-719-325-2295
Conference ID: 7666998
A transcript of the call will be available on the Company's
website, www.AssureIOM.com following the conference call.
About Assure Holdings Corp.
Assure Holdings Corp. is
a Colorado based company, incorporated in the State
of Nevada, that works with
neurosurgeons and orthopedic spine surgeons to provide a turnkey
suite of services that support intraoperative neuromonitoring
activities during invasive surgeries. Assure: (i) employs its
own staff of technologists and uses its own state of the art
monitoring equipment, (ii) handles 100% of intraoperative
neuromonitoring scheduling and setup, and (iii) bills for all
technical services provided. While Assure focuses primarily
on supporting spinal surgeries, plans are in place to support other
classes of medicine that rely on the standard of care that
intraoperative neuromonitoring provides.
Investors are cautioned that, except as disclosed in the
Filing Statement any information released or received with respect
to the reverse take-over may not be accurate or complete and should
not be relied upon. Trading in the securities of the
Corporation should be considered highly speculative.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
The securities of the Corporation have not been and will
not be registered under the United States Securities Act of 1933,
as amended and may not be offered or sold in the United
States absent registration or an applicable exemption from the
registration requirement. This press release shall not constitute
an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION: This news release contains certain statements that
may constitute forward-looking information under applicable
securities laws. All statements, other than those of historical
fact, which address activities, events, outcomes, results,
developments, performance or achievements that Assure anticipates
or expects may or will occur in the future (in whole or in part)
should be considered forward-looking information. Such information
may involve, but is not limited to, comments with respect to
strategies, expectations, planned operations and future actions of
the Corporation. Often, but not always, forward-looking information
can be identified by the use of words such as "plans", "expects",
"is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "believes" or variations (including
negative variations) of such words and phrases, or statements
formed in the future tense or indicating that certain actions,
events or results "may", "could", "would", "might" or "will" (or
other variations of the forgoing) be taken, occur, be achieved, or
come to pass. Forward-looking information is based on currently
available competitive, financial and economic data and operating
plans, strategies or beliefs as of the date of this news release,
but involve known and unknown risks, uncertainties, assumptions and
other factors that may cause the actual results, performance or
achievements of Assure to be materially different from any future
results, performance or achievements expressed or implied by the
forward-looking information. Such factors may be based on
information currently available to Assure, including information
obtained from third-party industry analysts and other third party
sources, and are based on management's current expectations or
beliefs regarding future growth, results of operations, future
capital (including the amount, nature and sources of funding
thereof) and expenditures. Any and all forward-looking information
contained in this Filing Statement is expressly qualified by this
cautionary statement.
SOURCE Assure Holdings Corp.