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InfuSystem Holdings, Inc. (AMEX:INFU) Q1 2024 Earnings Call Transcript

Insider Monkey Transcripts
·2-min read

InfuSystem Holdings, Inc. (AMEX:INFU) Q1 2024 Earnings Call Transcript May 11, 2024

InfuSystem Holdings, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).

Aaron Warwick:

Operator: Good morning, ladies and gentlemen, and welcome to the InfuSystem First Quarter 2024 Financial Results Conference Call. I will now turn the program over to Joe Dorame.

An oncology center with medical staff operating infusion pumps in the background.
An oncology center with medical staff operating infusion pumps in the background.

Joe Dorame : Good morning, and thank you for joining us today to review InfuSystem's First Quarter 2024 financial results ended March 31, 2024. With us today on the call are Rich Dilorio, Chief Executive Officer; Barry Steele, Chief Financial Officer; and Carrie Lachance, President and Chief Operating Officer. After the conclusion of today's prepared remarks, we will open the call for questions. Before we begin with prepared remarks, I would like to remind everyone certain statements made by the management team of InfuSystem during this conference call constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Except for the statements of historical fact, this conference call may contain forward-looking statements that involve risks and uncertainties and some of which are detailed under risk factors and documents filed by the company with the Securities and Exchange Commission, including the annual report on Form 10-K for the year ended December 31, 2023.

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Forward-looking statements speak only as of the date the times were made. The company can give no assurance except forward-looking statements prove to be correct. InfuSystem does not undertake and specifically disclaims any obligation to update any forward-looking statements, except as required by law. Now I'd like to turn the call over to Rich Dilorio, Chief Executive Officer of InfuSystem. Rich?

Rich Dilorio : Thank you, Joe, and good morning, everyone. Welcome to InfuSystem's First Quarter 2021 Earnings Call. Thank you all for joining us today. I'll get things started this morning with a quick overview of how we started the year. Barry will go into detail on our financial results for the first quarter, and then Carrie will provide updates on our Biomed Wound Care programs. I'll conclude our prepared remarks with a discussion of how our growth strategy has evolved over the last couple of years, and the types of opportunities we are seeing and intend to pursue in the future. First quarter revenue was $32 million and represented the ninth quarter out of the last 11 that delivered a sequential increase in revenue. Our results were driven by continuing strength in our Device Solutions business unit, which was up 16% year-over-year with both biomedical services and equipment sales being strong contributors.

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To continue reading the Q&A session, please click here.