ELITE Diagnostic Reports Highest Quarterly Profit In Over A Year – Mar 2021

• Revenue for the 3rd quarter was $129.5 Million vs $111.4 Million last year – a 16% jump.
• Net profit for the quarter was $4.4 Million vs a loss of $2.1 Million last year.
• Company was able to do a lot better this quarter due to
  1. the growth in sales and
  2. improved gross margins. 66.9% this quarter vs 65.3% last year

For The 9 Months

• Revenue for the 9 months ended March 31, 2021 was $365.6 Million compared to $347.3 Million the previous year.
• Loss of $2.9 Million as compared to a profit of $19.1 Million the previous year.

Balance Sheet

• Total Assets were $690.3 Million compared to $687.3 Million the previous year.
• Total Liabilities were $233.5 Million compared to $217 Million the previous year.
  

Management Says

Covid-19 continues to negatively impact their revenues with shorter operational hours and reduced Interventional Procedures.

Demand for imaging services continues to remain robust.

Challenges still persisted at their Drax Hall location with their two main revenue drivers, MRI and CT. The company enlisted overseas expertise and currently, all modalities are operational at the Drax Hall location.

The company feels it has moved past the year long challenges of the MRI and CT. Ultrasounds, X-ray and the Doctor Offices at the Drax Hall location are growing steadily.