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21St Century Oncology Holdings, Inc. (RTSX) SEC Filing 10-Q Quarterly report for the period ending Thursday, March 31, 2016

21St Century Oncology Holdings, Inc.

CIK: 1503518 Ticker: RTSX

Exhibit 99.1

 

 

21ST CENTURY ONCOLOGY HOLDINGS, INC.

 

21st Century Oncology Contact:

 

Investor Contact:

LeAnne M. Stewart

 

The Ruth Group

Chief Financial Officer

 

Nick Laudico

239-931-7281

 

646-536-7030

leanne.stewart@21co.com

 

nlaudico@theruthgroup.com

 

 

 

 

 

Brandon Vazquez

 

 

646-536-7032

 

 

bvazquez@theruthgroup.com

 

21ST CENTURY ONCOLOGY HOLDINGS INC. REPORTS FIRST AND SECOND QUARTER 2016 FINANCIAL RESULTS

 

FORT MYERS, FL, September 20, 2016 — 21

st Century Oncology Holdings, Inc. (“21C” or the “Company”), the leading global provider of integrated cancer care (ICC) services, announced today its financial results for the first and second quarters of 2016.

 

First Quarter 2016

 

Total revenues for the first quarter of 2016 were $270.3 million, a decline of 1.9% as compared to total revenues of $275.6 million for the same period in the prior year. Net patient service revenue in our ICC line of business declined $2.9 million, or 3.2%, as compared to the same period in the prior year predominantly due to the conversion of our Jacksonville medical oncology group to a professional services agreement (PSA) with the University of Florida, whereby the Company will invoice for chemotherapy administration only, eliminating the drug portion. In addition, our international net patient service revenue declined $3.3 million, or 12.3%, as compared to the same period in the prior year due to the devaluation in the Argentine Peso. Constant currency international revenue growth was approximately 33.3%, or $7.2 million, quarter over quarter.

 

Net income for the first quarter of 2016 was $2.6 million as compared to a net loss of $14.4 million for the same period in the prior year. The improvement in net income resulted primarily from a $12.6 million gain on the contribution of a radiation facility to a health system joint venture and changes in fair value measurements of $4.7 million.

 

Adjusted EBITDA in the first quarter of 2016 was $39.0 million, or 14.4% of total revenues, as compared to $42.3 million, or 15.3% of total revenues, in the first quarter of 2015. The contributors to the adjusted EBITDA decline were a $5.3 million reduction in revenue offset by a $6.3 million decrease in salaries and benefits. In addition, a net increase in medical supply expense of $1.2 million occurred in the first quarter of 2016 as compared to the first quarter of 2015.  This increase was the result of the expansion of medical oncology in SFRO locations, offset to some degree by a reduction in medical supply cost as a result of converting the

 

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The following information was filed by 21St Century Oncology Holdings, Inc. (RTSX) on Tuesday, September 20, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Operations And Comprehensive Loss
Accrued Expenses
Accrued Expenses (details)
Accrued Expenses (tables)
Accumulated Other Comprehensive Loss, Net Of Tax
Accumulated Other Comprehensive Loss, Net Of Tax (schedule Of Components Of Accumulated Other Comprehensive Loss) (details)
Accumulated Other Comprehensive Loss, Net Of Tax (tables)
Acquisitions And Other Arrangements
Acquisitions And Other Arrangements (narrative) (details)
Basis Of Presentation
Basis Of Presentation (details)
Basis Of Presentation (policy)
Commitments And Contingencies
Commitments And Contingencies (details)
Derivative Agreements
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (schedule Of Changes In Level 3 Liabilities) (details)
Fair Value Of Financial Instruments (schedule Of Fair Value Debt Instruments Based On Level 2) (details)
Fair Value Of Financial Instruments (schedule Of Items Measured At Fair Value On Recurring Basis) (details)
Fair Value Of Financial Instruments (tables)
Goodwill
Goodwill (schedule Of Changes In The Carrying Amount Of Goodwill) (details)
Goodwill (tables)
Income Taxes
Income Taxes (details)
Leverage And Liquidity
Leverage And Liquidity (details)
Long-term Debt
Long-term Debt (narrative) (details)
Long-term Debt (schedule Of Company's Long-term Debt) (details)
Long-term Debt (schedule Of Financial Covenants Compliance Under The Revolving Credit Facility) (details)
Long-term Debt (tables)
Organization
Organization (details)
Other Gains And Losses
Other Gains And Losses (details)
Other Gains And Losses (tables)
Reconciliation Of Total Equity And Noncontrolling Interests
Reconciliation Of Total Equity And Noncontrolling Interests (details)
Reconciliation Of Total Equity And Noncontrolling Interests (tables)
Segment And Geographic Information
Segment And Geographic Information (narrative) (details)
Segment And Geographic Information (schedule Of Financial Information By Geographic Segment) (details)
Segment And Geographic Information (schedule Of Reconciliation Of The Company's Reportable Segment Profit And Loss) (details)
Segment And Geographic Information (tables)
Series A Preferred Stock
Series A Preferred Stock (narrative) (details)
Series A Preferred Stock (schedule Of Changes To Series A Preferred Stock) (details)
Series A Preferred Stock (tables)
Subsequent Events (details)
Ticker: RTSX
CIK: 1503518
Form Type: 10-Q Quarterly Report
Accession Number: 0001104659-16-145688
Submitted to the SEC: Tue Sep 20 2016 3:41:44 PM EST
Accepted by the SEC: Tue Sep 20 2016
Period: Thursday, March 31, 2016
Industry: Offices And Clinics Of Doctors Of Medicine

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