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21St Century Oncology Holdings, Inc. (RTSX) SEC Filing 10-Q Quarterly report for the period ending Friday, September 30, 2016

21St Century Oncology Holdings, Inc.

CIK: 1503518 Ticker: RTSX

Exhibit 99.1

 

 

21ST CENTURY ONCOLOGY HOLDINGS, INC.

 

21st Century Oncology Contact:

LeAnne M. Stewart

Chief Financial Officer

239-931-7281

leanne.stewart@21co.com

 

21ST CENTURY ONCOLOGY HOLDINGS, INC. REPORTS THIRD QUARTER 2016 FINANCIAL RESULTS

 

FORT MYERS, FL, November 14, 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 third quarter of 2016.

 

Third Quarter 2016 Results

 

Total revenues decreased by $16.6 million, or 6.3%, from $262.3 million for the three months ended September 30, 2015 to $245.7 million for the three months ended September 30, 2016.

 

Net patient service revenue in our total domestic freestanding line of business declined $7.3 million, or 4.8%, as compared to the same period in the prior year. This decline was driven by a 1.3% decline in total radiation oncology treatments per day and a 3.6% decline in net patient service revenue per radiation oncology treatment for the third quarter of 2016 as compared to the same period in the prior year.

 

Net patient service revenue in our ICC line of business declined $7.2 million, or 9.0%, as compared to the same period in the prior year.  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, drove $4.6 million of the decline in ICC revenue.

 

International net patient service revenue declined $3.4 million, or 10.7%, as compared to the same period in the prior year due to the devaluation in the Argentine Peso. Excluding the impact of currency fluctuations, international revenue growth was approximately 37.8%, or $8.9 million, quarter over quarter.

 

Net loss for the third quarter of 2016 was $78.5 million as compared to a net loss of $55.2 million for the same period in the prior year. The increase in net loss was the result of a $16.6 million reduction in total revenue, an increase in other gains and losses of $6.2 million, an increase in interest expense of $3.4 million and a $3.0 million increase in provision for bad debt, partially offset by a $5.8 million decrease in salaries and benefits.

 

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The following information was filed by 21St Century Oncology Holdings, Inc. (RTSX) on Monday, November 14, 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
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
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 (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 And Intangible Assets
Goodwill And Intangible Assets (details)
Goodwill And Intangible Assets (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 (schedule Of 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
Subsequent Events (details)
Ticker: RTSX
CIK: 1503518
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-16-010067
Submitted to the SEC: Mon Nov 14 2016 5:28:11 PM EST
Accepted by the SEC: Mon Nov 14 2016
Period: Friday, September 30, 2016
Industry: Offices And Clinics Of Doctors Of Medicine

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