One of the few bright spots on a cold, wintry Monday, with stocks dawdling as investors in many quarters took profits, was Protech Home Medical (TSX-Venture:PTQ), a health-care services company with operations in the U.S. The company is headquartered in Cincinnati.
On Monday, the firm announced fourth-quarter revenues of $20.3 million, representing the largest revenue recorded for any one quarter of the fiscal year. Moreover, adjusted EBITDA for the year of $12.6 million, compared to $1.0 million for the year ended September 30, 2017, an increase of over 1,100%.
As a result of providing patient care of which it was duly proud, PTQ achieved 6% organic growth in its patient base for the year compared to the year ended September 30, 2017.
Said CEO Greg Crawford with pride, “We have managed to achieve these results while also building on all aspects of our business including an increase in the number of deliveries, shipments and set-ups.”
The company’s stock gained a solid, unspectacular three cents, or 4%, to 78 cents, on a day when many stocks were getting battered, on volume of 292,000 shares.
