Assure Holdings Corp. Announces Record Q2 Financial Results

Company Reports 6 Month Revenue of $7,941,229 and EBITDA of $6,201,229 USD

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./

PARKER, CO, Aug. 22, 2017 /CNW/ - Assure Holdings Corp. (the "Company" (TSXV: IOM, OTCQB: ARHH), announces today the financial and operating results for the 3 and 6 months ended June 30, 2017. The Company's quarterly Financial Statements and MD&A can be found at www.sedar.com.  

Assure Holdings Corp. reports:

  • Record Quarterly Operating Revenue of over $4,026,440 USD
  • Record Revenue of $7,941,229 USD for the 6 months ended June 30, 2017
  • Q2 Net Income of $2,178,363 USD
  • Net Income of $5,391,160 USD for the 6 months ended June 30, 2017
  • Multi-State expansion underway

Preston Parsons, the Chief Executive Officer and Founder of the Company said of the announcement, "We're very pleased with our performance in Q2.  We were able to complete our qualifying transaction during the quarter and commenced trading on May 29th, while at the same time we continued to grow the business.  With nearly a million dollars of transaction related expenses, the company would of had significantly higher net income in Q2.  With the rigorous going public process now behind us, we've been able to fully focus on expanding our business and continue to create value for our shareholders. We're very enthusiastic as to the direction of the company and look forward to current expansion initiatives planned for the balance of this year and beyond." 

Highlights of the Financial Results for the 3 and 6 months ended June 30 Include: (Reported in USD)


2017

2016


3 mo

6 mo

3 mo

6 mo

Operating Revenue

$

4,026,440

$

7,941,229

$

834,521

$

834,521

Income from Equity Method Investments

$

550,454

$

1,456,251

$

(23,119)

$

308,695

Earnings from Operations

$

2,033,553

$

4,757,142

$

652,034

$

641,659

Income Before Taxes

$

2,578,521

$

6,190,615

$

627,099

$

948,538

Net Income

$

2,167,306

$

5,380,103

$

627,099

$

948,538

Basic EPS

$

.08

$

.19

$

.04

$

.12

Fully Diluted EPS

$

.07

$

.17

$

.04

$

.12

 

Matthew Willer, Assure's President commented, "This quarter was very strong from both a top and bottom line perspective.  The Company executed very well and delivered record quarterly revenue.  As we enter into the busiest season, our team shares a level of focus, drive, and confidence that is very powerful. Market acceptance of the Assure platform continues to be extremely strong, and we look forward to sharing our operational highlights in today's conference call."

Assure will be holding it's inaugural quarterly results conference call on Aug. 22nd at 4:30 ET.  Dial in instructions are as follows:

Dial in:  1-888-899-5068 (US/Canadian Toll Free) or 1-719-325-2295
Conference ID:  7666998

A transcript of the call will be available on the Company's website, www.AssureIOM.com following the conference call. 

About Assure Holdings Corp.
Assure Holdings Corp. is a Colorado based company, incorporated in the State of Nevada, that works with neurosurgeons and orthopedic spine surgeons to provide a turnkey suite of services that support intraoperative neuromonitoring activities during invasive surgeries.  Assure: (i) employs its own staff of technologists and uses its own state of the art monitoring equipment, (ii) handles 100% of intraoperative neuromonitoring scheduling and setup, and (iii) bills for all technical services provided.  While Assure focuses primarily on supporting spinal surgeries, plans are in place to support other classes of medicine that rely on the standard of care that intraoperative neuromonitoring provides.

Investors are cautioned that, except as disclosed in the Filing Statement any information released or received with respect to the reverse take-over may not be accurate or complete and should not be relied upon.  Trading in the securities of the Corporation should be considered highly speculative.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The securities of the Corporation have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical fact, which address activities, events, outcomes, results, developments, performance or achievements that Assure anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking information. Such information may involve, but is not limited to, comments with respect to strategies, expectations, planned operations and future actions of the Corporation. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of Assure to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to Assure, including information obtained from third-party industry analysts and other third party sources, and are based on management's current expectations or beliefs regarding future growth, results of operations, future capital (including the amount, nature and sources of funding thereof) and expenditures. Any and all forward-looking information contained in this Filing Statement is expressly qualified by this cautionary statement.

SOURCE Assure Holdings Corp.

For further information: Matthew Willer, President, Assure Holdings Corp., Tel: (720) 287-3093, Email: Matthew.Willer@assureIOM.com, Website: www.assureIOM.com

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