Universal Hospital Services, Inc. ("UHS"), a leading provider of medical equipment management and service solutions, today announced financial results for the quarter and six months ended June 30, 2010.
Total revenues were $76.7 million for the second quarter of 2010, representing a $3.9 million, or 5.3% increase from total revenues of $72.8 million for the same period of 2009. Revenues for the first six months of 2010 totaled $156.9 million, representing a $10.1 million or 6.9% increase from $146.8 million for the same comparable period of 2009.
Net loss for the quarter was $5.1 million, compared to a net loss of $4.8 million for the same quarter last year. For the first six months, UHS reported a net loss of $7.4 million versus net loss of $9.6 million for the same period of 2009.
Second quarter Adjusted EBITDA was $28.6 million, representing a $1.8 million, or 6.7% increase from $26.8 million for the same period of 2009. Adjusted EBITDA for the first six months of 2010 was $60.7 million, representing a $6.8 million, or 12.6% increase from $53.9 million for the same period of 2009.
UHS Chairman and CEO, Gary Blackford, commented: "During the first half of the year, we accelerated our investment in resources and equipment for Asset360, Patient Handling and Wound Care, as customer demand for these programs that drive cost savings, efficiency and better patient outcomes remains high. Our continued focus and investment in these innovative offerings has helped us to become a recognized leader in medical equipment solutions."
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