Shares of Nobilis Health Corp USA (NYSEAMERICAN:HLTH) tumbled on Tuesday after the Houston-based company reported first-quarter earnings that disappointed investors by being light on revenue.
Shares of Nobilis Health were down 15.6% to US$1.35 at midday.
For the quarter ended March 31, Nobilis Health reported a loss of US$0.05 per share on revenue of US$64.5mln. Revenue fell 5.6% compared to the same quarter a year ago.
"Despite a reduction in top line revenues, we continued to see significant improvements in our margins and key efficiency metrics. Gross Margin edged up by nearly 60 basis points, loss from operations improved by 12.3%, and total operating expense per case declined by 21.2%, year-over-year," Nobilis Health CEO Harry Fleming said in a statement.
The health care facilities operator expects full-year revenue in the range of US$345mln to US$355mln.