NEW YORK (TheStreet) -- Shares of BioScrip(BIOS) - Get Report are up by 25% to $2.65 in afternoon trading on Wednesday, following the release of the company's third quarter earnings results before the opening bell today.
The Elmsford, NY-based home care management solutions provider reported a third quarter loss of $16.8 million, or a loss of 18 cents per share, versus analysts' consensus 11 cents per share loss expectations.
Revenue for the period was $247.2 million, topping analysts' $239.5 million expectations.
"Our core infusion business delivered improved performance through strong revenue growth, reduced expenses and increased operating cash flow," said CEO Rick Smith.
"We were also able to realize meaningful cost savings through a range of targeted initiatives, including workforce reductions, supply chain optimization and the successful sale of our non-core PBM business. We are pleased with the early progress we have made on our Financial Improvement Plan, and expect to see additional benefits through the remainder of the year," Smith continued.
Separately, TheStreet Ratings team rates BIOSCRIP INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
We rate BIOSCRIP INC (BIOS) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, poor profit margins and weak operating cash flow.
Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.