BioScrip Misses Estimates (BIOS)

BioScrip, Inc. BIOS on Monday morning released financial results that missed Wall Street expectations. BioScrip, Inc. (BIOS) reported that its 2nd quarter net income fell to $3.1 million, or 6 cents per share, down from $4.3 million, or 11 cents per share, a year earlier. Excluding special items, the company earned 7 cents per share. Revenue climbed to $412 million, up from $328 million a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 9 cents per share, on revenue of $426.68 million. The company forecast full year revenue at the low end of its previous forecast of $1.67 billion to $1.72 billion. "We are focused on changing the paradigm of healthcare services in the alternate site and home care setting. Our efforts are aimed at capitalizing on trends favoring home healthcare and specialty pharmacy," said chairman and chief executive officer Richard H. Friedman. BioScrip, Inc. closed the previous trading day at $6.26 per share. Analysts covering the company's stock have a consensus price target of $11.75 per share. Elmsford, New York based BioScrip, Inc. provides specialty pharmacy and home care products and services. The company partners with patients, physicians, hospitals, healthcare payors and pharmaceutical manufacturers to provide clinical management solutions and delivery of cost-effective access to prescription medications. Read more from Benzinga's Company news.