West Virginia Radiation Therapy Services, Inc.
Statement of Revenue and Expenses
For the Twelve Months Ending December 31, 2014
NET PATIENT SERVICE REVENUE YTD
FEE FOR SERVICE REVENUE $ 9,084,889
OTHER INCOME 708,001
TOTAL NPS REVENUE 9,792,890
EXPENSES
COST OF THERAPY SERVICES
PHYSICIAN COMPENSATION 1,357,368
SALARIES & BENEFITS 1,704,571
MEDICAL SUPPLIES 23,182
OCCUPANCY COSTS – RENT 328,092
DEPRECIATION & AMORTIZATION 713,640
REPAIRS, MAINTENANCE & OTHER 501,159
TOTAL DIRECT COSTS 4,628,011
CENTER GROSS MARGIN 5,164,879
GENERAL & ADMIN EXPENSES
SALARIES – INDIRECT 477,216
DEPRECIATION & AMORTIZATION 21,528
BAD DEBTS 88,921
OTHER GENERAL & ADMINISTRATIVE 1,194,339
TOTAL G & A EXPENSES 1,782,004
TOTAL OPERATING EXPENSES 6,410,015
TOTAL OPERATING INCOME 3,382,875
INTEREST EXPENSE (NET) 40,710
EARNINGS BEFORE TAXES 3,342,165
INCOME TAX EXPENSE –
NET INCOME (LOSS) 3,342,165
West Virginia Radiation Therapy Services, Inc.
Balance Sheet
For the Twelve Months Ending December 31, 2014
ASSETS YTD
CASH –
ACCOUNTS RECEIVABLE 17,488,932
PREPAID EXPENSES 26,279
DEFERRED INCOME TAXES 26,259
TOTAL CURRENT ASSETS 17,541,470
PROP, PLANT & EQUIPMENT, NET 1,979,358
GOODWILL, NET 17,929,841
DEFERRED INCOME TAXES –
OTHER ASSETS 293
TOTAL ASSETS 37,450,962
LIABILITIES & EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLE 2,607,078
ACCRUED EXPENSES 1,625,295
CURRENT PORTION LTD 275,078
TOTAL CURRENT LIABILITIES 4,507,451
LONG-TERM LIABILITIES
LTD LESS CURRENT PORTION 145,350
DEFERRED INCOME TAXES 3,429,838
TTL LONG TERM LIABILITIES 3,575,188
TOTAL LIABILITIES 8,082,639
TOTAL LIABILITIES & INTERCO ITEMS 8,082,639
EQUITY
PAID IN CAPITAL 30,025,090
RETAINED EARNINGS (656,767)
TOTAL STOCKHOLDER’S EQUITY 29,368,323
TOTAL LIABILITIES & EQUITY 37,450,962
West Virginia Radiation Therapy Services, Inc.
Statement Of Equity
Additional Retained Total
Paid in Capital Earnings Equity
Balance,
December 31, 2013 $ 30,025,090 $ (3,998,932) $ 26,026,158
Net Income $ 3,342,165 $ 3,342,165
Contribution of Equity –
Balance,
December 31, 2014 $ 30,025,090 $ (656,767) $ 29,368,323
West Virginia Radiation Therapy Services, Inc. is a wholly-owned subsidiary of Radiation Therapy Services, Inc.
Details of this ad are available for copying and public inspection at the Health Care Authority, 100 Dee Drive, Charleston, WV 25311.