Agility Turns Net Loss Into A $1.9 Million Profit With Accounting Change
Healthcare firm inflates net income by $2.8 million with timely accounting change.
November 11, 2022
Agility (AGTI), a provider of healthcare technology management and service solutions, turned what would have been a net loss in the latest quarter into a profit with a timely accounting change. The company extended the useful lives of certain medical equipment to 5-10 years, from 4-7.
The $3.8 million reduction in depreciation expense resulted in a $2.8 million increase in net income.
Without the change, Agiliti would have reported a net loss of approximately $900,000, down from a $9.6 million profit in the year ago quarter.
The $2.8 million net income change is the equivalent of 10.4% of Agility’s net income for the nine months ended September 30, 2022.
Related: OLK, NUVA, MDRX, SRGY, LFST
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