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.