InfuSystem Holdings Inc
For the period ended Dec 31, 2023. Filed Apr 10, 2024.
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FY2023 · Filed Apr 10, 2024
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Item 9B. Other Information
As discussed in Note 15 – Correction of Immaterial Errors to Previously Issued Consolidated Financial Statements, subsequent to the third quarter of 2023, the Company identified errors in our first, second and third quarterly filings of 2023 in the cost classifications related to pumps, pump parts, accessories, and services that were originally classified as general and administrative expenses and should have been recorded as cost of revenues. The table below sets forth the Company’s Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income that were impacted by the error described above, including as previously reported, the adjustments resulting from the error, and the as revised balances for the periods indicated which will be corrected prospectively in future filings.
| (in thousands) | As previously reported | Adjustment | As revised |
|---|---|---|---|
| Cost of revenues | $14,830 | $590 | $15,420 |
| Gross profit | 15,540 | (590) | 14,950 |
| General and administrative (inclusive of provision for doubtful accounts) | 12,175 | (590) | 11,585 |
| Total selling, general and administrative | $15,761 | $(590) | $15,171 |
| (in thousands) | As previously reported | Adjustment | As revised |
|---|---|---|---|
| Cost of revenues | $15,293 | $610 | $15,903 |
| Gross profit | 16,442 | (610) | 15,832 |
| General and administrative (inclusive of provision for doubtful accounts) | 11,962 | (610) | 11,352 |
| Total selling, general and administrative | $15,127 | $(610) | $14,517 |
| (in thousands) | As previously reported | Adjustment | As revised |
|---|---|---|---|
| Cost of revenues | $30,123 | $1,200 | $31,323 |
| Gross profit | 31,982 | (1,200) | 30,782 |
| General and administrative (inclusive of provision for doubtful accounts) | 24,137 | (1,200) | 22,937 |
| Total selling, general and administrative | $30,888 | $(1,200) | $29,688 |
| (in thousands) | As previously reported | Adjustment | As revised |
|---|---|---|---|
| Cost of revenues | $15,663 | $630 | $16,293 |
| Gross profit | 16,246 | (630) | 15,616 |
| General and administrative (inclusive of provision for doubtful accounts) | 11,573 | (630) | 10,943 |
| Total selling, general and administrative | $14,380 | $(630) | $13,750 |
| (in thousands) | As previously reported | Adjustment | As revised |
|---|---|---|---|
| Cost of revenues | $45,786 | $1,830 | $47,616 |
| Gross profit | 48,228 | (1,830) | 46,398 |
| General and administrative (inclusive of provision for doubtful accounts) | 35,710 | (1,830) | 33,880 |
| Total selling, general and administrative | $45,268 | $(1,830) | $43,438 |
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