ELMSFORD, N.Y.--(BUSINESS WIRE)--BioScrip, Inc. (NASDAQ: BIOS) today reported a first quarter 106% increase in operating profit over the fourth quarter 2006, on revenues of $296.3 million. First quarter 2007 operating profit was $136,000; EBITDAO (earnings before interest, taxes, depreciation, amortization and option expense) was $3.0 million with a net loss of $1.3 million, or $0.04 per share. This compares to first quarter 2006 revenues of $299.7 million, an operating loss of $1.6 million, EBITDAO of $1.7 million, and a net loss of $1.2 million, or $0.03 per share. The Company adopted FIN 48 effective January 1, 2007. As a result, the Company recorded a $2.4 million tax liability with a corresponding charge to retained earnings.
