{"id":389424,"date":"2020-11-30T08:03:35","date_gmt":"2020-11-30T13:03:35","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=389424"},"modified":"2020-11-30T08:03:35","modified_gmt":"2020-11-30T13:03:35","slug":"protech-home-medical-announces-record-preliminary-fourth-quarter-2020-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/protech-home-medical-announces-record-preliminary-fourth-quarter-2020-results\/","title":{"rendered":"Protech Home Medical Announces Record Preliminary Fourth Quarter 2020 Results"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"center\">\n        <strong>Ebitda Margin Acceleration Continues<\/strong><br \/>\n        \n      <\/p>\n<p align=\"center\">\n        <strong>Business Remains Robust Into Fiscal Q1 2021<\/strong>\n      <\/p>\n<p align=\"justify\">CINCINNATI, Nov.  30, 2020  (GLOBE NEWSWIRE) &#8212; Protech Home Medical Corp. (the \u201c<strong>Company<\/strong>\u201d\u00a0or\u00a0<strong>\u201cProtech\u201d<\/strong>) (TSXV:PTQ; OTCQX:PTQQF), a U.S. based leader in the home medical equipment industry, focused on end-to-end respiratory care\u200e,\u00a0is pleased to announce record preliminary financial results for the fourth quarter of 2020, ending September 30, 2020.<\/p>\n<p>\n        <strong><br \/>\n          <u>Preliminary Financial Results &#8211; Quarter Ended September 30, 2020 <\/u><br \/>\n        <\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Revenue in the range of $26.1 million to $26.5 million. The Company experienced robust organic growth in the fourth quarter, however the reported CAD revenue amount was offset by a weakening of the US dollar relative the Canadian dollar by approximately 4%.<\/li>\n<li style=\"text-align:justify\">Adjusted EBITDA in the range of $5.6 million to $6.1 million.<\/li>\n<\/ul>\n<p align=\"justify\">\u201cWe are extremely satisfied with the record preliminary financial performance in the fourth quarter and the foundation that has been built for continued aggressive growth in 2021 and beyond. It is the resilience of the entire team, whilst dealing with the impact of a global pandemic that allowed us to surpass our financial objectives in the fourth quarter and for the full year of 2020,\u201d commented Greg Crawford, CEO and Chairman of Protech. \u201cWe have seen our sleep business pick up in the back half of the year, approaching levels seen early in 2020, and are optimistic the sleep business will return to and surpass pre-pandemic levels in 2021. As a whole, our business remains robust into our fiscal first quarter of 2021, our M&amp;A pipeline is full, and we are well capitalized with our pristine balance sheet to capture the significant opportunities at our front door.<\/p>\n<p align=\"justify\">We are building a world class clinical respiratory organization focused on superior patient care, and I am extremely proud of the work by our team as evidenced in our strong results. Furthermore, we are proud to report there has been a surge in the usage of our tele-health platform, and we are proud to offer both remote and in-person options to our patients as it comes to the education of utilizing our equipment. We believe the need for in-home healthcare will only continue to accelerate across the country, and hospitals will continue to provide Protech with continued opportunity, and we are ready to capitalize. We felt it extremely important to continue to keep our shareholders apprised with our financial performance in real time. We look forward to sharing our full financial results and commentary in January.\u201d<\/p>\n<p align=\"justify\">Chief Financial Officer, Hardik Mehta added, \u201cOur record preliminary results speak to the continued operational execution across the organization. We have a strong interconnected platform that allows us to build our business organically and continue to lather on acquired businesses to the platform in a seamless fashion. Furthermore, the recent decision by CMS to not award competitive bidding contracts for any of the 13 \u200eproduct categories for Round 2021 is extremely \u200ebullish for our current business as it provides us with a significantly clearer outlook on the margin \u200efor our overall product mix. Our Adjusted EBITDA margins continue to exceed our expectations and we are extremely confident in our ability to continue with this trajectory.\u201d<\/p>\n<p align=\"justify\">Protech provides home delivery and efficient online set-up of equipment for, primarily, chronic conditions. The Company operates out of 48 locations in 10 states with over 17,000 referring physicians and approximately 110,000 current active patients.<\/p>\n<p align=\"justify\">\n        <strong>ABOUT PROTECH HOME MEDICAL<\/strong>\n      <\/p>\n<p align=\"justify\">The Company provides in-home monitoring and disease management services including end-to-end respiratory solutions for patients in the United States healthcare market. It seeks to continue to expand its offerings to include the management of several chronic disease states focusing on patients with heart or pulmonary disease, sleep disorders, reduced mobility and other chronic health conditions. The primary business objective of the Company is to create shareholder value by offering a broader range of services to patients in need of in-home monitoring and chronic disease management. The Company\u2019s organic growth strategy is to increase annual revenue per patient by offering multiple services to the same patient, consolidating the patient\u2019s services and making life easier for the patient.<\/p>\n<p align=\"justify\">\n        <strong><br \/>\n          <em>Forward-Looking Statements<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">\n        <em>Certain statements contained in this press release constitute &#8220;forward-looking information&#8221; as such term is \u200e\u200e\u200edefined \u200ein applicable Canadian securities legislation. The words &#8220;may&#8221;, &#8220;would&#8221;, &#8220;could&#8221;, &#8220;should&#8221;, &#8220;potential&#8221;, \u200e\u200e\u200e\u200e&#8221;will&#8221;, \u200e\u200e&#8221;seek&#8221;, &#8220;intend&#8221;, &#8220;plan&#8221;, &#8220;anticipate&#8221;, &#8220;believe&#8221;, &#8220;estimate&#8221;, &#8220;expect&#8221; and similar expressions as they relate \u200e\u200e\u200eto the \u200eCompany, including: t<\/em><br \/>\n        <em>he Company expecting continued aggressive growth in 2021 and beyond; the Company being optimistic the sleep business will return to and surpass pre-pandemic levels in 2021; the Company sharing full financial results and commentary in January; and <\/em><br \/>\n        <em>the Company being extremely confident in its ability to continue with its Adjusted EBITDA trajectory<\/em><br \/>\n        <em>; are intended to identify \u200eforward-looking information. All statements other than \u200estatements of \u200e\u200ehistorical fact may be forward-looking \u200einformation. Such statements reflect the Company&#8217;s current \u200eviews and \u200e\u200eintentions with respect to future events, and \u200ecurrent information available to the Company, and are \u200esubject to \u200e\u200ecertain risks, uncertainties and assumptions. Many factors \u200ecould \u200ecause the actual results, performance or \u200eachievements that may be expressed or \u200eimplied by such forward-\u200elooking \u200einformation to vary from those described \u200eherein should one or more of these risks \u200eor uncertainties \u200ematerialize. \u200eExamples of such risk factors include, without \u200elimitation: credit; market (including \u200eequity, commodity, \u200eforeign \u200eexchange and interest rate); liquidity; operational \u200e\u200e(including technology and \u200einfrastructure); \u200ereputational; \u200einsurance; strategic; regulatory; legal; environmental; \u200ecapital adequacy; the \u200egeneral business and \u200eeconomic \u200econditions in the regions in which the Company operates; the \u200eability of the \u200eCompany to execute on key \u200epriorities, \u200eincluding the successful completion of acquisitions, business \u200eretention, and \u200estrategic plans and to \u200eattract, develop \u200eand retain key executives; difficulty integrating newly \u200eacquired businesses; \u200ethe ability to \u200eimplement business \u200estrategies and pursue business opportunities; low profit \u200emarket segments; \u200edisruptions in or \u200eattacks (including \u200ecyber-attacks) on the Company&#8217;s information technology, \u200einternet, network \u200eaccess or other \u200evoice or data \u200ecommunications systems or services; the evolution of various types of \u200efraud or other \u200ecriminal \u200ebehavior to which \u200ethe Company is exposed; the failure of third parties to comply with their \u200eobligations to \u200ethe \u200eCompany or its \u200eaffiliates; the impact of new and changes to, or application of, current laws and \u200eregulations; \u200e\u200edecline of \u200ereimbursement rates; dependence on few payors; possible new drug discoveries; a novel \u200ebusiness model; \u200e\u200e\u200edependence on key suppliers; granting of permits and licenses in a highly regulated business; the \u200eoverall difficult \u200e\u200e\u200elitigation environment, including in the U.S.; increased competition; changes in foreign currency \u200erates; increased \u200e\u200e\u200efunding costs and market volatility due to market illiquidity and competition for funding; the \u200eavailability of funds \u200e\u200e\u200eand resources to pursue operations; critical accounting estimates and changes to accounting \u200estandards, policies, \u200e\u200e\u200eand methods used by the Company; the occurrence of natural and unnatural catastrophic events \u200e\u200eand claims \u200e\u200e\u200eresulting from such events; and risks related to COVID-19 including various recommendations, orders \u200e\u200eand \u200e\u200emeasures of governmental \u200eauthorities \u200eto try to limit the pandemic, including travel restrictions, border closures, \u200e\u200e\u200e\u200enon-essential business \u200eclosures, \u200equarantines, self-isolations, shelters-in-place and social distancing, disruptions \u200e\u200eto \u200e\u200emarkets, economic \u200eactivity, \u200efinancing, supply chains and sales channels, and a deterioration of general \u200e\u200eeconomic \u200e\u200econditions \u200eincluding a \u200epossible national or global recession\u200e; as well as those risk factors discussed or \u200e\u200ereferred to in \u200e\u200ethe Company\u2019s disclosure \u200edocuments filed with the securities regulatory authorities in certain \u200e\u200eprovinces of Canada \u200e\u200eand available at \u200ewww.sedar.com. Should any factor affect the Company in an unexpected \u200e\u200emanner, or should \u200e\u200eassumptions \u200eunderlying the forward-looking information prove incorrect, the actual results or \u200e\u200eevents may differ \u200e\u200ematerially \u200efrom the results or events predicted. Any such forward-looking information is \u200e\u200eexpressly qualified in its \u200e\u200eentirety by \u200ethis cautionary statement. Moreover, the Company does not assume \u200e\u200eresponsibility for the accuracy or \u200e\u200e\u200ecompleteness of such forward-looking information. The forward-looking \u200e\u200einformation included in this press release \u200eis \u200e\u200emade as of the date of this press release and the Company undertakes \u200e\u200eno obligation to publicly update or revise \u200eany \u200e\u200eforward-looking information, other than as required by applicable \u200e\u200elaw.\u200e\u200e<\/em>\n      <\/p>\n<p>\n        <strong><br \/>\n          <em>Non-GAAP Measures<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">\n        <em>This press release refers to \u201cAdjusted EBITDA\u201d which is a non-GAAP and non-IFRS financial measure that does not have a standardized meaning prescribed by GAAP or IFRS. The Company\u2019s presentation of this financial measure may not be comparable to similarly titled measures used by other companies. This financial measure is intended to provide additional information to investors concerning the Company\u2019s performance. Adjusted EBITDA is defined as EBITDA excluding stock-based compensation. Adjusted EBITDA is a non-IFRS measure the Company uses as an indicator of financial health and excludes several items which may be useful in the consideration of the financial condition of the Company, including interest expense, income taxes, depreciation, amortization, stock-based compensation, and change in fair value of debentures and financial derivatives\u200e. The following table shows our non-IFRS measure (Adjusted EBITDA) reconciled to our net income for the \u200eindicated period:<\/em>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td rowspan=\"2\" style=\"max-width:84%;width:84%;min-width:84%;text-align: justify;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;text-align: center;vertical-align: middle;vertical-align: bottom\">Three months ended September 30, 2020<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">($ in millions)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;text-align: left;vertical-align: middle;vertical-align: bottom\">Net income (loss)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"vertical-align: bottom;text-align: right;vertical-align: middle\">(3.0) \u2013 (2.7)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;text-align: left;vertical-align: middle;vertical-align: bottom\">Loss from discontinued operations<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;text-align: left;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom;text-align: right;vertical-align: middle\">0.7 \u2013 0.8<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;text-align: left;vertical-align: middle;vertical-align: bottom\">Income (loss) from continuing operations<\/td>\n<td style=\"vertical-align: bottom;text-align: right;vertical-align: middle\">(2.3) \u2013 (1.9)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;text-align: left;vertical-align: middle;vertical-align: bottom\">Add back:<\/td>\n<td style=\"vertical-align: bottom;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;text-align: left;vertical-align: middle;vertical-align: bottom\">Depreciation and amortization<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom;text-align: right;vertical-align: middle\">4.9 \u2013 4.9<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;text-align: left;vertical-align: middle;vertical-align: bottom\">Interest expense, net<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom;text-align: right;vertical-align: middle\">0.6 \u2013 0.6<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;text-align: left;vertical-align: middle;vertical-align: bottom\">Change in fair value of derivative and other financial costs<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom;text-align: right;vertical-align: middle\">2.3 \u2013 2.4<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;text-align: left;vertical-align: middle;vertical-align: bottom\">Provision for income taxes<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;text-align: left;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom;text-align: right;vertical-align: middle\">0.1 \u2013 0.1<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;text-align: left;vertical-align: middle;vertical-align: bottom\">EBITDA<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"vertical-align: bottom;text-align: right;vertical-align: middle\">5.6 \u2013 6.1<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;text-align: left;vertical-align: middle;vertical-align: bottom\">Stock-based compensation<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom;text-align: right;vertical-align: middle\">0.0 \u2013 0.0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;text-align: left;vertical-align: middle;vertical-align: bottom\">Adjusted EBITDA<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double 15px 3pt;vertical-align: bottom;text-align: right;vertical-align: middle\">5.6 \u2013 6.1<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong><br \/>\n          <em>Preliminary Financial Metrics<\/em><br \/>\n        <\/strong><br \/>\n        \n      <\/p>\n<p align=\"justify\">\n        <em>This press release contains certain pre-released third quarter financial metrics. The third quarter financial \u200emetrics contained in this press release are preliminary and represent the most current information available to the \u200eCompany&#8217;s management, as financial closing procedures for the three and nine months ended September 30, 2020 are \u200enot yet complete. The Company&#8217;s actual consolidated financial statements for such period may result in material \u200echanges to the financial metrics summarized in this press release (including by any one financial metric, or all of \u200ethe financial metrics, being below or above the figures indicated) as a result of the completion of normal quarter \u200eend accounting procedures and adjustments, and also what one might expect to be in the final consolidated \u200efinancial statements based on the financial metrics summarized in this press release. Although the Company \u200ebelieves the expectations reflected in this press release are based upon reasonable assumptions, the Company can \u200egive no assurance that actual results will not differ materially from these expectations.\u200e<\/em>\n      <\/p>\n<p align=\"justify\">\n        <em>Unless otherwise specified, all dollar amounts in this press release are expressed in Canadian dollars.\u200e<\/em>\n      <\/p>\n<p align=\"justify\">\n        <em>Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.<\/em>\n      <\/p>\n<p align=\"justify\">For further information please visit our website at www.protechhomemedical.com, or contact:<\/p>\n<p>Cole Stevens<br \/>VP of Corporate Development<br \/>Protech Home Medical Corp.<br \/>859-300-6455<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=I-uRCIcxQYzpIhLgh-y6ZXkypdt-zbIUC2F1bRuvAHlZuzQqpkaZGmsJaIF7fZRLYpTD2YMLZD5_TnHDU6H6T6stbjGbJ4--zqKjRoR-fyM=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>cole.stevens@myphm.com<\/u><\/a><\/p>\n<p align=\"justify\">Gregory Crawford<br \/>Chief Executive Officer<br \/>Protech Home Medical Corp.<br \/>859-300-6455<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=vIWeBqACpZ8-8PMo7s_Df_DuA4quP7ROvNSDApCXqy7Lfw-3WaQSjx5K3P6t1pAg0MaTuhkSrqlFd_S9Co06lLpU4sTC1WBd4vMCYLTtwkw=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>investorinfo@myphm.com<\/u><\/a><\/p>\n<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5Mzc3NCMzODQ3MDMwIzIwODgwMDI=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/b76a2f23-b36b-4acb-8c1d-5a76216dda8b\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ebitda Margin Acceleration Continues Business Remains Robust Into Fiscal Q1 2021 CINCINNATI, Nov. 30, 2020 (GLOBE NEWSWIRE) &#8212; Protech Home Medical Corp. (the \u201cCompany\u201d\u00a0or\u00a0\u201cProtech\u201d) (TSXV:PTQ; OTCQX:PTQQF), a U.S. based leader in the home medical equipment industry, focused on end-to-end respiratory care\u200e,\u00a0is pleased to announce record preliminary financial results for the fourth quarter of 2020, ending September 30, 2020. Preliminary Financial Results &#8211; Quarter Ended September 30, 2020 Revenue in the range of $26.1 million to $26.5 million. The Company experienced robust organic growth in the fourth quarter, however the reported CAD revenue amount was offset by a weakening of the US dollar relative the Canadian dollar by approximately 4%. Adjusted EBITDA in the range of $5.6 million to $6.1 million. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/protech-home-medical-announces-record-preliminary-fourth-quarter-2020-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Protech Home Medical Announces Record Preliminary Fourth Quarter 2020 Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-389424","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Protech Home Medical Announces Record Preliminary Fourth Quarter 2020 Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/protech-home-medical-announces-record-preliminary-fourth-quarter-2020-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Protech Home Medical Announces Record Preliminary Fourth Quarter 2020 Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Ebitda Margin Acceleration Continues Business Remains Robust Into Fiscal Q1 2021 CINCINNATI, Nov. 30, 2020 (GLOBE NEWSWIRE) &#8212; Protech Home Medical Corp. (the \u201cCompany\u201d\u00a0or\u00a0\u201cProtech\u201d) (TSXV:PTQ; OTCQX:PTQQF), a U.S. based leader in the home medical equipment industry, focused on end-to-end respiratory care\u200e,\u00a0is pleased to announce record preliminary financial results for the fourth quarter of 2020, ending September 30, 2020. Preliminary Financial Results &#8211; Quarter Ended September 30, 2020 Revenue in the range of $26.1 million to $26.5 million. The Company experienced robust organic growth in the fourth quarter, however the reported CAD revenue amount was offset by a weakening of the US dollar relative the Canadian dollar by approximately 4%. Adjusted EBITDA in the range of $5.6 million to $6.1 million. &hellip; Continue reading &quot;Protech Home Medical Announces Record Preliminary Fourth Quarter 2020 Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/protech-home-medical-announces-record-preliminary-fourth-quarter-2020-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-30T13:03:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5Mzc3NCMzODQ3MDMwIzIwODgwMDI=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/protech-home-medical-announces-record-preliminary-fourth-quarter-2020-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/protech-home-medical-announces-record-preliminary-fourth-quarter-2020-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Protech Home Medical Announces Record Preliminary Fourth Quarter 2020 Results\",\"datePublished\":\"2020-11-30T13:03:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/protech-home-medical-announces-record-preliminary-fourth-quarter-2020-results\\\/\"},\"wordCount\":1748,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/protech-home-medical-announces-record-preliminary-fourth-quarter-2020-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODA5Mzc3NCMzODQ3MDMwIzIwODgwMDI=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/protech-home-medical-announces-record-preliminary-fourth-quarter-2020-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/protech-home-medical-announces-record-preliminary-fourth-quarter-2020-results\\\/\",\"name\":\"Protech Home Medical Announces Record Preliminary Fourth Quarter 2020 Results - 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(the \u201cCompany\u201d\u00a0or\u00a0\u201cProtech\u201d) (TSXV:PTQ; OTCQX:PTQQF), a U.S. based leader in the home medical equipment industry, focused on end-to-end respiratory care\u200e,\u00a0is pleased to announce record preliminary financial results for the fourth quarter of 2020, ending September 30, 2020. Preliminary Financial Results &#8211; Quarter Ended September 30, 2020 Revenue in the range of $26.1 million to $26.5 million. The Company experienced robust organic growth in the fourth quarter, however the reported CAD revenue amount was offset by a weakening of the US dollar relative the Canadian dollar by approximately 4%. 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