BioScrip reports turnaround in Q1

ELMSFORD, N.Y. — First quarter 2011 sales at specialty pharmacy provider BioScrip increased by 31.1% over first quarter 2010. The company also showed a profit, compared with losses during the same period last year, according to financial results released Tuesday.

The company had sales of $439.3 million, compared with $335.1 million in first quarter 2010, while profits were $2.9 million, compared with losses of $7.2 million a year ago.

“We are beginning to realize early results of the restructuring efforts put in place last year, particularly in reducing our overall expenses,” BioScrip president and CEO Rick Smith said.