Novant sees net income slip as investments drag down bottom line

Novant Health reported an increase in revenue in fiscal year 2015, but the Winston-Salem, N.C.-based system ended the period with lower net income than a year earlier, according to the Winston-Salem Journal.

Novant reported operating revenue increased 8.9 percent year over year to $4.1 billion in FY 2015. However, the system's revenue gains were offset by a 7.2 percent increase in expenses.

The health system also reported a $60 million loss in its stock market investment portfolio in FY 2015, which took a hit on its bottom line. Novant posted a $38.9 million gain on its investments in FY 2014, according to the report.

Novant ended the most-recent fiscal year with net income of $191.6 million, down 5 percent from a year earlier.

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