Lebanon, N.H.-based Dartmouth Health reported $41.9 million in operating income (1.2% margin) for the fiscal year ending June 30, reversing the $45.3 million operating loss (-1.5% margin) posted in the previous fiscal year.
Revenue increased 16.1% year over year to $3.61 billion while expenses grew by 13.3% to $3.57 billion, according to financial documents published Aug. 29. Salaries increased 11.1% to $1.58 billion while employee benefits rose 17.9% to $391.7 million.
After accounting for nonoperating items, such as investment returns, Dartmouth ended the fiscal year with a net income of $238.2 million, compared to a $13.4 million net loss in the previous fiscal year.
Days of cash on hand was 144 on June 30, up from 126 one year previously.
The health system acquired Valley Regional Hospital, a 25-bed facility in Claremont, N.H., effective July 31. Dartmouth is New Hampshire's only academic health system and the largest private employer in the state.