Net earnings attributable to Franklin, Tenn.-based IASIS Healthcare were $1.35 million in the first quarter of fiscal year 2012, a drop of more than 88 percent from the first quarter of FY 2011, according to an IASIS news release.
However, revenue was up 1.5 percent in the first quarter ended Dec. 31, 2011, totaling $623.7 million. IASIS's adjusted EBITDA for the first quarter was $72.2 million, up from $68.8 million in the first quarter of FY 2011.
Admissions and adjusted admissions on a same-facility basis also increased 4.7 percent and 3.4 percent, respectively, from last year.
The major drop in profit from last quarter was attributed to the lower continued operations earnings (before gain on disposal of assets and income taxes), which were $19.1 million lower than the first quarter of FY 2011. IASIS had $84 million in cash and cash equivalents in the first quarter of FY 2012, compared with $147.3 million last year.
However, revenue was up 1.5 percent in the first quarter ended Dec. 31, 2011, totaling $623.7 million. IASIS's adjusted EBITDA for the first quarter was $72.2 million, up from $68.8 million in the first quarter of FY 2011.
Admissions and adjusted admissions on a same-facility basis also increased 4.7 percent and 3.4 percent, respectively, from last year.
The major drop in profit from last quarter was attributed to the lower continued operations earnings (before gain on disposal of assets and income taxes), which were $19.1 million lower than the first quarter of FY 2011. IASIS had $84 million in cash and cash equivalents in the first quarter of FY 2012, compared with $147.3 million last year.
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