Atlanta-based community hospital operator SunLink Health Systems has reported a loss from continuing operations for its second quarter ended Dec. 31, 2010 of $2.08 million, compared to a loss of $411,000 for the same quarter a year ago, according to a Sun Link news release.
The company reported a net loss of $1.77 million, compared to a net loss of $524,000 for the same quarter a year ago.
Consolidated net revenues from continuing operations for the quarter decreased 3.3 percent to $48.75 million compared to $50.4 million in the comparable period a year ago. The company's net revenues from its healthcare facilities segment dropped 2.3 percent, while its specialty pharmacy segment decreased 6.1 percent.
SunLink's adjusted EBITDA for both segments improved. Adjusted EBITDA at SunLink's healthcare facilities segment increased to $2,863,000 from $2,479,000 in the comparable quarter a year ago. Adjusted EBITDA for SunLink's specialty pharmacy segment in the quarter ended Dec. 31, 2010 increased to $386,000 from $336,000 in the comparable quarter a year ago. The company also improved its operating profit from $77,000 year-ago to $171,000.
Commenting on the results, Robert M. Thornton, Jr., CEO of SunLink, said, "We have seen encouraging initial results from our initiatives to improve the operating results in our business segments, and we continue to pursue revenue and cost initiatives in both segments. However, there is still a great deal of work left to do. Over the last six months we have invested $673,000 in capital for improvements and upgrades in our facilities. We have also implemented programs in each facility to aggressively market our hospitals, physicians and clinics to our communities. We have spent over $250,000 to upgrade our technology and systems, and added two corporate information technology personnel to make our operations more efficient and create a better experience for our patients and physicians. We believe these initiatives position us to generate positive returns from an economic upturn and maintain appropriate discipline during these difficult times."
Read the release on SunLink Health Systems.
Read more coverage on SunLink Health Systems:
- Atlanta’s SunLink Health Systems Names COO
The company reported a net loss of $1.77 million, compared to a net loss of $524,000 for the same quarter a year ago.
Consolidated net revenues from continuing operations for the quarter decreased 3.3 percent to $48.75 million compared to $50.4 million in the comparable period a year ago. The company's net revenues from its healthcare facilities segment dropped 2.3 percent, while its specialty pharmacy segment decreased 6.1 percent.
SunLink's adjusted EBITDA for both segments improved. Adjusted EBITDA at SunLink's healthcare facilities segment increased to $2,863,000 from $2,479,000 in the comparable quarter a year ago. Adjusted EBITDA for SunLink's specialty pharmacy segment in the quarter ended Dec. 31, 2010 increased to $386,000 from $336,000 in the comparable quarter a year ago. The company also improved its operating profit from $77,000 year-ago to $171,000.
Commenting on the results, Robert M. Thornton, Jr., CEO of SunLink, said, "We have seen encouraging initial results from our initiatives to improve the operating results in our business segments, and we continue to pursue revenue and cost initiatives in both segments. However, there is still a great deal of work left to do. Over the last six months we have invested $673,000 in capital for improvements and upgrades in our facilities. We have also implemented programs in each facility to aggressively market our hospitals, physicians and clinics to our communities. We have spent over $250,000 to upgrade our technology and systems, and added two corporate information technology personnel to make our operations more efficient and create a better experience for our patients and physicians. We believe these initiatives position us to generate positive returns from an economic upturn and maintain appropriate discipline during these difficult times."
Read the release on SunLink Health Systems.
Read more coverage on SunLink Health Systems:
- Atlanta’s SunLink Health Systems Names COO