SunLink Health Systems (pdf) continues to hemorrhage red ink, as the Atlanta-based, for-profit hospital operator recorded a net loss of $1.54 million in the third quarter of its 2012 fiscal year, roughly five times the $314,000 net loss it recorded in the third quarter last year.
The results for the quarter ended March 31, 2012, include a pre-tax impairment charge of $931,000 to write down goodwill resulting from SunLink's October 2003 merger with HealthMont. SunLink's net revenue was also down 6.8 percent in the third quarter to $39.5 million.
For the nine months ended March 31, 2012, SunLink posted a net loss of $4 million compared with a net loss of $4.8 million in the same nine-month period last year. Net revenue fell 6.4 percent, from $119.7 million in the first nine months last year to $112 million this year.
In addition, surgeries, admissions and net revenue per equivalent admission were all down in the third quarter and first nine months of FY 2012 compared with last year.
The results for the quarter ended March 31, 2012, include a pre-tax impairment charge of $931,000 to write down goodwill resulting from SunLink's October 2003 merger with HealthMont. SunLink's net revenue was also down 6.8 percent in the third quarter to $39.5 million.
For the nine months ended March 31, 2012, SunLink posted a net loss of $4 million compared with a net loss of $4.8 million in the same nine-month period last year. Net revenue fell 6.4 percent, from $119.7 million in the first nine months last year to $112 million this year.
In addition, surgeries, admissions and net revenue per equivalent admission were all down in the third quarter and first nine months of FY 2012 compared with last year.
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