SunLink Health Systems Inc (SSY, Financial) filed Amended Quarterly Report for the period ended 2011-12-31.
Sunlink Hlth Sy has a market cap of $10 million; its shares were traded at around $0.97 with and P/S ratio of 0.1. Sunlink Hlth Sy had an annual average earning growth of 14% over the past 10 years.
Specialty Pharmacy net revenues for the three months ended December 31, 2011 was $10,672, a decrease of $811, or 7.1%, from $11,483 for the three months ended December 31, 2010. Specialty Pharmacy net revenues for the six months ended December 31, 2011 was $18,427, a decrease of $1,958, or 9.6%, from $20,385 for the six months ended December 31, 2010. The decrease was due to the conversion of numerous institutional pharmacy direct-servicing contracts to a pharmacy management contract, the loss of certain other institutional contracts and a decrease in the sale of the seasonal infusion therapy drug from the same period of the prior year, offset somewhat by the realization of net revenues related to a new component of the institutional pharmacy business.
Salaries, wages and benefits increased as a percentage of net revenue in the three and six months ended December 31, 2011 due to increased employee medical claims expense and the overall decrease in net patient revenues for the three and six months ended December 31, 2011. For the three and six months ended December 31, 2011, employee medical claims expense increased $529 and $786, respectively, as compared to the three and six months ended December 31, 2010.
Medicaid EHR incentives as a percentage of net revenue is a negative 2.3% and 3.0% for the three and six months ended December 31, 2011. This is related to the $614 and $1,627 of Medicaid EHR incentive payments recognized in the three and six months ended December 31, 2011, respectively. There were no Medicaid EHR incentive payments recognized in the three and six months ended December 31, 2010.
SunLink had an operating loss of $569 for the three months ended December 31, 2011 and an operating profit of $178 for the three months ended December 31, 2010. SunLink had an operating loss of $1,285 and $1,591 for the six months ended December 31, 2011 and December 31, 2010, respectively. The operating losses for the three and six months ended December 31, 2011 compared to the prior year periods resulted from decreases in net revenues partially offset by decreases in cost and expenses as a result of the decrease in net revenues and effective cost control measures implemented at the facilities.
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Sunlink Hlth Sy has a market cap of $10 million; its shares were traded at around $0.97 with and P/S ratio of 0.1. Sunlink Hlth Sy had an annual average earning growth of 14% over the past 10 years.
Highlight of Business Operations:
Net revenues for the three months ended December 31, 2011 were $26,366 with a total of 4,102 equivalent admissions and revenue per equivalent admission of $6,401 compared to net revenues of $29,058 with a total of 3,893 equivalent admissions and revenue per equivalent admission of $7,464 for the quarter ended December 31, 2010. Net revenues for the six months ended December 31, 2011 were $54,128 with a total of 8,237 equivalent admissions and revenue per equivalent admission of $6,544 compared to net revenues of $56,952 with a total of 8,067 equivalent admissions and revenue per equivalent admission of $7,060 for the six months ended December 31, 2010.Specialty Pharmacy net revenues for the three months ended December 31, 2011 was $10,672, a decrease of $811, or 7.1%, from $11,483 for the three months ended December 31, 2010. Specialty Pharmacy net revenues for the six months ended December 31, 2011 was $18,427, a decrease of $1,958, or 9.6%, from $20,385 for the six months ended December 31, 2010. The decrease was due to the conversion of numerous institutional pharmacy direct-servicing contracts to a pharmacy management contract, the loss of certain other institutional contracts and a decrease in the sale of the seasonal infusion therapy drug from the same period of the prior year, offset somewhat by the realization of net revenues related to a new component of the institutional pharmacy business.
Salaries, wages and benefits increased as a percentage of net revenue in the three and six months ended December 31, 2011 due to increased employee medical claims expense and the overall decrease in net patient revenues for the three and six months ended December 31, 2011. For the three and six months ended December 31, 2011, employee medical claims expense increased $529 and $786, respectively, as compared to the three and six months ended December 31, 2010.
Medicaid EHR incentives as a percentage of net revenue is a negative 2.3% and 3.0% for the three and six months ended December 31, 2011. This is related to the $614 and $1,627 of Medicaid EHR incentive payments recognized in the three and six months ended December 31, 2011, respectively. There were no Medicaid EHR incentive payments recognized in the three and six months ended December 31, 2010.
SunLink had an operating loss of $569 for the three months ended December 31, 2011 and an operating profit of $178 for the three months ended December 31, 2010. SunLink had an operating loss of $1,285 and $1,591 for the six months ended December 31, 2011 and December 31, 2010, respectively. The operating losses for the three and six months ended December 31, 2011 compared to the prior year periods resulted from decreases in net revenues partially offset by decreases in cost and expenses as a result of the decrease in net revenues and effective cost control measures implemented at the facilities.
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