SunLink Health Systems Inc (SSY, Financial) filed Quarterly Report for the period ended 2012-09-30.
Sunlink Health Systems Inc has a market cap of $11.7 million; its shares were traded at around $1.1299 with a P/E ratio of 5.9 and P/S ratio of 0.1. Sunlink Health Systems Inc had an annual average earning growth of 2.6% over the past 10 years.
As a percentage of net revenue, Medicare increased in the three months ended September 30, 2012 compared to the prior year period as a result of increased Medicare admissions and the opening of two Geriatric Psychiatry Units (GPUs) in July 2012. These two new GPUs had net Medicare revenue of $814 for the three months ended September 30, 2012. Medicare net revenue increased to $9,375 for the three months ended September 30, 2012 from $8,817 for the three months ended September 30, 2011. Medicaid as a percentage of net revenue decreased slightly due to decreased nursing home reimbursement. Medicaid revenue decreased from $2,863 for the three months end September 30, 2011 to $2,839 for the three months ended September 30, 2012. Managed care and other revenue decreased from $6,513 for the three months ended September 30, 2011 to $6,495 for the three months ended September 30, 2012. Self-pay revenue as a percentage of net patient revenue increased slightly for the three months ended September 30, 2012 due to an increase in emergency room visits compared to the prior year period. Self-pay revenue increased from $3,497 in the three months ended September 30, 2011 to $3,667 for the three months ended September 30, 2012.
Specialty Pharmacy net revenues for the three months ended September 30, 2012 was $6,749, a decrease of $1,006, or 12.9%, from $7,775 for the three months ended September 30, 2011. The decrease was largely due to the loss of certain institutional direct-servicing and management contracts, a decrease in the sale of a seasonal infusion therapy drug and reduced reimbursement resulting from the implementation of Louisiana Medicaid managed care.
EHR incentive payments as a percent of net revenue is a negative 2.6% for the three months ended September 30, 2011. This is related to the $659 of Medicaid EHR incentive payments recognized in the three months ended September 30, 2011. There were no Medicaid EHR incentive payments recognized in the three months ended September 30, 2012.
Earnings from discontinued operations of $198 for the three months ended September 30, 2012 resulted from the Dexter Hospital, LLC (Dexter) pre-tax earnings from operation of $432, Memorial Hospital of Adel and Memorial Convalescent Center (collectively Memorial) pre-tax losses from operations of $21 and a gain from the sale of Memorial of $1,191. The earnings from discontinued operations for the three months ended September 30, 2012 also was partially offset by $34 of losses resulting from pension items relating to discontinued operations. Tax expense for discontinued operations for the three months ended September 30, 2023 was $1,370. Our effective tax rate for discontinued operations during the three months ended September 30, 2012 was 104.1%, which is primarily due to the non-deductibility of approximately $1,600 of the recorded value of the intangible assets sold in the sale of Memorial.
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Sunlink Health Systems Inc has a market cap of $11.7 million; its shares were traded at around $1.1299 with a P/E ratio of 5.9 and P/S ratio of 0.1. Sunlink Health Systems Inc had an annual average earning growth of 2.6% over the past 10 years.
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Net revenues for the three months ended September 30, 2012 were $18,941 with a total of 3,158 equivalent admissions and revenue per equivalent admission of $5,987 compared to net revenues of $18,422 with a total of 3,231 equivalent admissions and revenue per equivalent admission of $5,699 for the quarter ended September 30, 2011.As a percentage of net revenue, Medicare increased in the three months ended September 30, 2012 compared to the prior year period as a result of increased Medicare admissions and the opening of two Geriatric Psychiatry Units (GPUs) in July 2012. These two new GPUs had net Medicare revenue of $814 for the three months ended September 30, 2012. Medicare net revenue increased to $9,375 for the three months ended September 30, 2012 from $8,817 for the three months ended September 30, 2011. Medicaid as a percentage of net revenue decreased slightly due to decreased nursing home reimbursement. Medicaid revenue decreased from $2,863 for the three months end September 30, 2011 to $2,839 for the three months ended September 30, 2012. Managed care and other revenue decreased from $6,513 for the three months ended September 30, 2011 to $6,495 for the three months ended September 30, 2012. Self-pay revenue as a percentage of net patient revenue increased slightly for the three months ended September 30, 2012 due to an increase in emergency room visits compared to the prior year period. Self-pay revenue increased from $3,497 in the three months ended September 30, 2011 to $3,667 for the three months ended September 30, 2012.
Specialty Pharmacy net revenues for the three months ended September 30, 2012 was $6,749, a decrease of $1,006, or 12.9%, from $7,775 for the three months ended September 30, 2011. The decrease was largely due to the loss of certain institutional direct-servicing and management contracts, a decrease in the sale of a seasonal infusion therapy drug and reduced reimbursement resulting from the implementation of Louisiana Medicaid managed care.
EHR incentive payments as a percent of net revenue is a negative 2.6% for the three months ended September 30, 2011. This is related to the $659 of Medicaid EHR incentive payments recognized in the three months ended September 30, 2011. There were no Medicaid EHR incentive payments recognized in the three months ended September 30, 2012.
Earnings from discontinued operations of $198 for the three months ended September 30, 2012 resulted from the Dexter Hospital, LLC (Dexter) pre-tax earnings from operation of $432, Memorial Hospital of Adel and Memorial Convalescent Center (collectively Memorial) pre-tax losses from operations of $21 and a gain from the sale of Memorial of $1,191. The earnings from discontinued operations for the three months ended September 30, 2012 also was partially offset by $34 of losses resulting from pension items relating to discontinued operations. Tax expense for discontinued operations for the three months ended September 30, 2023 was $1,370. Our effective tax rate for discontinued operations during the three months ended September 30, 2012 was 104.1%, which is primarily due to the non-deductibility of approximately $1,600 of the recorded value of the intangible assets sold in the sale of Memorial.
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