SunLink Health Systems Inc (SSY, Financial) filed Quarterly Report for the period ended 2009-03-31.
SunLink Health Systems Inc. operates two business segments the United States community hospital segment and the United Kingdom housewares segment. The U.S. community hospital segment is comprised of community hospitals and related businesses in the U.S. which are operated through its subsidiary SunLink Healthcare Corp. The United Kingdom housewares segment manufactures and distributes through its Beldray Limited subsidiary housewares products in the United Kingdom. SunLink Health Systems Inc has a market cap of $18 million; its shares were traded at around $2.25 with a P/E ratio of 12.5 and P/S ratio of 0.2. SunLink Health Systems Inc had an annual average earning growth of 7.1% over the past 5 years.
Net revenue for the three months ended March 31, 2009 and 2008, included net revenues of $1,442 and $1,633, respectively, from state indigent care programs. Net revenues included an increase of $119 and an increase of $116 for the three months ended March 31, 2009 and 2008, respectively, for the settlements and filings of prior year Medicare and Medicaid cost reports.
Net revenues for the nine months ended March 31, 2009 were $113,271 with a total of 18,548 equivalent admissions and revenue per equivalent admission of $6,107 compared to net revenues of $114,612 with a total of 19,272 equivalent admissions and revenue per equivalent admission of $5,947 for the nine months ended March 31, 2008.
The 1.2% decrease in net revenues for the nine months ended March 31, 2009 was primarily due to net outpatient service revenue decreases and decreases in Medicare, Medicaid and self pay revenues. Net outpatient service revenues decreased $425, a 0.8% decrease from last year to $55,814 for the nine months ended March 31, 2009 and but increased to 49.3% of net revenues from 49.1% last year. Medicare revenues decreased $891 and self pay decreased $755, respectively, from last year the nine months ended March 31, 2008.
Net revenue for the nine months ended March 31, 2009 and 2008, included net revenues of $2,082 and $2,257, respectively, from state indigent care programs. Net revenues included an increase of $391 and an increase of $439 for the nine months ended March 31, 2009 and 2008, respectively, for the settlements and filings of prior year Medicare and Medicaid cost reports.
We added nine net new doctors during the year ended June 30, 2008, and two net new doctors during the nine months ended March 31, 2009. During the nine months ended March 31, 2009, SunLink expensed $598 on physician guarantees and recruiting expenses compared to $432 for the same period last year. We also have expended approximately $9,369 for capital expenditures to upgrade services and facilities at our Healthcare Facilities since July 1, 2007.
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SunLink Health Systems Inc. operates two business segments the United States community hospital segment and the United Kingdom housewares segment. The U.S. community hospital segment is comprised of community hospitals and related businesses in the U.S. which are operated through its subsidiary SunLink Healthcare Corp. The United Kingdom housewares segment manufactures and distributes through its Beldray Limited subsidiary housewares products in the United Kingdom. SunLink Health Systems Inc has a market cap of $18 million; its shares were traded at around $2.25 with a P/E ratio of 12.5 and P/S ratio of 0.2. SunLink Health Systems Inc had an annual average earning growth of 7.1% over the past 5 years.
Highlight of Business Operations:
Net revenues for the quarter ended March 31, 2009 were $39,774 with a total of 6,245 equivalent admissions and revenue per equivalent admission of $6,369 compared to net revenues of $39,407 with a total of 6,490 equivalent admissions and revenue per equivalent admission of $6,072 for the quarter ended March 31, 2008.Net revenue for the three months ended March 31, 2009 and 2008, included net revenues of $1,442 and $1,633, respectively, from state indigent care programs. Net revenues included an increase of $119 and an increase of $116 for the three months ended March 31, 2009 and 2008, respectively, for the settlements and filings of prior year Medicare and Medicaid cost reports.
Net revenues for the nine months ended March 31, 2009 were $113,271 with a total of 18,548 equivalent admissions and revenue per equivalent admission of $6,107 compared to net revenues of $114,612 with a total of 19,272 equivalent admissions and revenue per equivalent admission of $5,947 for the nine months ended March 31, 2008.
The 1.2% decrease in net revenues for the nine months ended March 31, 2009 was primarily due to net outpatient service revenue decreases and decreases in Medicare, Medicaid and self pay revenues. Net outpatient service revenues decreased $425, a 0.8% decrease from last year to $55,814 for the nine months ended March 31, 2009 and but increased to 49.3% of net revenues from 49.1% last year. Medicare revenues decreased $891 and self pay decreased $755, respectively, from last year the nine months ended March 31, 2008.
Net revenue for the nine months ended March 31, 2009 and 2008, included net revenues of $2,082 and $2,257, respectively, from state indigent care programs. Net revenues included an increase of $391 and an increase of $439 for the nine months ended March 31, 2009 and 2008, respectively, for the settlements and filings of prior year Medicare and Medicaid cost reports.
We added nine net new doctors during the year ended June 30, 2008, and two net new doctors during the nine months ended March 31, 2009. During the nine months ended March 31, 2009, SunLink expensed $598 on physician guarantees and recruiting expenses compared to $432 for the same period last year. We also have expended approximately $9,369 for capital expenditures to upgrade services and facilities at our Healthcare Facilities since July 1, 2007.
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