SunLink Health Systems Inc (SSY, Financial) filed Quarterly Report for the period ended 2010-09-30.
Sunlink Health Systems Inc has a market cap of $14.93 million; its shares were traded at around $1.85 with and P/S ratio of 0.08. Sunlink Health Systems Inc had an annual average earning growth of 16.7% over the past 10 years.
Net outpatient revenue was $18,383, or 52.1% of the segments net revenues, for the three months ended September 30, 2010 compared to $20,183, or 53.1% of the segments net revenues, for the prior years comparable quarter. Net revenue for the three months ended September 30, 2010 and 2009, included $842 and $928, respectively, from state indigent care programs. Net revenues include an increase of $9 and a decrease of $100 for the three months ended September 30, 2010 and 2009, respectively, for the settlements and filings of prior year Medicare and Medicaid cost reports.
Specialty Pharmacy net revenue for the three months ended September 30, 2010 was $8,902, a decrease of $1,124, or 11%, from $10,026 for the three months ended September 30, 2009. The decrease was primarily due to lower sales of a seasonal infusion therapy drug this year than last year due to the deferral of the start and the shortening of the overall dosage regimen period under Louisiana Medicaid this year. Sales of durable medical equipment also decreased slightly this year.
Cost and expenses for corporate overhead including corporate depreciation, was $1,271 and $1,228 for the three months ended September 30, 2010 and 2009, respectively. The increase in the quarter ended September 30, 2010 was primarily due to $62 of strategic alternative expense in the current years quarter compared to $0 in the same quarter of the prior year.
In September 2009, the Company sold three of its home health businesses for approximately $3,300 resulting in a pre-tax gain of approximately $2,342. Included in the net assets of the three home health businesses sold was $429 of goodwill related to the Healthcare Facilities Segment. The home health businesses were located in Adel, GA, Clanton, AL and Fulton, MO.
Income tax benefit of $810 ($1,005 federal tax benefit and $195 state tax expense) and income tax expense of $583 ($526 federal tax expense and $57 state tax expense) were recorded for the three months ended September 30, 2010 and 2009, respectively.
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Sunlink Health Systems Inc has a market cap of $14.93 million; its shares were traded at around $1.85 with and P/S ratio of 0.08. Sunlink Health Systems Inc had an annual average earning growth of 16.7% over the past 10 years.
Highlight of Business Operations:
Net revenues for the quarter ended September 30, 2010 were $35,302 with a total of 5,869 equivalent admissions and revenue per equivalent admission of $6,015 compared to net revenues of $38,041 with a total of 6,423 equivalent admissions and revenue per equivalent admission of $5,923 for the quarter ended September 30, 2009.Net outpatient revenue was $18,383, or 52.1% of the segments net revenues, for the three months ended September 30, 2010 compared to $20,183, or 53.1% of the segments net revenues, for the prior years comparable quarter. Net revenue for the three months ended September 30, 2010 and 2009, included $842 and $928, respectively, from state indigent care programs. Net revenues include an increase of $9 and a decrease of $100 for the three months ended September 30, 2010 and 2009, respectively, for the settlements and filings of prior year Medicare and Medicaid cost reports.
Specialty Pharmacy net revenue for the three months ended September 30, 2010 was $8,902, a decrease of $1,124, or 11%, from $10,026 for the three months ended September 30, 2009. The decrease was primarily due to lower sales of a seasonal infusion therapy drug this year than last year due to the deferral of the start and the shortening of the overall dosage regimen period under Louisiana Medicaid this year. Sales of durable medical equipment also decreased slightly this year.
Cost and expenses for corporate overhead including corporate depreciation, was $1,271 and $1,228 for the three months ended September 30, 2010 and 2009, respectively. The increase in the quarter ended September 30, 2010 was primarily due to $62 of strategic alternative expense in the current years quarter compared to $0 in the same quarter of the prior year.
In September 2009, the Company sold three of its home health businesses for approximately $3,300 resulting in a pre-tax gain of approximately $2,342. Included in the net assets of the three home health businesses sold was $429 of goodwill related to the Healthcare Facilities Segment. The home health businesses were located in Adel, GA, Clanton, AL and Fulton, MO.
Income tax benefit of $810 ($1,005 federal tax benefit and $195 state tax expense) and income tax expense of $583 ($526 federal tax expense and $57 state tax expense) were recorded for the three months ended September 30, 2010 and 2009, respectively.
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