Dynacq Healthcare Inc. (DYII, Financial) filed Quarterly Report for the period ended 2008-11-30.
Dynacq Healthcare Inc. is a holding company. Its subsidiaries provide surgical healthcare services and related ancillary services through hospital facilities and outpatient surgical centers. Dynacq Healthcare Inc. has a market cap of $66.44 million; its shares were traded at around $4.05 with a P/E ratio of 7.3 and P/S ratio of 1.1.
Total costs and expenses increased by $1,690,225, or 16%, from $10,310,905 in 2007 to $12,001,130 in 2008. The following discusses the various changes in costs and expenses:
Other operating expenses for the U.S. Division increased by $786,838, or 23%, from $3,356,931 in 2007 to $4,143,769 in 2008. The increase is primarily due to marketing expenses. Other operating expenses as a percentage of gross billed charges is consistent at 11% for both the quarters ended November 30, 2008 and 2007.
Other operating expenses for the China Division increased by $147,299, or 43%, from $344,478 in 2007 to $491,777 in 2008. In 2007, development costs were incurred for the construction of a hospital in Shanghai. However, in 2008, the Company sold its interest in the property owned by that joint venture.
Total cash flow used in operating activities was $2,663,399 during the period ended November 30, 2008, primarily due to a net loss of $642,552, decreases in accounts payable and accrued liabilities of $2,177,926, payment of income taxes of $7,142,944, partially offset by decreases in accounts receivable of $6,969,959 and depreciation and amortization of $394,224.
Total cash flow used in investing activities was $3,965,787 primarily due to investment in securities of $3,906,000.
Read the The complete ReportMore on DYII:
Gurus buys and sells of DYII
10-year financial history of DYII.
Insider buys/sells of DYII.
Dynacq Healthcare Inc. is a holding company. Its subsidiaries provide surgical healthcare services and related ancillary services through hospital facilities and outpatient surgical centers. Dynacq Healthcare Inc. has a market cap of $66.44 million; its shares were traded at around $4.05 with a P/E ratio of 7.3 and P/S ratio of 1.1.
Highlight of Business Operations:
Net patient service revenue decreased by $2,963,080, or 21%, from $13,842,318 to $10,879,238, and total surgical cases increased by 13% from 714 cases to 808 cases for the quarters ended November 30, 2007 and 2008, respectively. Even though the number of cases and the gross billed charges increased by 13% and 28%, respectively, the decrease in net patient service revenue is due to an increase in the contractual allowance as a percentage of gross billed charges. The contractual allowance increased from 54% for the quarter ended November 30, 2007 to 72% of gross billed charges for the quarter ended November 30, 2008, due to lower reimbursements, primarily on workers compensation cases. Gross billed charges and net patient service revenues were also negatively impacted by Hurricane Ike in the month of September 2008 for our Pasadena Facility, which was not in full operations for about three weeks. Following are the percentage changes in net patient service revenues and number of cases at the hospital facilities:Total costs and expenses increased by $1,690,225, or 16%, from $10,310,905 in 2007 to $12,001,130 in 2008. The following discusses the various changes in costs and expenses:
Other operating expenses for the U.S. Division increased by $786,838, or 23%, from $3,356,931 in 2007 to $4,143,769 in 2008. The increase is primarily due to marketing expenses. Other operating expenses as a percentage of gross billed charges is consistent at 11% for both the quarters ended November 30, 2008 and 2007.
Other operating expenses for the China Division increased by $147,299, or 43%, from $344,478 in 2007 to $491,777 in 2008. In 2007, development costs were incurred for the construction of a hospital in Shanghai. However, in 2008, the Company sold its interest in the property owned by that joint venture.
Total cash flow used in operating activities was $2,663,399 during the period ended November 30, 2008, primarily due to a net loss of $642,552, decreases in accounts payable and accrued liabilities of $2,177,926, payment of income taxes of $7,142,944, partially offset by decreases in accounts receivable of $6,969,959 and depreciation and amortization of $394,224.
Total cash flow used in investing activities was $3,965,787 primarily due to investment in securities of $3,906,000.
Read the The complete ReportMore on DYII:
Gurus buys and sells of DYII
10-year financial history of DYII.
Insider buys/sells of DYII.
