SunLink Health Systems Inc (SSY, Financial) filed Amended Quarterly Report for the period ended 2008-12-31.
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 $17.8 million; its shares were traded at around $2.23 with a P/E ratio of 7.9 and P/S ratio of 0.1. Sunlink Health Systems Inc had an annual average earning growth of 7.1% over the past 5 years.
The 1.46% decrease in net revenues for the quarter ended December 31, 2008 was primarily due to increases in outpatient revenue and self pay offset by decreases in Medicaid and commercial insurance and other. Outpatient revenue increased $370, a 2.0% increase from last year, to $18,559 for the three months ended December 31, 2008. Self pay revenue increased $138, a 0.6% increase from last year, to $18,559 for the three months ended December 31, 2008. Medicaid revenues decreased $324, a 0.7% decrease from last year, to $5,171 for the three months ended December 31, 2008. Commercial Insurance & other revenues decreased $710, a 1.5% decrease from last year to $11,252 for the three months ended December 31, 2008.
Net revenue for the three months ended December 31, 2008 and 2007, included net revenues of $210 and $363, respectively, from state indigent care programs. Net revenues included an increase of $23 and an increase of $249 for the three months ended December 31, 2008 and 2007, respectively, for the settlements and filings of prior year Medicare and Medicaid cost reports.
The 2.27% decrease in net revenues for the six months ended December 31, 2008 was primarily due to net outpatient service revenue decreases and decreases in Medicaid and self pay revenues. Net outpatient service revenues decreased $1,070, a 2.8% decrease from last year to $37,040 for the six months ended December 31, 2008 and decreased to 50.4% of net revenues from 50.7% last year. Medicaid revenues decreased $484, a 0.3% decrease from last year to $10,358 for the six months ended December 31, 2008. Self pay revenues decreased $1,196, a 1.3% decrease from last year to $9,369 for the six months ended December 31, 2008.
Net revenue for the six months ended December 31, 2008 and 2007, included net revenues of $640 and $624, respectively, from state indigent care programs. Net revenues included an increase of $271 and $324 for the six months ended December 31, 2008 and 2007, respectively, for the settlements and filings of prior year Medicare and Medicaid cost reports.
Cost and expenses for our Healthcare Facilities including depreciation and amortization, was $35,054 and $35,217 for the three months ended December 31, 2008 and 2007, respectively, and $70,761 and $71,115 for the six months ended December 31, 2008 and 2007, respectively.
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Highlight of Business Operations:
Net revenues for the quarter ended December 31, 2008 were $36,430 with a total of 6,180 equivalent admissions and revenue per equivalent admission of $5,895 compared to net revenues $36,969 with a total of 6,114 equivalent admissions and revenue per equivalent admission of $6,047 for the quarter ended December 31, 2007.The 1.46% decrease in net revenues for the quarter ended December 31, 2008 was primarily due to increases in outpatient revenue and self pay offset by decreases in Medicaid and commercial insurance and other. Outpatient revenue increased $370, a 2.0% increase from last year, to $18,559 for the three months ended December 31, 2008. Self pay revenue increased $138, a 0.6% increase from last year, to $18,559 for the three months ended December 31, 2008. Medicaid revenues decreased $324, a 0.7% decrease from last year, to $5,171 for the three months ended December 31, 2008. Commercial Insurance & other revenues decreased $710, a 1.5% decrease from last year to $11,252 for the three months ended December 31, 2008.
Net revenue for the three months ended December 31, 2008 and 2007, included net revenues of $210 and $363, respectively, from state indigent care programs. Net revenues included an increase of $23 and an increase of $249 for the three months ended December 31, 2008 and 2007, respectively, for the settlements and filings of prior year Medicare and Medicaid cost reports.
The 2.27% decrease in net revenues for the six months ended December 31, 2008 was primarily due to net outpatient service revenue decreases and decreases in Medicaid and self pay revenues. Net outpatient service revenues decreased $1,070, a 2.8% decrease from last year to $37,040 for the six months ended December 31, 2008 and decreased to 50.4% of net revenues from 50.7% last year. Medicaid revenues decreased $484, a 0.3% decrease from last year to $10,358 for the six months ended December 31, 2008. Self pay revenues decreased $1,196, a 1.3% decrease from last year to $9,369 for the six months ended December 31, 2008.
Net revenue for the six months ended December 31, 2008 and 2007, included net revenues of $640 and $624, respectively, from state indigent care programs. Net revenues included an increase of $271 and $324 for the six months ended December 31, 2008 and 2007, respectively, for the settlements and filings of prior year Medicare and Medicaid cost reports.
Cost and expenses for our Healthcare Facilities including depreciation and amortization, was $35,054 and $35,217 for the three months ended December 31, 2008 and 2007, respectively, and $70,761 and $71,115 for the six months ended December 31, 2008 and 2007, respectively.
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