SunLink Health Systems Inc (SSY, Financial) filed Quarterly Report for the period ended 2009-12-31.
Sunlink Health Systems Inc has a market cap of $14.1 million; its shares were traded at around $1.75 with a P/E ratio of 6.7 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.
Net revenue for the three months ended December 31, 2009 and 2008, included $538 and $210, respectively, from state indigent care programs. Net revenues included an increase of $559 and $24 for the three months ended December 31, 2009 and 2008, respectively, for the settlements and filings of prior year Medicare and Medicaid cost reports. Net revenue for the six months ended December 31, 2009 and 2008, included $950 and $640, respectively, from state indigent care programs. Net revenues included an increase of $459 and $272 for the six months ended December 31, 2009 and 2008, respectively, for the settlements and filings of prior year Medicare and Medicaid cost reports.
We added seven net new doctors during the year ended June 30, 2009 and six net new doctors during the six months ended December 31, 2009. During the three and six months ended December 31, 2009, SunLink expensed $207 and $434, respectively, on physician guarantees and recruiting expenses compared to $195 and $384, respectively, for the same period last year. We also have expended approximately $3,038 for capital expenditures to upgrade services and facilities since July 1, 2008.
Specialty Pharmacy net revenue for the three months ended December 31, 2009 was $12,526, a decrease of $802, or 6.0%, from $13,328 for the three months ended December 31, 2008. The decrease resulted from a decrease in pharmacy revenue, primarily one infusion therapy drug prescribed for premature babies at high risk for lung disease, and durable medical equipment sales. The major revenue source for the infusion therapy drug is Louisiana Medicaid, which has reduced the utilization of the drug this fiscal year. This reduced utilization reduced Specialty Pharmacy revenue by $1,228 and $491 for three and six months ended December 31, 2009, respectively. For the six months ended December 31, 2009, Specialty Pharmacy net revenue was $22,858, a decrease of $81, or 0.4%, from $22,939 for the six months ended December 31, 2008.
Costs and expenses for our Healthcare Facilities, including depreciation and amortization, were $36,309 and $35,054 for the three months ended December 31, 2009 and 2008, respectively, and $73,128 and $70,761 for the six months ended December 31, 2009 and 2008, respectively.
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Sunlink Health Systems Inc has a market cap of $14.1 million; its shares were traded at around $1.75 with a P/E ratio of 6.7 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.
Highlight of Business Operations:
Net revenues for the quarter ended December 31, 2009 were $37,619 with a total of 5,955 equivalent admissions and revenue per equivalent admission of $6,317 compared to net revenues of $36,430 with a total of 6,180 equivalent admissions and revenue per equivalent admission of $5,895 for the quarter ended December 31, 2008.Net revenue for the three months ended December 31, 2009 and 2008, included $538 and $210, respectively, from state indigent care programs. Net revenues included an increase of $559 and $24 for the three months ended December 31, 2009 and 2008, respectively, for the settlements and filings of prior year Medicare and Medicaid cost reports. Net revenue for the six months ended December 31, 2009 and 2008, included $950 and $640, respectively, from state indigent care programs. Net revenues included an increase of $459 and $272 for the six months ended December 31, 2009 and 2008, respectively, for the settlements and filings of prior year Medicare and Medicaid cost reports.
We added seven net new doctors during the year ended June 30, 2009 and six net new doctors during the six months ended December 31, 2009. During the three and six months ended December 31, 2009, SunLink expensed $207 and $434, respectively, on physician guarantees and recruiting expenses compared to $195 and $384, respectively, for the same period last year. We also have expended approximately $3,038 for capital expenditures to upgrade services and facilities since July 1, 2008.
Specialty Pharmacy net revenue for the three months ended December 31, 2009 was $12,526, a decrease of $802, or 6.0%, from $13,328 for the three months ended December 31, 2008. The decrease resulted from a decrease in pharmacy revenue, primarily one infusion therapy drug prescribed for premature babies at high risk for lung disease, and durable medical equipment sales. The major revenue source for the infusion therapy drug is Louisiana Medicaid, which has reduced the utilization of the drug this fiscal year. This reduced utilization reduced Specialty Pharmacy revenue by $1,228 and $491 for three and six months ended December 31, 2009, respectively. For the six months ended December 31, 2009, Specialty Pharmacy net revenue was $22,858, a decrease of $81, or 0.4%, from $22,939 for the six months ended December 31, 2008.
Costs and expenses for our Healthcare Facilities, including depreciation and amortization, were $36,309 and $35,054 for the three months ended December 31, 2009 and 2008, respectively, and $73,128 and $70,761 for the six months ended December 31, 2009 and 2008, respectively.
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