SunLink Health Systems, Inc. (NYSE Amex Equities: SSY) today reported an operating profit from continuing operations for the quarter ended December 31, 2010 of $171,000 compared to an operating profit for the quarter ended December 31, 2009 of $77,000. Adjusted EBITDA at SunLink’s Healthcare Facilities Segment (a non-GAAP measure of the liquidity of a company) in the second fiscal quarter increased to $2,863,000 from $2,479,000 in the comparable quarter a year ago. Adjusted EBITDA for SunLink’s Specialty Pharmacy Segment in the quarter ended December 31, 2010 increased to $386,000 from $336,000 in the comparable quarter a year ago.
For the six-month period ended December 31, 2010, the company reported an operating loss of $2,437,000 compared to an operating profit of $2,125,000 in the same fiscal period a year ago. The operating profit for the six months ended December 31, 2009 included a pre-tax gain of $2,342,000 relating to the sale of three home health businesses. Adjusted EBITDA for the six-month period at SunLink’s Healthcare Facilities Segment was $2,821,000 compared to $4,308,000 in the comparable period last year. Adjusted EBITDA for SunLink’s Specialty Pharmacy Segment in the six-month period was $569,000 versus $996,000 a year ago.
Commenting on the results, Robert M. Thornton, Jr., CEO of SunLink, stated, “We have seen encouraging initial results from our initiatives to improve the operating results in our business segments, and we continue to pursue revenue and cost initiatives in both segments. However, there is still a great deal of work left to do. Over the last six months we have invested $673,000 in capital for improvements and upgrades in our facilities. We have also implemented programs in each facility to aggressively market our hospitals, physicians and clinics to our communities. We have spent over $250,000 to upgrade our technology and systems, and added two corporate information technology personnel to make our operations more efficient and create a better experience for our patients and physicians. We believe these initiatives position us to generate positive returns from an economic upturn and maintain appropriate discipline during these difficult times.”
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV