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SunLink Health Systems, Inc. Announces Fiscal 2012 Second Quarter And Six Month Results

SunLink Health Systems, Inc. (NYSE Amex Equities: SSY) today announced a loss from continuing operations for its second fiscal quarter ended December 31, 2011 of $1,586,000, or a loss of $0.17 per fully diluted share, compared to a loss from continuing operations of $2,100,000, or a loss of $0.26 per fully diluted share for the quarter ended December 31, 2010. For the six month period ended December 31, 2011 the company reported a loss from continuing operations of $1,891,000, or a loss of $0.20 per fully diluted share, compared to a loss from continuing operations of $4,364,000, or $0.54 loss per fully diluted share, for the six months ended December 31, 2010.

SunLink reported a net loss of $1,600,000, or a loss of $0.17 per fully diluted share for the quarter ended December 31, 2011, compared to a net loss of $1,765,000, or a loss of $0.22 per fully diluted share, for the comparable quarter a year ago. For the six month period ended December 31, 2011 the company reported a net loss of $1,918,000, or a loss of $0.21 per fully diluted share, compared to a net loss of $4,534,000, or a loss of $0.56 per fully diluted share in the comparable period last year.

Consolidated net revenues from continuing operations for the quarters ended December 31, 2011 and 2010 were $41,231,000 and $45,053,000, respectively, a decrease of 8.5% in the current year’s quarter. The Healthcare Facilities Segment net revenues in the current quarter of $30,559,000 decreased $3,010,000, or 9.0%, compared to $33,569,000 from the prior year. The Specialty Pharmacy Segment revenues of $10,672,000 in the quarter ended December 31, 2011 decreased 7.1% from the prior year. Consolidated net revenues from continuing operations for the six months ended December 31, 2011 decreased by 1.9% to $84,284,000 compared to $85,919,000 in the comparable period a year ago. The Healthcare Facilities Segment had net revenues in the six months ended December 31, 2011 of $65,857,000 compared to $65,534,000 last year. The Specialty Pharmacy Segment had $18,427,000 of net revenue for the six months ended December 31, 2011 compared to $20,385,000 in the comparable period a year ago.

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