This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

SunLink Health Systems, Inc. Announces Fiscal 2013 Second Quarter And Six Months Results

Stocks in this article: SSY

Please replace the release dated February 14, 2013 with the following corrected version due to revisions to SunLink Health Systems, Inc.'s boilerplate.

The corrected release reads:

SUNLINK HEALTH SYSTEMS, INC. ANNOUNCES FISCAL 2013 SECOND QUARTER AND SIX MONTHS RESULTS

SunLink Health Systems, Inc. (NYSE MKT: SSY) today announced net earnings for its second fiscal quarter ended December 31, 2012 of $3,935,000, or $0.42 per fully diluted share, compared to a net loss of $935,000, or a loss of $0.10 per fully diluted share, for the quarter ended December 31, 2011. The results for the quarter ended December 31, 2012 include earnings from discontinued operations of $5,330,000 which resulted primarily from an after tax gain of approximately $5,200,000 on the December 31, 2012 sale of substantially all of the assets of its Dexter Hospital, LLC subsidiary. SunLink reported a loss from continuing operations for its second fiscal quarter ended December 31, 2012 of $1,395,000, or $0.15 per fully diluted share, compared to a loss from continuing operations of $1,397,000, or a loss of $0.15 per fully diluted share, for the quarter ended December 31, 2011.

Consolidated net revenues from continuing operations for the quarters ended December 31, 2012 and 2011 were $27,850,000 and $29,025,000, respectively, a decrease of 4.0% in the current year’s quarter. The Healthcare Facilities Segment net revenues in the current quarter of $18,610,000 increased $257,000, or 1.4%, compared to $18,353,000 from the prior year. The Specialty Pharmacy Segment revenues of $9,240,000 in the quarter ended December 31, 2012 decreased $1,432,000, or 13.4% from the prior year.

The company had an operating loss from continuing operations for the quarter ended December 31, 2012 of $974,000, compared to an operating loss from continuing operations for the quarter ended December 31, 2011 of $1,059,000. The operating margin increased in the current year’s quarter primarily due to the $1,024,000 of Medicaid electronic health records incentive payments compared to $613,000 of Medicaid electronic health records incentive payments in the quarter ended December 31, 2011. Adjusted EBITDA (a non-GAAP measure of the liquidity of the company) at SunLink’s Healthcare Facilities Segment in the second fiscal quarter of 2013 was $934,000, which included $1,024,000 of Medicaid electronic health records incentive payments, compared to $902,000 in the same quarter last year which included $613,000 of Medicaid electronic health records incentive payments. Adjusted EBITDA for SunLink’s Specialty Pharmacy Segment was $124,000 in the second fiscal quarter compared to Adjusted EBITDA of $285,000 in the comparable quarter a year ago.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,191.37 -195.84 -1.13%
S&P 500 2,002.16 -27.39 -1.35%
NASDAQ 4,637.9940 -43.5030 -0.93%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs