Cone Health operating income soars 128% in Q1

Cone Health, a nonprofit health system based in Greensboro, N.C., reported its operating income jumped to $27.8 million in the second quarter of fiscal 2015, up from $12.2 million in the same period a year ago.

The system posted revenue of $752.4 million for the second quarter, up 11.3 percent from the same period of last year, with net patient service revenue increasing 11.6 percent.

Cone Health did take a major hit on its investments in the second quarter of fiscal 2015, with its investment income dropping to $1.7 million, down 91.8 percent from the same period of last year.

However, due to the system's positive operating performance, Cone Health ended the quarter with net income of $21.6 million, up from $20.2 million for the comparable period of 2014.

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