The positive fourth quarter kept SunLink in the black for FY 2012, as it recorded a profit of $1.08 million on the year compared with a net loss of $16.1 million last year.
SunLink has consistently posted quarterly losses over the past couple years, including parts of 2012. In the third quarter, SunLink recorded a net loss of $1.54 million alone.
SunLink executives said Medicare electronic health record incentive payments boosted the fourth quarter earnings, and SunLink Chairman and CEO Robert Thornton Jr. said in the news release that 2012 was a transition year toward better outcomes.
“Our efforts this year have been focused on improving the position of our hospital facilities through cost controls, technology upgrades and additional specialized services while improving our balance sheets with facility-specific refinancings and the sale of underperforming assets,” Mr. Thornton said. “While our efforts are a work-in-progress, we made significant strides this year that we believe will benefit our shareholders as we move forward.”
More Articles on SunLink Health Systems:
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In Red Ink: SunLink Health Systems Reports $1.5M Loss in 3Q
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