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SunLink Health Systems Inc. (SSY+0.27%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports net revenues of $7,935,000 for the quarter, a decrease from $8,510,000 in the same quarter the previous year. The decline is attributed to lower retail pharmacy scripts and durable medical equipment orders.
Operating loss for the quarter was $1,012,000, compared to $433,000 in the previous year, due to decreased revenues and increased costs as a percentage of net revenues.
The company reported a net loss of $1,343,000 for the quarter, compared to a net loss of $3,075,000 in the previous year. Loss from continuing operations was $1,070,000, while loss from discontinued operations was $273,000.
Cash and cash equivalents increased to $8,020,000 as of December 31, 2024, from $7,170,000 at the end of the previous fiscal year.
SunLink announced a merger agreement with Regional Health Properties, Inc., which is subject to shareholder and regulatory approvals. If completed, Regional will be the surviving entity.
The filing also details the sale of Trace Regional Hospital and related assets, with net proceeds retained for working capital and corporate purposes.
The company continues to face challenges from the aftermath of the COVID-19 pandemic, including hiring difficulties and supply chain issues.
SunLink's pharmacy business remains its primary operation, with revenues from retail and institutional pharmacy services.
The company has no outstanding debt as of December 31, 2024, and expects to make capital expenditures for its pharmacy operations in the coming year.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the SunLink Health Systems Inc. quarterly 10-Q report dated February 12, 2025. To report an error, please email earnings@qz.com.