(Source: Business Wire)
Dynacq Healthcare, Inc. (DYII) today reported a loss from continuing
operations for the year ended August 31, 2009 of $0.03 per share
compared to income from continuing operations of $0.32 per share in the
previous year. The share amounts are calculated on a fully diluted basis.
The U.S. Division's net patient service revenues for the year ended
August 31, 2009 decreased by $12.7 million, or 21%, from $60.3 million
in 2008 to $47.6 million in 2009, primarily due to lower reimbursements
on workers' compensation cases, and due to a 41% decrease in the number
of inpatient cases. Gross billed charges and net patient service
revenues were also negatively impacted byHurricane Ike in the month of
September 2008 for our Pasadena facility, which was not in full
operation for approximately three weeks.
The China Division contributed to net patient service revenues for the
first time in fiscal year 2009, and had nine months of operations with
net patient service revenues of $1.8 million from the management of
Second People's Hospital in Rui An, China, and incurred a loss before
income taxes of $4.5 million, due in large part to a $2.5 million
impairment of management rights.
Net loss for the year ended August 31, 2009 was $484,000, or $0.03 per
share, compared to a net income of $8.4 million, or $0.51 per share, for
the same period in 2008, in part because the Company sold its Baton
Rouge facility, which was reported as discontinued operations, during
fiscal year 2008. The gain on sale of this facility was $3.1 million, or
$0.19 per share, net of income taxes.
Dynacq Healthcare, Inc. ("www.dynacq.com")
is a holding company. Its subsidiaries provide surgical healthcare
services and related ancillary services through hospital facilities.
A service of YellowBrix, Inc.
