{"id":380960,"date":"2020-11-13T10:59:28","date_gmt":"2020-11-13T15:59:28","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=380960"},"modified":"2020-11-13T10:59:28","modified_gmt":"2020-11-13T15:59:28","slug":"sunlink-health-systems-inc-announces-fiscal-2021-first-quarter-results-and-covid-19-update","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sunlink-health-systems-inc-announces-fiscal-2021-first-quarter-results-and-covid-19-update\/","title":{"rendered":"SunLink Health Systems, Inc. Announces Fiscal 2021 First Quarter Results and COVID-19 Update"},"content":{"rendered":"

<\/p>\n

SunLink Health Systems, Inc. Announces Fiscal 2021 First Quarter Results and COVID-19 Update <\/b><\/p>\n

ATLANTA–(BUSINESS WIRE<\/a>)–
\nSunLink Health Systems, Inc. (NYSE American: SSY) today announced a loss from continuing operations of $291,000 (a loss of $0.04 per fully diluted share) for its first fiscal quarter ended September 30, 2020 compared to a loss of $143,000, (a loss of $0.02 per fully diluted share) for the quarter ended September 30, 2019. Net loss for the quarter ended September 30, 2020 was $340,000 (a loss of $0.05 per fully diluted share) compared to a net loss of $261,000 ($0.04 per fully diluted share) for the quarter ended September 30, 2019.\n<\/p>\n

\nConsolidated net revenues from continuing operations for the quarters ended September 30, 2020 and 2019 were $10,422,000 and $11,652,000, respectively, a decrease of 10.6% in the current fiscal year\u2019s first quarter compared to the comparable quarter of the prior fiscal year. Net revenues decreased in the current fiscal quarter primarily due to decreased hospital and nursing home net revenues and decreased Pharmacy segment revenues as a result of decreased sales in all product categories primarily due to the COVID-19 pandemic.\n<\/p>\n

\nSunLink reported an operating loss for the quarter ended September 30, 2020 of $323,000 compared to an operating loss for the quarter ended September 30, 2019 of $220,000.\n<\/p>\n

\nLoss from discontinued operations was $49,000 (or a loss of $0.01 per fully diluted share) for the quarter ended September 30, 2020 compared to a loss from discontinued operations of $118,000 ($0.02 per fully diluted share) for the quarter ended September 30, 2019.\n<\/p>\n

COVID-19 Pandemic<\/span><\/b><\/p>\n

\nA novel strain of coronavirus (\u201cCOVID-19\u201d) was declared a global pandemic by the World Health Organization on March 11, 2020. We have been monitoring the COVID-19 pandemic and its impact on our operations, and we have taken significant steps intended to minimize the risk to our employees and patients. Certain employees have been working remotely, but we believe these remote work arrangements have not materially affected our ability to maintain critical business operations, which are being conducted substantially in accordance with our understanding of applicable government health and safety protocols and guidance issued in response to the COVID-19 pandemic, although such protocols and guidance are very recent, rapidly changing and at times, unclear. Nevertheless, as in many healthcare environments, we have experienced COVID-19 illness, including deaths, and some employees have tested positive and were placed on leave or in quarantine.\n<\/p>\n

\nIn our Healthcare businesses, we have experienced material reductions in demand and net revenues due to the COVID-19 outbreak. There appears to be minimal current demand for nursing home admissions, and clinic visits and hospital services have substantially decreased as well in part due to the abrupt retirement of one physician and reduced capacity of other physicians and providers, all as a result of the effects of the pandemic. The availability and cost of medical supplies have adversely affected our Healthcare businesses, especially with respect to access to personal protective equipment, cleaning supplies and COVID-19 testing materials. We continue to monitor supplies and seek additional sources of many supply items. A reduction in the availability of qualified employees has also occurred and despite good faith efforts to do, we have not yet been able to rehire or fully replace staff reductions which were previously furloughed, laid off or retired.\n<\/p>\n

\nSince the beginning of the COVID-19 pandemic, our Pharmacy business has experienced reduced sales trends in certain areas, increased costs and reduced staff. Many of our primary physician referral sources have been operating at substantially reduced capacity. Until these referral sources are at full capacity, we believe the COVID-19 pandemic will continue to affect the demand for DME products and Retail and Institutional Pharmacy drugs and products. Reductions in employee hours have been made in response to the lower demand. Nursing homes and other customers of such Institutional Pharmacy services are currently being adversely affected by the spreading of the COVID-19 pandemic, and this may be expected to have a further negative effect on such demand. Our Institutional Pharmacy services have experienced increased costs and operational inefficiencies due to measures taken to protect our employees and by access controls and other restrictions implemented by our institutional customers. The impact of the COVID-19 pandemic has negatively affected our supply processes, especially with respect to access to respiratory equipment and certain personal protective equipment and cleaning products. We believe the effect of the COVID\u201319 pandemic and public and governmental responses to it negatively affected our last three fiscal quarters results.\n<\/p>\n

\nDuring the fourth quarter of fiscal 2020, our Healthcare and Pharmacy segments received approximately $4,586,000 and in the first quarter of fiscal 2021 we received $106,000 in general and targeted Provider Relief Fund (\u201cPRF\u201d) distributions. During the fourth quarter of fiscal 2020, we also received $3,234,000 in Paycheck Protection Program (\u201cPPP\u201d) loans, administered by the Small Business Administration (\u201cSBA\u201d). Both the PRF and PPP funds are provided for under the Coronavirus Aid Relief and Economic Security (\u201cCARES\u201d) Act, and we have received a total of $7,926,000 of such funding.\n<\/p>\n

\nThe distributions from the PRF are not subject to repayment provided we are able to attest to and comply with the terms and conditions of the funding, including demonstrating that the funds received have been used for healthcare-related expenses or \u201cLost Revenues\u201d (as defined by HHS) attributable to COVID-19. Such funds under the PRF are accounted for as government grants and are recognized on a systematic and rational basis once there is reasonable assurance that the applicable terms and conditions required to retain the funds have been met. HHS has released \u201cCARES Act Provider Relief Fund Frequently Asked Questions\u201d (\u201cFAQ\u201d) numerous times since April 3, 2020 through October 28, 2020 to clarify PRF requirements and has provided expansive examples of the reporting requirements in efforts to demonstrate what amounts of the PRF received may be considered to have been earned and may be retained. The Company continues to review and analyze the FAQ which it believes still leaves substantial uncertainty as to the proper use and reporting of PRF funds. We are reporting $31 of PRF in other income in our consolidated statement of operations for our fiscal quarter ended September 30, 2020 for COVID-19 related expenses. The unrecognized amount of the PRF are recorded under the caption \u201cUnearned CARES Act Funds\u201d in our consolidated balance sheets. We will continue to monitor compliance with the terms and conditions of the PRF and the impact of the pandemic on our revenues and expenses. If we are unable to attest to or comply with current or future terms and conditions, and there is no assurance we will be able to do so, our ability to retain some or all of the distributions received may be impacted. We currently believe we may not be able to utilize a portion of the PRF funds received under the currently existing interpretations by HHS and have to return the unutilized funds in the future.\n<\/p>\n

\nForgiveness of PPP loans may be available if the loans are used to pay wages, rent, utilities and interest on certain debt during the eight-week period following receipt of the loan proceeds, subject to Federally-established terms and conditions. During July 2020, the allowable period for the use of PPP loan proceeds was amended to allow for a 24-week utilization period. The borrowing subsidiaries must apply for loan forgiveness with the lending bank within ten months after the end of the allowable period. The forgiveness applications are to be reviewed by both the lender and the SBA and a loan forgiveness amount, if any, will be determined. There can be no assurance, however, that any of the PPP loans to us will be forgiven, or if forgiven, the amount of such forgiveness. Loan proceeds not forgiven are payable over two years at a 1% annual interest rate. The two-year loan repayment begins two months after the loan forgiveness amount is determined by SBA. The Company has not yet applied for forgiveness of any of its PPP loans and recorded no income relating to the PPP loans through September 30, 2020.\n<\/p>\n

\nGoing forward, the Company is unable to determine the extent to which the COVID-19 pandemic will continue to affect its assets and operations. Our ability to make estimates of the effect of the COVID-19 pandemic on revenues, expenses or changes in accounting judgments that have had or are reasonably likely to have a material effect on our financial statements is currently limited. The nature and extent of the effect of the COVID-19 pandemic on our balance sheet and results of operations will depend on the severity and length of the pandemic; government actions to mitigate the pandemic\u2019s effect; regulatory changes in response to the pandemic, especially those that affect our hospital, nursing home and pharmacy operations; and existing and potential government assistance that may be provided, including the requirements applicable to PRF receipts and PPP loans.\n<\/p>\n

\nSunLink Health Systems, Inc. is the parent company of subsidiaries that own and operate healthcare properties and businesses in the Southeast. Each of the Company\u2019s businesses is operated locally with a strategy of linking patients\u2019 needs with healthcare professionals. For additional information on SunLink Health Systems, Inc., please visit the Company\u2019s website.\n<\/p>\n

\nThis press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, without limitation, statements regarding the company\u2019s business strategy. These forward-looking statements are subject to certain risks, uncertainties and other factors, which could cause actual results, performance and achievements to differ materially from those anticipated. Certain of those risks, uncertainties and other factors are disclosed in more detail in the company\u2019s Annual Report on Form 10-K for the year ended June 30, 2020 and other filings with the Securities and Exchange Commission which can be located at www.sec.gov<\/a>.\n<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n<\/tr>\n
SUNLINK HEALTH SYSTEMS, INC. ANNOUNCES<\/b><\/td>\n<\/tr>\n
FISCAL 2021 FIRST QUARTER RESULTS<\/b><\/td>\n<\/tr>\n
Amounts in 000’s, except per share and volume amounts<\/b><\/td>\n<\/tr>\n
<\/tr>\n
CONSOLIDATED STATEMENTS OF EARNINGS (LOSS)<\/b><\/td>\n<\/tr>\n
\n\n

Three Months Ended September 30,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2020<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2019<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

% of Net<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

% of Net<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

Amount<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

Revenues<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

Amount<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

Revenues<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n

Net Revenues<\/td>\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n10,422\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n100.0\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n11,652\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n100.0\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Costs and Expenses:<\/td>\n\n\n\n\n\n\n\n<\/tr>\n
Cost of goods sold<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n4,070\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n39.1\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n4,344\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n37.3\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Salaries, wages and benefits<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n4,385\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n42.1\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n4,909\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n42.1\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Supplies<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n224\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2.1\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n319\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n2.7\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Purchased services<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n647\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n6.2\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n703\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n6.0\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Other operating expenses<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n949\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n9.1\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1,103\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n9.5\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Rents and leases<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n170\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1.6\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n159\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n1.4\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Depreciation and amortization<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n300\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2.9\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n335\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n2.9\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Operating Loss<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(323\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n-3.1\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(220\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n-1.9\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Interest Expense – net<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(7\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n-0.1\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(30\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n-0.3\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Federal stimulus – Pandemic relief funds<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n31\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.3\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n0.0\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Gains on sale of assets<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n8\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.1\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n107\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n0.9\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Loss from Continuing Operations before<\/td>\n\n\n\n\n\n\n\n<\/tr>\n
Income Taxes<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(291\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n-2.8\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(143\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n-1.2\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Income Tax expense (benefit)<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.0\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n0.0\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Loss from Continuing Operations<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(291\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n-2.8\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(143\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n-1.2\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Earnings (Loss) from Discontinued Operations, net of tax<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(49\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n-0.5\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(118\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n-1.0\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Net Loss<\/td>\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n(340\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n-3.3\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n(261\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n-2.2\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Loss Per Share from Continuing Operations:<\/td>\n\n\n\n\n\n\n\n<\/tr>\n
Basic<\/td>\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n(0.04\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n(0.02\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n<\/tr>\n
Diluted<\/td>\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n(0.04\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n(0.02\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n<\/tr>\n
Earnings (Loss) Per Share from Discontinued Operations:<\/td>\n\n\n\n\n\n\n\n<\/tr>\n
Basic<\/td>\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n(0.01\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n(0.02\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n<\/tr>\n
Diluted<\/td>\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n(0.01\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n(0.02\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n<\/tr>\n
Net Loss Per Share:<\/td>\n\n\n\n\n\n\n\n<\/tr>\n
Basic<\/td>\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n(0.05\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n(0.04\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n<\/tr>\n
Diluted<\/td>\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n(0.05\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n(0.04\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n<\/tr>\n
Weighted Average Common Shares Outstanding:<\/td>\n\n\n\n\n\n\n\n<\/tr>\n
Basic<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n6,899\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n6,987\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n<\/tr>\n
Diluted<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n6,899\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n6,987\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n<\/tr>\n
\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
HEALTHCARE FACILITIES VOLUME STATISTICS<\/b><\/td>\n\n\n\n\n\n\n\n<\/tr>\n
\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Hospital and Nursing Home Admissions<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n66\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n122\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n<\/tr>\n
Hospital and Nursing Home Patient Days<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n5,195\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n6,961\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n<\/tr>\n
\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
SUMMARY BALANCE SHEETS<\/b><\/td>\n\n\n

September 30,<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

June 30,<\/b><\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2020<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2020<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
ASSETS<\/td>\n\n\n\n\n\n\n\n<\/tr>\n
Cash and Cash Equivalents<\/td>\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n11,403\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n11,184\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
Accounts Receivable – net<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n4,195\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n4,315\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
Other Current Assets<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n4,420\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n4,424\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
Property Plant and Equipment, net<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n5,622\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n5,324\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
Long-term Assets<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2,605\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2,724\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n28,245\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n27,971\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
LIABILITIES AND SHAREHOLDERS’ EQUITY<\/td>\n\n\n\n\n\n\n\n<\/tr>\n
Accounts Payable<\/td>\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n1,614\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n872\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
Unearned CARES Act Funds<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n4,607\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n4,532\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
Other Current Liabilities<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n5,867\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n6,012\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
Long-term Debt and Other Noncurrent Liabilities<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2,754\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2,812\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
Shareholders’ Equity<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n13,403\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n13,743\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n28,245\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n27,971\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n<\/tr>\n<\/table>\n

\n\u00a0\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201113005530\/en\/<\/a><\/span><\/p>\n

Robert M. Thornton, Jr.
\n<\/b>
Chief Executive Officer
\n<\/b>
(770) 933-7004<\/b><\/p>\n

KEYWORDS:<\/b> Georgia United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Hospitals Health Pharmaceutical Nursing Medical Supplies<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

SunLink Health Systems, Inc. Announces Fiscal 2021 First Quarter Results and COVID-19 Update ATLANTA–(BUSINESS WIRE)– SunLink Health Systems, Inc. (NYSE American: SSY) today announced a loss from continuing operations of $291,000 (a loss of $0.04 per fully diluted share) for its first fiscal quarter ended September 30, 2020 compared to a loss of $143,000, (a loss of $0.02 per fully diluted share) for the quarter ended September 30, 2019. Net loss for the quarter ended September 30, 2020 was $340,000 (a loss of $0.05 per fully diluted share) compared to a net loss of $261,000 ($0.04 per fully diluted share) for the quarter ended September 30, 2019. Consolidated net revenues from continuing operations for the quarters ended September 30, 2020 … <\/p>\n

Continue reading “SunLink Health Systems, Inc. Announces Fiscal 2021 First Quarter Results and COVID-19 Update”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-380960","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSunLink Health Systems, Inc. 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(NYSE American: SSY) today announced a loss from continuing operations of $291,000 (a loss of $0.04 per fully diluted share) for its first fiscal quarter ended September 30, 2020 compared to a loss of $143,000, (a loss of $0.02 per fully diluted share) for the quarter ended September 30, 2019. Net loss for the quarter ended September 30, 2020 was $340,000 (a loss of $0.05 per fully diluted share) compared to a net loss of $261,000 ($0.04 per fully diluted share) for the quarter ended September 30, 2019. Consolidated net revenues from continuing operations for the quarters ended September 30, 2020 … Continue reading "SunLink Health Systems, Inc. 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Announces Fiscal 2021 First Quarter Results and COVID-19 Update - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/sunlink-health-systems-inc-announces-fiscal-2021-first-quarter-results-and-covid-19-update\/","og_locale":"en_US","og_type":"article","og_title":"SunLink Health Systems, Inc. Announces Fiscal 2021 First Quarter Results and COVID-19 Update - Market Newsdesk","og_description":"SunLink Health Systems, Inc. Announces Fiscal 2021 First Quarter Results and COVID-19 Update ATLANTA–(BUSINESS WIRE)– SunLink Health Systems, Inc. (NYSE American: SSY) today announced a loss from continuing operations of $291,000 (a loss of $0.04 per fully diluted share) for its first fiscal quarter ended September 30, 2020 compared to a loss of $143,000, (a loss of $0.02 per fully diluted share) for the quarter ended September 30, 2019. Net loss for the quarter ended September 30, 2020 was $340,000 (a loss of $0.05 per fully diluted share) compared to a net loss of $261,000 ($0.04 per fully diluted share) for the quarter ended September 30, 2019. Consolidated net revenues from continuing operations for the quarters ended September 30, 2020 … Continue reading \"SunLink Health Systems, Inc. Announces Fiscal 2021 First Quarter Results and COVID-19 Update\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/sunlink-health-systems-inc-announces-fiscal-2021-first-quarter-results-and-covid-19-update\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-13T15:59:28+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20201113005530r1&sid=flmnd&distro=nx&lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"9 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sunlink-health-systems-inc-announces-fiscal-2021-first-quarter-results-and-covid-19-update\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sunlink-health-systems-inc-announces-fiscal-2021-first-quarter-results-and-covid-19-update\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"SunLink Health Systems, Inc. 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