{"id":786916,"date":"2023-09-28T17:16:00","date_gmt":"2023-09-28T21:16:00","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/sunlink-health-systems-inc-announces-fiscal-2023-fourth-quarter-and-annual-results\/"},"modified":"2023-09-28T17:16:00","modified_gmt":"2023-09-28T21:16:00","slug":"sunlink-health-systems-inc-announces-fiscal-2023-fourth-quarter-and-annual-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sunlink-health-systems-inc-announces-fiscal-2023-fourth-quarter-and-annual-results\/","title":{"rendered":"SunLink Health Systems, Inc. Announces Fiscal 2023 Fourth Quarter and Annual Results"},"content":{"rendered":"

<\/p>\n

SunLink Health Systems, Inc. Announces Fiscal 2023 Fourth Quarter and Annual Results<\/b><\/p>\n

ATLANTA–(BUSINESS WIRE<\/a>)–
\nSunLink Health Systems, Inc. (NYSE American: SSY) today announced a loss from continuing operations of $1,436,000 (or a loss of $0.20 per fully diluted share) for its fourth fiscal quarter ended June 30, 2023 compared to a loss from continuing operations of $2,317,000 (or a loss of $0.33 per fully diluted share) for the fourth fiscal quarter ended June 30, 2022. Net loss for the quarter ended June 30, 2023 was $1,426,000 (or a loss of $0.20 per fully diluted share) compared to a net loss of $2,365,000 (or a loss of $0.34 per fully diluted share) for the quarter ended June 30, 2022. The fiscal quarter ended June 30, 2023 included Provider Relief Funds (\u201cPRF\u201d) of $449,000 (pre-tax).<\/p>\n

\nConsolidated net revenues for the fiscal quarters ended June 30, 2023 and 2022 were $10,987,000 and $9,881,000, respectively, an increase of 11% in the current year\u2019s quarter above those in the comparable quarter of the prior fiscal year. Pharmacy Segment net revenues increased 11% above those of the comparable fiscal quarter of the prior fiscal year due to an 8% increase retail and institutional pharmacy scripts filled in the fiscal quarter ended June 30, 2023, and the Healthcare Services Segment net revenues increased 13% from those of the comparable fiscal quarter of the prior year, due primarily to increased nursing home patient days.<\/p>\n

\nSunLink reported an operating loss for the quarter ended June 30, 2023 of $1,975,000 compared to an operating loss for the quarter ended June 30, 2022 of $2,211,000. The decrease in operating loss from last year\u2019s comparable quarter was due primarily to the increased net revenues this fiscal year, notwithstanding increased costs in all reported expense categories except salaries, wages, and benefits, supplies and rent, which declined slightly.<\/p>\n

\nEarnings from discontinued operations were $10,000 (or $0.00 per fully diluted share) for the quarter ended June 30, 2023 compared to a loss from discontinued operations of $48,000 (or $0.01 per fully diluted share) for the quarter ended June 30, 2022.<\/p>\n

\nLoss from continuing operations for the twelve months ended June 30, 2023 was $1,655,000 (or a loss of $0.24 per fully diluted share) compared to a loss from continuing operations for the twelve months ended June 30, 2022 of $1,722,000 ($0.25 per fully diluted share). Net loss for the twelve months ended June 30, 2023 was $1,795,000 (or a loss of $0.26 per fully diluted share) compared to a net loss of $2,009,000 ($0.29 per fully diluted share) for the twelve months ended June 30, 2022.<\/p>\n

\nThe twelve months ended June 30, 2023, included recognition of (i) net revenues of $2,615,000 from the reversal of reserves for certain sales taxes previously accrued by the Pharmacy Segment as the Company determined during the second fiscal quarter that, based upon discussions with and correspondence from taxing authorities and consultation with external legal counsel, it was more likely than not that such accrued sales taxes will not be payable, and (ii) PRF of $510,000 (pre-tax). The twelve months ended June 30, 2022 included forgiveness of Paycheck Protection Plan (\u201cPPP\u201d) loans of $3,010,000 (pre-tax) and PRF of $720,000 (pre-tax).<\/p>\n

\nConsolidated net revenues for the twelve months ended June 30, 2023 and 2022 were $47,949,000 and $41,344,000, respectively, an increase of 16% in the current year\u2019s twelve months above such revenues in the comparable twelve months of the prior fiscal year. Healthcare Services Segment net revenues increased 8% above those of the comparable period of the prior fiscal year due to increased nursing home days this fiscal year, and the Pharmacy Segment net revenues increased 20% above those of the comparable period of the prior fiscal year due to the recognition of income from reversal of reserves for certain sales taxes previously accrued, as well as increased retail, institutional pharmacy and Durable Medical Equipment sales this fiscal year.<\/p>\n

\nSunLink reported an operating loss for the twelve months ended June 30, 2023 of $2,322,000 compared to an operating loss for the twelve months ended June 30, 2022 of $5,340,000. The decreased operating loss for this fiscal year was due primarily to the previously mentioned recognition of income from the reversal of reserves for certain accrued sales taxes of $2,615,000 in this year\u2019s second fiscal quarter.<\/p>\n

\nLoss from discontinued operations was $140,000 (or a loss of $0.02 per fully diluted share) for the twelve months ended June 30, 2023 compared to a loss from discontinued operations of $287,000 (or $0.04 per fully diluted share) for the twelve months ended June 30, 2022.<\/p>\n

\nThe Company\u2019s cash and cash equivalents on June 30, 2023 were $4,486,000, a decline of $2,308,000 from June 30, 2022, due to the twelve month\u2019s operating loss and capital expenditures of $2,000,000 by both the Healthcare Service and Pharmacy Segments.<\/p>\n

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

\nThe Company continued to experience adverse after-effects of the COVID-19 pandemic in the quarter ended June 30, 2023 and believes such effects will likely continue to affect its assets and operations in the foreseeable future particularly salaries and wages pressure, workforce shortages, supply chain disruption and broad inflationary pressures. Our ability to make estimates of any such continuing effects of evolving strains of COVID-19 on future revenues, expenses or changes in accounting judgments that have had or are reasonably likely to have a material effect on our financial statements is very limited, depending as they do on the severity and length thereof; as well as any further government actions and\/or regulatory changes intended to address such effects.<\/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.<\/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, 2022 and other filings with the Securities and Exchange Commission which can be located at www.sec.gov<\/a>.<\/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
SUNLINK HEALTH SYSTEMS, INC. ANNOUNCES<\/b><\/td>\n<\/tr>\n
FISCAL 2023 FOURTH QUARTER AND ANNUAL RESULTS<\/b><\/td>\n<\/tr>\n
Amounts in 000’s, except per share<\/b><\/td>\n<\/tr>\n
<\/tr>\n
CONSOLIDATED STATEMENTS OF EARNINGS (LOSS)<\/b><\/td>\n<\/tr>\n
\n\n\n

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

\n

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

\n

Twelve Months Ended June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n

2023<\/b><\/p>\n<\/td>\n

\n

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

\n

2022<\/b><\/p>\n<\/td>\n

\n

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

\n

2023<\/b><\/p>\n<\/td>\n

\n

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

\n

2022<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n

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

\n

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

\n

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

\n

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

\n

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

\n

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

\n

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

\n

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

\n

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

\n

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

\n

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

\n

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

\n

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

\n

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

\n

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

\n\n\n

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

\n

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

\n

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

\n

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

\n

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

\n

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

\n

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

\n

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

\n

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

\n

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

\n

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

\n

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

\n

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

\n

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

\n

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

Net revenues<\/td>\n\n\n

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

\n

\n10,987<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

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

\n

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

\n\n

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

\n

\n9,881<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

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

\n\n

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

\n

\n47,949<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

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

\n\n

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

\n

\n41,344<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

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

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

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

\n

\n4,929<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n44.9<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n4,248<\/p>\n<\/td>\n

\n

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

\n\n

\n43.0<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n18,571<\/p>\n<\/td>\n

\n

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

\n\n

\n38.7<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n16,416<\/p>\n<\/td>\n

\n

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

\n\n

\n39.7<\/p>\n<\/td>\n

\n

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

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

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

\n

\n4,677<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n42.6<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n4,783<\/p>\n<\/td>\n

\n

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

\n\n

\n48.4<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n19,193<\/p>\n<\/td>\n

\n

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

\n\n

\n40.0<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n19,006<\/p>\n<\/td>\n

\n

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

\n\n

\n46.0<\/p>\n<\/td>\n

\n

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

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

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

\n

\n349<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n3.2<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n397<\/p>\n<\/td>\n

\n

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

\n\n

\n4.0<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n1,363<\/p>\n<\/td>\n

\n

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

\n\n

\n2.8<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n1,276<\/p>\n<\/td>\n

\n

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

\n\n

\n3.1<\/p>\n<\/td>\n

\n

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

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

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

\n

\n1,047<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

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

\n

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

\n\n

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

\n

\n936<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

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

\n\n

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

\n

\n4,116<\/p>\n<\/td>\n

\n

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

\n\n

\n8.6<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n3,546<\/p>\n<\/td>\n

\n

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

\n\n

\n8.6<\/p>\n<\/td>\n

\n

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

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

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

\n

\n1,245<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n11.3<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n1,135<\/p>\n<\/td>\n

\n

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

\n\n

\n11.5<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n4,763<\/p>\n<\/td>\n

\n

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

\n\n

\n9.9<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n4,345<\/p>\n<\/td>\n

\n

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

\n\n

\n10.5<\/p>\n<\/td>\n

\n

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

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

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

\n

\n119<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n1.1<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n133<\/p>\n<\/td>\n

\n

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

\n\n

\n1.3<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n500<\/p>\n<\/td>\n

\n

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

\n\n

\n1.0<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n552<\/p>\n<\/td>\n

\n

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

\n\n

\n1.3<\/p>\n<\/td>\n

\n

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

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

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

\n

\n596<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n5.4<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n460<\/p>\n<\/td>\n

\n

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

\n\n

\n4.7<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n1,765<\/p>\n<\/td>\n

\n

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

\n\n

\n3.7<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n1,543<\/p>\n<\/td>\n

\n

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

\n\n

\n3.7<\/p>\n<\/td>\n

\n

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

Operating loss<\/td>\n\n\n

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

\n

\n(1,975<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n-18.0<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n(2,211<\/p>\n<\/td>\n

\n

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

\n\n

\n-22.4<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n(2,322<\/p>\n<\/td>\n

\n

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

\n\n

\n-4.8<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n(5,340<\/p>\n<\/td>\n

\n

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

\n\n

\n-12.9<\/p>\n<\/td>\n

\n

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

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Interest Income (expense) – net<\/td>\n\n\n

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

\n

\n74<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n0.7<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n3<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

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

\n\n

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

\n

\n120<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

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

\n\n

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

\n

\n(15<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

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

Forgiveness of PPP loans and accrued interest<\/td>\n\n\n

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

\n

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

\n

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

\n\n

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

\n

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

\n

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

\n\n

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

\n

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

\n

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

\n\n

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

\n

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

\n\n

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

\n

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

\n

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

\n\n

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

\n

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

\n\n

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

\n

\n3,010<\/p>\n<\/td>\n

\n

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

\n\n

\n7.3<\/p>\n<\/td>\n

\n

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

Federal pandemic stimulus- provider relief funds<\/td>\n\n\n

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

\n

\n449<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n4.1<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

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

\n

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

\n\n

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

\n

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

\n\n

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

\n

\n510<\/p>\n<\/td>\n

\n

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

\n\n

\n1.1<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n720<\/p>\n<\/td>\n

\n

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

\n\n

\n1.7<\/p>\n<\/td>\n

\n

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

Gain (lLss)n sale of assets<\/td>\n\n\n

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

\n

\n16<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

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

\n

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

\n\n

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

\n

\n(2<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

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

\n\n

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

\n

\n30<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

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

\n\n

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

\n

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

\n

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

\n\n

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

\n

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

\n\n\n\n\n\n\n\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\n\n\n\n\n\n\n\n<\/tr>\n
Income Taxes<\/td>\n\n\n

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

\n

\n(1,436<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n-13.1<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n(2,210<\/p>\n<\/td>\n

\n

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

\n\n

\n-22.4<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n(1,662<\/p>\n<\/td>\n

\n

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

\n\n

\n-3.5<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n(1,615<\/p>\n<\/td>\n

\n

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

\n\n

\n-3.9<\/p>\n<\/td>\n

\n

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

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

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

\n

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

\n

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

\n\n

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

\n

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

\n

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

\n\n

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

\n

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

\n

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

\n\n

\n1.1<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

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

\n

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

\n\n

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

\n

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

\n\n

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

\n

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

\n

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

\n\n

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

\n

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

Earnings (Loss) from Continuing Operations<\/td>\n\n\n

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

\n

\n(1,436<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n-13.1<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n(2,317<\/p>\n<\/td>\n

\n

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

\n\n

\n-23.4<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n(1,655<\/p>\n<\/td>\n

\n

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

\n\n

\n-3.5<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n(1,722<\/p>\n<\/td>\n

\n

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

\n\n

\n-4.2<\/p>\n<\/td>\n

\n

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

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

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

\n

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

\n

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

\n\n

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

\n

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

\n

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

\n\n

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

\n

\n(48<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

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

\n\n

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

\n

\n(140<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

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

\n\n

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

\n

\n(287<\/p>\n<\/td>\n

\n

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

\n\n

\n-0.7<\/p>\n<\/td>\n

\n

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

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

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

\n

\n(1,426<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n-13.0<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n(2,365<\/p>\n<\/td>\n

\n

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

\n\n

\n-23.9<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n(1,795<\/p>\n<\/td>\n

\n

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

\n\n

\n-3.7<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n(2,009<\/p>\n<\/td>\n

\n

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

\n\n

\n-4.9<\/p>\n<\/td>\n

\n

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

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

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

\n

\n(0.20<\/p>\n<\/td>\n

\n

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

\n\n\n\n

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

\n

\n(0.33<\/p>\n<\/td>\n

\n

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

\n\n\n\n

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

\n

\n(0.24<\/p>\n<\/td>\n

\n

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

\n\n\n\n

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

\n

\n(0.25<\/p>\n<\/td>\n

\n

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

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

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

\n

\n(0.20<\/p>\n<\/td>\n

\n

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

\n\n\n\n

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

\n

\n(0.33<\/p>\n<\/td>\n

\n

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

\n\n\n\n

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

\n

\n(0.24<\/p>\n<\/td>\n

\n

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

\n\n\n\n

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

\n

\n(0.25<\/p>\n<\/td>\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\n\n\n\n\n\n\n\n<\/tr>\n
Basic<\/td>\n\n\n

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

\n

\n0.00<\/p>\n<\/td>\n

\n

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

\n\n\n\n

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

\n

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

\n

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

\n\n\n\n

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

\n

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

\n

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

\n\n\n\n

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

\n

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

\n

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

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

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

\n

\n0.00<\/p>\n<\/td>\n

\n

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

\n\n\n\n

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

\n

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

\n

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

\n\n\n\n

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

\n

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

\n

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

\n\n\n\n

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

\n

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

\n

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

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

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

\n

\n(0.20<\/p>\n<\/td>\n

\n

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

\n\n\n\n

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

\n

\n(0.34<\/p>\n<\/td>\n

\n

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

\n\n\n\n

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

\n

\n(0.26<\/p>\n<\/td>\n

\n

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

\n\n\n\n

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

\n

\n(0.29<\/p>\n<\/td>\n

\n

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

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

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

\n

\n(0.20<\/p>\n<\/td>\n

\n

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

\n\n\n\n

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

\n

\n(0.34<\/p>\n<\/td>\n

\n

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

\n\n\n\n

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

\n

\n(0.26<\/p>\n<\/td>\n

\n

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

\n\n\n\n

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

\n

\n(0.29<\/p>\n<\/td>\n

\n

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

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

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

\n

\n7,032<\/p>\n<\/td>\n

\n

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

\n\n\n\n

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

\n

\n6,954<\/p>\n<\/td>\n

\n

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

\n\n\n\n

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

\n

\n7,019<\/p>\n<\/td>\n

\n

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

\n\n\n\n

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

\n

\n6,945<\/p>\n<\/td>\n

\n

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

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

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

\n

\n7,032<\/p>\n<\/td>\n

\n

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

\n\n\n\n

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

\n

\n6,954<\/p>\n<\/td>\n

\n

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

\n\n\n\n

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

\n

\n7,019<\/p>\n<\/td>\n

\n

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

\n\n\n\n

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

\n

\n6,945<\/p>\n<\/td>\n

\n

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

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

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

\n

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

\n

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

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

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

\n

2023<\/b><\/p>\n<\/td>\n

\n

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

\n

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

\n

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

\n

2022<\/b><\/p>\n<\/td>\n

\n

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

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

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

\n

\n4,486<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n6,794<\/p>\n<\/td>\n

\n

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

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

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

\n

\n4,251<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n4,624<\/p>\n<\/td>\n

\n

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

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

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

\n

\n3,537<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n5,397<\/p>\n<\/td>\n

\n

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

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

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

\n

\n8,281<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n8,217<\/p>\n<\/td>\n

\n

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

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

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

\n

\n2,714<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n2,911<\/p>\n<\/td>\n

\n

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

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

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

\n

\n23,269<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n27,943<\/p>\n<\/td>\n

\n

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

\n\n\n\n\n\n\n\n\n\n\n<\/tr>\n
LIABILITIES AND SHAREHOLDERS’ EQUITY<\/td>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n<\/tr>\n
Current Liabilities<\/td>\n\n\n

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

\n

\n4,869<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n7,691<\/p>\n<\/td>\n

\n

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

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

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

\n

\n983<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n1,132<\/p>\n<\/td>\n

\n

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

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

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

\n

\n17,417<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n19,120<\/p>\n<\/td>\n

\n

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

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

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

\n

\n23,269<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n27,943<\/p>\n<\/td>\n

\n

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

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

\n\u00a0<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230928254829\/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> General Health Medical Devices Hospitals Health Pharmaceutical<\/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 2023 Fourth Quarter and Annual Results ATLANTA–(BUSINESS WIRE)– SunLink Health Systems, Inc. (NYSE American: SSY) today announced a loss from continuing operations of $1,436,000 (or a loss of $0.20 per fully diluted share) for its fourth fiscal quarter ended June 30, 2023 compared to a loss from continuing operations of $2,317,000 (or a loss of $0.33 per fully diluted share) for the fourth fiscal quarter ended June 30, 2022. Net loss for the quarter ended June 30, 2023 was $1,426,000 (or a loss of $0.20 per fully diluted share) compared to a net loss of $2,365,000 (or a loss of $0.34 per fully diluted share) for the quarter ended June 30, 2022. The fiscal … <\/p>\n

Continue reading “SunLink Health Systems, Inc. Announces Fiscal 2023 Fourth Quarter and Annual Results”<\/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-786916","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSunLink Health Systems, Inc. Announces Fiscal 2023 Fourth Quarter and Annual Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sunlink-health-systems-inc-announces-fiscal-2023-fourth-quarter-and-annual-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SunLink Health Systems, Inc. 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