Dynacq Healthcare swings to profit in Q4 and fiscal year
Dynacq Healthcare, Inc. (Nasdaq: DYII) said it swung to a profit in its fiscal fourth quarter and reported fiscal 2007 full-year results.
For the three months ended Aug. 31, the Houston-based holding company recorded net income of $3.6 million, or $0.22 per share, compared with a net loss of $1.3 million, or $0.08 per share, in the fourth quarter of 2006. No analyst estimates were available.
Income from continuing operations was $2.1 million, or $0.13 per share, compared with a loss from continuing operations of $1.5 million, or $0.10 per share, in the fourth quarter last year.
The small cap said net patient service revenues for the quarter increased 8% to $11 million from $10.1 million in 2006 due to an increase in the company’s bariatric and orthopedic cases at its Garland Facility.
For its full fiscal year 2007, net income was $4.2 million, or $0.26 per share, compared with a net loss of $5.9 million, or $0.39 per share, for the same period in 2006. No analyst estimates were available.
Income from continuing operations for the year was $3.8 million, or $0.24 per share, compared with a loss from continuing operations of $3.1 million, or $0.21 per share, in the same period in 2006.
Net patient service revenues for the year increased 19% to $42.8 million from $36 million in 2006.
Dynacq Healthcare is a holding company whose subsidiaries provide surgical health-care services and related ancillary services through hospital facilities.
Despite the upbeat quarter and full year, shares of Dynacq (DYII) slid 9.62%, or $0.61, to $5.73 at 12:42 p.m. ET. Shares of Dynacq Healthcare have been trading in the range of $1.13 to $9.39 for the past 52 weeks.
