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Tenet 4Q Loss Narrows On Higher Prices; Sees More Red Ink

admin — Tue, 24 Feb 2009 11:24:34 +0000

Tenet Healthcare Corp.’s
(THC) fourth-quarter loss narrowed as the hospital
operator saw improved results amid higher prices.
The company also projected a 2009 loss bigger than expectations,
, according to
Thomson Reuters. Revenue is seen rising to
$9 billion to $9.2 billion
, in line
with estimates, with admissions growth of as much as 1%. Last year’s admissions
increase was 1.2%.
Tenet, which has been struggling to gain its footing after settling government
probes in 2006 over past pricing plans, has changed management, shed hospitals
and made improvements that earned it good-quality ratings from the Department of
Health and Human Services. Still, it faces high supply costs, delays in key
asset sales and high debt levels.
, or
a share, compared with a
year-earlier net loss of
, or
a share. The latest quarter
included a
write-down from the sale two weeks ago of facilities at
the University of Southern California.
Revenue increased 5.7% to
$2.2 billion
.
$2.21 billion
.
Hospitals have struggled for years with tepid volumes of commercially insured
patients and large numbers of uninsured patients who can’t pay their medical
bills. Now, the credit crisis has prompted many hospitals to delay capital
spending and the recession threatens to further erode business.
Same-hospital adjusted earnings before interest, taxes, depreciation and
amortization, the industry benchmark used to track the financial performance of
those hospitals under a company’s wing for more than a year, climbed 27%.
Same-hospital admissions edged down 0.2%, as more-profitable commercial
managed-care admissions fell 3% and government managed-care admissions increased
10.1%. But inpatient revenue per admission increased 3.6%, with the increase for
outpatients at 7%.
The company’s bad debt expense increased 23%, hurt in part by a decline in its
self-pay collection rate. There is concern that the weak economy, including job
losses in particular, will lead to more uninsured patients, uncompensated care
and bad debt.
Shares were up 12.2% at
$1.10
a share premarket. The stock has lost more than
three-quarters of its value since August.
, Dow Jones Newswires; 201-938-2310; shirleen.dorman@
dowjones.com
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Life expectancy gap between sexes narrows

admin — Sun, 15 Jun 2008 16:27:02 +0000

The gap in life expectancy between men and women is at its lowest level for more than 50 years. While both sexes are living longer, the latest figures released yesterday show that men are catching up with women.
Last night health experts said the change owed much to men smoking less, paying more attention to their diet and being less reluctant to go the doctor. Over 20 years, the gap between female and male life expectancy at birth has dropped from 5.8 years to 4.3 years, according to the Office of National Statistics. Boys born in the UK between 2005 and 2007 can expect to live to 77.2 years, while girls can look forward to 81.5 years.
For 1985 to 1987, the comparable figures were 71.9 years for boys and 77.7 years for girls. The gap between the sexes was 4.8 years in 1951, but widened to 6.3 years in the next 20 years. Since the 1970s, experts said, men have benefited from lifestyle changes.
Dr Ian Banks, president of the Men’s Health Forum, said: “Probably the biggest single reason is that men are giving up smoking in very large numbers, so cardiovascular disease has been affected by this in terms of numbers and lung cancer – the single greatest cancer killer of men – is on the decline.” Men are also paying more attention to their diet, he said.

Tenet Healthcare narrows loss as hospital visits increase 7:30 AM CT

admin — Mon, 26 May 2008 01:23:59 +0000

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Cipher loss narrows in Q4 – Update

admin — Tue, 19 Feb 2008 08:35:59 +0000

(RTTNews) -
Wednesday, Cipher Pharmaceuticals Inc. (DND.TO:
) reported a narrower fourth-quarter loss, influenced by growing sales of Lipofen . The company also provided update on its extended-release formulation of tramadol.
Loss for the quarter narrowed to C$0.5 million or C$0.02 per share from C$1.6 million or C$0.07 per share in the corresponding period last year.
Licensing revenue advanced to $0.4 million, from C$0.2 million in the year-ago quarter.
Research and development or R&D expenses during the current quarter were nil, net of reimbursed R&D costs of C$0.2 million, compared with R&D expenses of C$0.9 million in the same period last year.
As at December 31, 2008, the company had cash of C$9.9 million, compared with C$11.0 million as at December 31, 2007.
For all of 2008, loss was C$3.2 million or C$0.13 per share, a decrease of 50% compared with the loss of C$6.4 million or C$0.27 per share last year. The company attributed the improved performance to increased revenue generated from the Lipofen, U.S. distribution agreement and reduced R&D expenditures during the year. Total revenue in 2008 was C$1.5 million, compared with C$0.5 million in 2007.
Subsequent to year-end, Cipher received provisional FDA approval for CIP-TRAMADOL ER for distribution in the U.S. The company said it must resolve certain patent issues associated with the reference product, Ultram ER, before CIP-TRAMADOL ER is commercialized.
DND.TO closed Tuesday’s regular trading session at C$0.82
For comments and feedback: contact editorial@rttnews.com

Nyer Medical Group Q1 net loss narrows – Quick Facts

admin — Tue, 12 Feb 2008 11:04:55 +0000

(RTTNews) -
Nyer Medical Group, Inc. (NYER:
) reported first-quarter net income from continuing operations of $55 thousands or $0.01 per share, compared to a net loss of $13 thousands or $0.01 per share in the same period of 2007.
Net loss for the quarter narrowed to $10 thousands from $35 thousands in the prior year quarter. On a per share basis, loss was $0.01, flat with a year ago.
Revenues for the quarter rose 7.7% to $18.2 million from $16.9 million in the year-ago quarter.
For comments and feedback: contact editorial@rttnews.com

Escalon Medical Q1 Loss Narrows – Quick Facts

admin — Tue, 05 Feb 2008 22:56:54 +0000

(RTTNews) -
Thursday, Escalon Medical Corp. (ESMC:
) reported a net loss for the first quarter of $481 thousand or $0.07 per share, narrower than $829 thousand or $0.13 per share in the year-ago quarter.
On non-GAAP basis, net loss narrowed to $164 thousand or $0.03 per share from $671 thousand or $0.11 per share in the same quarter last year.
Net revenues for the quarter increased to $8.69 million from $6.89 million in the prior-year quarter.
For comments and feedback: contact editorial@rttnews.com

Deltex Medical Group first-half loss narrows – Quick Facts

admin — Fri, 04 Jan 2008 06:36:35 +0000

(RTTNews) -
Deltex Medical Group Plc (DEMG.L:
) reported first-half loss of GBP 1.12 million or 1.2 pence per share, compared to loss of GBP 1.17 million or 1.4 pence per share last year.
Pre-tax loss was GBP 1.13 million, narrower than GBP 1.19 million in the prior-year period.
The company’s half-yearly revenues grew to GBP 2.46 million from GBP 1.91 million in the comparable period a year ago.
The company said that the momentum in its entire target markets behind the growth in sales in the first half of the year has continued into the second half. Looking forward, Deltex Medical Group remains confident of the outlook for the current year.
For comments and feedback: contact editorial@rttnews.com

Inverness Medical Q3 net loss narrows – Update

admin — Fri, 26 Oct 2007 22:09:42 +0000

(RTTNews) -
Inverness Medical Innovations, Inc. (IMA:
) said its loss for the third quarter narrowed from the prior year as revenues were driven by incremental revenues both from existing and acquired businesses. Earnings missed, while revenues were almost in line with, Street estimates.
Third-quarter loss for Inverness narrowed to $3.66 million or $0.12 per share from $180.61 million or $3.74 per share in the same quarter last year.
Results for the quarter include amortization of $60.0 million, $5.8 million of restructuring charges and $7.0 million of stock-based compensation expense.
Adjusted cash basis net income, excluding charges and expenses, was $43.13 million or $0.46 per share, up from $14.92 million or $0.29 per share in the same quarter last year.
On average, six analysts polled by First Call/Thomson Financial expected earnings of $0.50 per share for the quarter.
Quarterly revenues jumped to $438.80 million from $237.64 million in the year-ago quarter, roughly in line with Street estimates of $438.64 million.
Revenue increased primarily due to $118.7 million of incremental revenue provided by Health Management segment along with $63.5 million of incremental revenue contributed by recently acquired businesses. Organic growth, which, on a currency adjusted basis, was approximately 11% in Professional Diagnostics segment.
For the nine-month period, loss narrowed to $38.19 million or $0.60 per share from $228.98 million or $4.89 per share in the year-ago period.
On a non-GAAP basis, net income was $114.99 million or $1.30 per share, up from $41.06 million or $0.84 per share in the same period last year.
Revenues surged to $1.21 billion from $551.58 million in the prior-year period.
IMA is currently trading at $15.83, down $1.87 or 10.56%, on a volume of 0.35 million shares.
For comments and feedback: contact editorial@rttnews.com

Hansen Medical Q4 loss narrows – Quick Facts

admin — Sat, 29 Sep 2007 09:43:58 +0000

(RTTNews) -
Hansen Medical Inc. (HNSN:
) posted fourth quarter net loss of $14.9 million or $0.59 per share, compared to a net loss $23.9 million or $1.10 per share in the year-ago quarter.
Revenues for the quarter increased to $7.3 million from $4.2 million in the prior year quarter.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.53 per share on revenues of $9.04 million. Analysts’ estimates typically exclude special items.
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For comments and feedback: contact editorial@rttnews.com

UPDATE: Vectura Narrows 1st Half Loss; Further Milestones Ahead

admin — Sun, 08 Jul 2007 18:30:51 +0000

(VEC.LN) Monday
reported a narrower net loss and said it expects further payments from its big
pharmaceutical partners over the next year as its drugs move through
development.
Sept. 30
GBP13.3 million
, up
from
GBP12.3 million
a year earlier. The net loss narrowed to
GBP9.98 million
GBP10.1 million
despite higher research and development costs.
Baxter International Inc.’s
(BAX) hemophilia treatment Advate,
product and technology licensing fees, and device sales.
, which specializes in inhaled drugs and delivery systems, has
collaborations with Switzerland’s
(NVS),
generics unit
Sandoz and Germany’s Boehringer Ingelheim GmbH.
is expected to start phase III trials of NVA237 and QVA149 during the
next 12 months, Vectura Chief Executive Officer
said Monday.
Both drugs are being developed for the treatment of chronic obstructive
pulmonary disease, or COPD, which affects 210 million people worldwide.
$172.5 million
in potential payments for NVA237 when it starts
phase III, although he said phase III is “an important milestone” in the
development of any drug.
Sandoz, meanwhile, has invested
Gyrohaler, the device it wants to use to deliver VR315 and VR632,
generic versions of two of today’s top-selling asthma medicines. Although
and Sandox have never disclosed which drugs they are making generics of,
analysts believe VR315 is Advair,
(GSK.LN) blockbuster,
and VR632 is
(AZN.LN) Symbicort.
Registration trials for VR315 are also due within the next 12 months.
“It’s an exciting time in the company’s trajectory,”
said in a
statement Monday. The company said it had cash of
GBP73.8 million
Sept. 30
.
Analysts at Canaccord Adams, Nomura Code Securities and Piper Jaffray urged
clients to buy
stock.
“With its strong cash position, short-term revenue streams and breadth of
development projects, we continue to believe that
shows promise,” said
Nomura Code’s
.
, shares in
were flat at 45.5 pence, underperforming a
higher FTSE All Share index, up 3.5%. Its shares have lost 27% over the past 12
months.
Company Web site: www.vectura.comk
, Dow Jones Newswires; 44-20-7842-9272; jason.douglas@
dowjones.com
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