Symbion revenue leaps 7%: 5 2Q financial result insights
1. The company’s revenue was up 7.5 percent from $132.3 million in the second quarter of 2013 to $142.2 million in the second quarter of 2014. Symbion ended the quarter with $6.6 million in net income, up from $1.5 million in the second quarter of 2013.
2. Operating income rose from $13.2 million in the second quarter of 2013 to $22.3 million in the second quarter of this year. Operating expenses were $119.9 million, a slight increase from $119.1 million in the same period last year.
3. Symbion’s case volume dipped slightly from 55,384 cases performed in the second quarter of 2013 to 55,242 cases. But, patient services revenues grew from $131 million in the year prior to $140.8 million.
4. On June 13, Symbion entered into an agreement and plan of merger with Surgery Center Holdings. In the second quarter, Symbion incurred $2.3 million in related merger transaction costs.
5. As of June 30, Symbion owned 50 surgical facilities, 44 ambulatory surgery centers and six surgical hospitals. The company owns a majority stake in 30 of the 50 facilities.
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