The company, which owns three ambulatory surgery centers, reported net loss of $0.6 million in the second quarter compared to the same period last year as a result of increased market spend in salaries and advertising as the company focuses more of its efforts on direct consumer marketing. The company’s cash flow provided by operations was $1.4 million, a slight decline from the second quarter of 2012.
However, the company used $1.1 million in cash flows for financing activities and due to its positive cash flow positions, it was able to make significant distributions to non-controlling interests.
For the six month’s end, the company reported total net patient services revenues at $10 million, a 19.5 percent increase over the first half of 2012 due to increased case volume from resyndicating a center and adding a large pain and spine physician group last year. The company reported $1.3 million net loss for the first half of this year due to increased market spending in salary and advertising.
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