Nu-Med Reports Profit of $6.33 Million in Quarter

Nu-Med, an Encino-based operator of hospitals and other health-care facilities, reported a $6.33-million profit in its fiscal fourth quarter, compared with a year-earlier loss of $2.23 million.

Nu-Med said the profit, equal to 74 cents a share, in the quarter ended April 30 largely reflected a $4.82-million gain from the company’s repurchase of $25.4 million face value of debt securities during the quarter. The rest of the profit was Nu-Med’s after-tax earnings from operations of $1.51 million.

Fourth-quarter revenue rose to $114.9 million from $107.4 million.

For its full fiscal year, Nu-Med lost $13.9 million on revenue of $440.8 million, against a year-earlier profit of $4.36 million on revenue of $391.8 million. Nu-Med said the loss partly reflected its payment of higher interest costs following a refinancing of the company’s debt last year.