Nu-Med Reports Loss of $7.22 Million in Quarter

Nu-Med, an Encino operator of hospitals and other health-care facilities, reported a loss of $7.22 million for its fiscal third quarter that ended Jan. 31.

The loss, which was less than Nu-Med’s year-earlier loss of $19.1 million, stemmed from a $13.9-million loss on the sale of a hospital in Canoga Park. Excluding that sale, Nu-Med posted pretax operating income of $1.24 million; it had an operating loss of $14 million a year earlier.

Nu-Med’s third-quarter revenue rose 28% to $84.9 million, from $66.5 million.

For the first nine months of its fiscal year, Nu-Med suffered a $1.68-million loss, compared with a loss of $20.2 million in the comparable year-earlier period. Its nine-month revenue rose to $251.5 million from $225 million.

For detailed data and results of other companies, please see tables, Page 8.