Nu-Med Reports Loss of $2.89 Million for Quarter

Nu-Med Inc., an Encino operator of hospitals and other health-care facilities, said it lost $2.89 million in its fiscal second quarter, compared with a $703,000 profit a year earlier.

The loss came as Nu-Med’s revenue for the quarter that ended Oct. 31 showed virtually no change, at $65.5 million, compared with a year ago. Nu-Med blamed the loss on several factors, including higher operating costs, lack of revenue gains and increased interest expense on its debt.

For the first half of its fiscal year, Nu-Med lost $1.85 million compared with a $5.54-million profit a year ago. Its six-month revenue rose to $139.4 million from $130.1 million.