Nu-Med Reports Profit of $28.3 Million in Quarter

Nu-Med Inc., an Encino-based operator of hospitals and other health-care facilities, reported a profit of $28.3 million in its fiscal fourth quarter, compared with a loss of $1.92 million a year earlier.

Profits in the quarter that ended April 30 reflected gains from Nu-Med’s sale of three hospitals, a benefit from its early retirement of some debt and a tax credit. Its fourth-quarter revenue dropped to $51 million from $67.3 million.

For its full fiscal year, Nu-Med earned $22.4 million, compared with a loss of $7.26 million the previous year. Its annual revenue fell to $239.1 million from $278 million.