Summit Health’s Earnings Rise 34% in 3rd Quarter
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Summit Health Ltd., a Burbank operator of hospitals, nursing centers and a health maintenance organization, reported that its earnings jumped in its fiscal third quarter and nine months that ended March 31.
Summit’s fiscal third-quarter profit was $5.14 million, a 34% increase from $3.83 million a year earlier. Its revenue was up 8%, to $131.3 million from $121.8 million.
In the latest nine-month period, Summit earned $14 million, a 43% gain from its $9.78 million in earnings a year before. Its revenue rose 9%, to $384 million from $351.8 million.
The company said the results reflected an increase in medical services provided, as well as ongoing cost controls.
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