MedGroup Shows Small Profit for 2nd Quarter
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MedGroup Inc., an Encino-based operator of physical, speech and occupational therapy centers, rebounded from a year-earlier loss to post a small profit in its fiscal second quarter, largely by closing unprofitable operations.
In the quarter ended Sept. 30, MedGroup earned $23,717, in contrast to a loss of $70,809 a year earlier. But revenue in the latest quarter dropped 40%, to $871,934 from $1.46 million.
For the six months ended Sept. 30, MedGroup posted a profit of $12,420, compared with a loss of $248,981 a year earlier. Revenue fell 41%, to $1.77 million from $3 million.
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