Surgery center chain Symbion posted a net loss of $1.1 million in the second quarter, an improvement from $1.9 million from a year ago. Revenues rose 20 percent to $104 million, helped by revenues from newly acquired facilities.
Operating margins at the Nashville-based company ticked up to 18.3 percent, 10 basis points higher than the spring of 2009. Proportionally smaller interest rate costs and lower tax expenses made the difference on the bottom line.
The number of cases at same-store centers fell 1.6 percent but was almost offset by a 1.4 percent gain in net revenue per procedure. The company’s newly acquired centers contributed more than $21.8 million in revenues and $4.4 million in gross profits.
Other notes from the quarter — check out the 10-Q with all the numbers here — include:
• a jump of $1 million in the company’s provision for doubtful accounts, which amounted to 1.7 percent of revenues at the end of the quarter.
• the $18 million acquisition last month of 37 percent of a suburban St. Louis surgery center, lifting Symbion’s stake in the facility to 50 percent.
• the placement of two centers on the discontinued operations roster, where Symbion’s stake is on the sale block.