Health care is powerful and very visible force in Middle Tennessee, where it accounts for one out of every eight jobs. But entities based in and around Nashville also have an international reach that touches millions of people on just about every continent. Here, from our new Healthier magazine out new, are just a few data points.
Drug marketer Cumberland Pharmaceuticals lost $832,000 in its third quarter, reversing a year-ago profit of $1.9 million. Revenues were $6.5 million versus $12.5 million but operating expenses fell just 16 percent to $8.0 million. Through the first nine months of this year, the West End-based company generated just $940,000 in cash flow from operations versus more than $45million in 2012.
Automotive insurer First Acceptance posted a third-quarter profit of $2.1 million. That down from $3.4 million a year earlier but that quarter included more than $3 million in investment gains. The Green Hills company saw its combined ratio — which measures premiums relative to losses and operating expenses — fall to 96.3 percent from 99.9 percent the year before. The company's number of policies in force has climbed almost 7 percent this year to more than 157,000.
Shares of Cumberland Pharmaceuticals took a beating Wednesday after the company reported a second-quarter loss. At about 2 p.m., they were off more than 13 percent to $4.84, which would be their lowest close since late May. Shares ended trading for the day down 11.83 percent. Optimistic investors looking for a silver light might find one in the stock's volume, which was not even twice the average daily volume of recent weeks' sessions.