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Summit Health’s Profit Rises 46% in 4th Quarter

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Summit Health Ltd., a Burbank-based operator of hospitals, nursing centers and a health maintenance organization, said its profit surged 46% in its fiscal fourth quarter compared with a year earlier.

For the quarter that ended June 30, Summit Health posted earnings of $4.6 million, compared with $3.16 million a year earlier. The year-earlier figure does not include $1.8 million in extraordinary charges. Revenue for the latest quarter was $125.7 million, up 1% from $124.1 million a year earlier.

Don Amaral, chief executive officer, attributed the stronger results to increased outpatient and emergency visits, and outpatient surgeries as well as lower operating costs.

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For its fiscal year that ended June 30, Summit Health’s profit climbed 44%, to $18.6 million from $12.9 million, which also excludes the extraordinary charges. Its revenue went up 7%, to $508.5 million from $474.4 million a year earlier.

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