Nu-Med’s 2nd-Quarter Profits Dip 15% While Sales Rise 51%
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Nu-Med, an Encino-based hospital chain, reported that its profits fell 15% while sales rose 51% in its second fiscal quarter ended Oct. 31, contrasted with last year’s corresponding period. Earnings were $1.6 million, or 14 cents a share, on sales of $74.3 million, the company said.
For the six months ended Oct. 31, profits were $2.7 million, or 24 cents a share, down 14% from the same period in 1984. Sales were up nearly 45% to $140.4 million.
The company attributed its weaker performance to seasonally lower occupancy rates in two Florida hospitals acquired by the company in April.
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