AMI Earnings Sag in Second Quarter
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American Medical International Inc. reported Monday that earnings for the second quarter ended Feb. 29 were $24.1 million, compared to $28 million for the comparable period of fiscal 1987.
Net revenue for the period totaled $719.4 million, an increase of 8.1% over net revenue of $665.5 million for the second quarter of fiscal 1987. Total first-half earnings were $63.3 million, compared to $56.6 million in the year-ago period.
Second-quarter and first-half results included a gain of $20.4 million from the sale of 35% interest in AMI Healthcare PLC, AMI’s United Kingdom subsidiary, offset by the provision of reserves of $20 million for the disposition and sale of several hospital facilities.
In a filing with the Securities and Exchange Commission, meanwhile, a group including Investment LP, a Ft. Worth investment partnership, said it holds 5.1% of common shares outstanding.
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