SunLink Health Systems, Inc - SSY STOCK NEWS

Applied UV, Inc. has appointed Eugene Burleson as Chairman of the Board, following the acquisition of Puro Lighting, LLC and LED Supply Co. Max Munn has been promoted to CEO and President. The management team now includes Brian Stern and Andrew Lawrence, co-founders of Puro. The company has established a Global Scientific Advisory Board featuring leaders in medicine and viticulture, including Dr. Bernard C. Camins and Dr. Christopher E. Mason. This strategic leadership shift aims to enhance the effectiveness of its pathogen elimination technologies and boost market penetration. The advisory board will contribute expertise in educating potential clients about Applied UV's air and surface disinfection solutions, supporting the company's commitment to improving indoor air quality across various sectors.

SunLink Health Systems (SSY) reported significant financial improvement for Q2 of fiscal year 2022, with earnings from continuing operations at $2,052,000 ($0.29 per share), compared to a loss of $477,000 in Q2 2021. Net earnings registered $1,951,000, up from a net loss of $593,000 a year prior. Total net revenues surged by 38.2% to $14,392,000, notably due to a $2,615,000 reversal of accrued sales tax reserves in the Pharmacy Segment. Operating profit rose to $2,040,000 from an operating loss of $1,072,000 in 2021. However, the company continues to face challenges from the COVID-19 pandemic, affecting operations and future estimates.

SunLink Health Systems, Inc. (SSY) reported a loss of $1,544,000, or $0.22 per share, for Q1 FY 2022, contrasting with a profit of $2,006,000 for Q4 FY 2021. The company achieved net revenues of $11,037,000, up 4.9% year-over-year, driven largely by increases in healthcare services and pharmacy sales. Operating losses expanded to $1,613,000 due to rising costs and staffing challenges. Cash reserves dropped to $4,951,000, down $1,843,000 from June 2022. The ongoing effects of the COVID-19 pandemic continue to impact operations significantly.

SunLink Health Systems, Inc. (SSY) reported a significant loss for Q4 2022, with a net loss of $2,365,000 or $0.34 per diluted share, down from a profit of $4,687,000 in Q4 2021. The decrease in net revenues to $9,881,000, a 4.4% decline from the previous year, was driven by reduced Healthcare Services revenues, partially offset by gains in the Pharmacy Segment. For the full fiscal year 2022, net loss stood at $2,009,000, contrasting with a profit of $6,890,000 in 2021. The company's financial struggles were exacerbated by non-recurring government support and increased operational costs due to the pandemic.

SunLink Health Systems (NYSE American: SSY) reported a loss from continuing operations of $934,000 ($0.13 per share) for Q3 2022, an increase from a $473,000 loss in Q3 2021. Net revenues rose 7.7% to $10,527,000, driven by growth in the Healthcare and Pharmacy segments. Operating losses increased to $1,064,000 due to rising costs. For the nine months ending March 31, 2022, net earnings fell to $356,000 from $2,203,000 in 2021. The company continues to face challenges from COVID-19, including staffing difficulties and reduced demand for services, impacting overall financial performance.

SunLink Health Systems (NYSE American: SSY) reported a significant loss of $477,000 ($0.07 per share) for Q2 ended December 31, 2021, compared to a profit of $3,146,000 ($0.46 per share) in Q2 2020. Revenue increased by 2.6% to $10,411,000, thanks to growth in the Healthcare and Pharmacy segments. However, operating losses widened to $1,072,000 due to rising operational costs. The company received $614,000 in Provider Relief Funds this quarter, down from $3,417,000 the previous year. The continuing impact of the COVID-19 pandemic on healthcare demand and staffing is a concern.