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

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.

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.