MedCath Corp., Charlotte, N.C., reported a 28.2% increase in net revenue and more than quadrupled its profit for its fiscal 2004 second quarter.
Revenue for the cardiac-care hospital chain rose to $173.3 million in the quarter ended March 31, from $135.2 million in the year-ago quarter. Net income was $2.6 million, or 14 cents per share, compared with $588,000, or 3 cents per share, in the year-ago quarter.
Same-facility adjusted admissions increased 21.5%, and same-facility net revenue improved by 18.1%.
MedCath said the growth reflected several factors, including a 14.8% jump in inpatient catheterization procedures and a 7.7% rise in inpatient surgical procedures.
MedCath operates 13 cardiac-care facilities with 759 licensed beds.