CHARLOTTE–MedCath Corp., which operates heart treatment hospitals, reports a loss of $933,000 or 5 cents a diluted share for the first quarter 2004, compared with net earnings of $390,000 or 2 cents a share in the fiscal 2003 first quarter.
The company says bad debts, the cost of supplies and opening new facilities accounted for the loss.
Charlotte-based MedCath reported income from operations fell to $4.2 million compared with $6.5 million in the first quarter 2003. Revenue increased, however, to $156.6 million from $121.1 million in 2003.
