UPDATE 1-Medical Facilities posts Q2 profit on lower costs

* Q2 profit $2.5 mln vs year-ago loss of $4.5 mln

* Consolidated facility service rev down 2 pct

* Says to sell Barranca Surgery Center stake

Aug 13 (BestGrowthStock) – Medical Facilities Corp (DR_u.TO: )
reported a quarterly profit as cost of drugs and supplies fell,
and the operator of specialty surgical hospitals said it was in
talks to sell its stake in a California surgery center.
Operations at California’s Barranca Surgery Center have been
hurt by the departure of several physician owners, the company
said.

For the second quarter, net income was $2.5 million, or 9
cents per income participating security (IPS) unit, compared
with a net loss of $4.5 million, or 15 cents per IPS unit, a
year ago.

Consolidated facility service revenue was down marginally
to $51.2 million from $52.2 million, due mainly to weaker
revenue at its California ambulatory surgery centers, the
company said.

Consolidated operating expenses fell 2 percent to $32.1
million. Operating margin was 37.3 percent, up from 37.1
percent in the year-ago quarter.
(Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by
Aradhana Aravindan)

UPDATE 1-Medical Facilities posts Q2 profit on lower costs