Summit Care Corp. Shows 26% Profit in 1st Quarter
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Summit Care Corp., a Burbank-based operator of nursing homes, said its fiscal first-quarter profit surged 26% on an 11% increase in revenue.
In the quarter that ended Sept. 30, Summit Care’s net income rose to $1.24 million from $989,000 a year earlier. Revenue increased to $22.1 million from $19.9 million.
William C. Scott, Summit Care’s president, said revenue for its specialty medical services and pharmacy showed strong gains.
Summit Care is 51% owned by Summit Health Ltd., a hospital operator also based in Burbank.
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