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FY 2007 Q4 and Y-T-D |
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About Fletcher Allen > Financial Information > FY 2007 Q4 and Y-T-D |
Fletcher Allen's Year-End and Fourth Quarter Financial Results for Fiscal Year 2007
Fletcher Allen's 2007 Fiscal Year ended with a $19.7 million net operating gain, including a fourth-quarter loss of $2.1 million in net operating revenue.
Fiscal Year 2007 Results
For the year ended September 30, 2007, Fletcher Allen earned $19.7 million in net operating revenue, $2.6 million above the budgeted amount of $17 million.
Total operating revenues were $744 million and the year-end operating margin was 2.6%. Operating expenses for the year were $724 million.
Operating earnings before interest, depreciation and amortization (EBIDA) for the fiscal year totaled $73.1 million compared to the $71.4 budget figure and $67.8 million for FY 2006.
Days cash on hand stood at 114.4 days at the end of FY07, compared with 89 days at the end of FY06. This indicator is a projected estimate of the number of days an organization could meet operating expenditures provided no additional revenues were received.
Key volume measures were mixed for the year. Total inpatient discharges were below budget by 108 (5.8%). However, combined inpatient and outpatient days, a measure of the number of patients in the hospital each day, were 18.0% above budget, and physician office visits were 4.6% below budget.
Fourth Quarter
Net income from operations posted a loss of $2.1 million, $6.2 million below the budget for the quarter.
Total operating revenues were $186.9 million, above budgeted amount of $179.3 million. However, operating expenses, at $189.0 million, were above budget by $13.8 million. The operating margin was -1.1% for the fourth quarter.
The institution began making its quarterly financials public with the release of the first quarter results for FY 2003 in February 2003. Complete audits from FY 2002 through FY 2007 are available on the Fletcher Allen Web site a www.FletcherAllen.org.
