Non-profit hospital chain Orlando Health reported its third positive financial quarter in a row on Friday, for the period ending March 31. Growth in income follows a rough mid-year in 2013 that saw cutbacks including pay cuts.
Orlando Health Inc. reported $26.6 million in net operating income for the latest quarter, the second of the company's 2014 financial year, according to dacbond.com, a site run by accounting company Digital Assurance Certification.
Orlando Health’s income was based on total operating revenue of $519 million and total operating expenses of just under $493 million for the quarter. In August of 2013, the company had been a target of protests over some pay cuts.
Revenue was up more than 6 percent, while expenses were up less than 4 percent compared with the same quarter in 2013. The hospital company reported a 2 percent decrease in its long-term debt, which still is hovering just over $1 billion.Copyright © 2015, CT Now