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SunLink Health Systems Inc. (SSY) RSS Feed

Followers
8
Posters
29
Posts (Today)
0
Posts (Total)
200
Created
01/16/11
Type
Free
Moderators
Here is the news that is moving the stock recently:

http://www.businesswire.com/news/home/20160819005694/en/SunLink-Health-Systems-Subsidiary-Sells-Chestatee-Regional

ATLANTA--(BUSINESS WIRE)--SunLink Health Systems, Inc. (NYSE:MKT: SSY) today announced that a subsidiary has sold its Chestatee Regional Hospital in Dahlonega, GA for approximately $15,000,000. The company expects to recognize an after tax gain (utilizing available net operating loss carry-forwards) of approximately $7,000,000 on the transaction which closed on August 19, 2016. A portion of the proceeds will be allotted for the payment of debt and the balance will be retained for working capital and general corporate purposes.

What is the effect?

Annual Report (10-K) just released on September 30 for the year ended June 30, 2016)

On the report they have listed the August sold assets at  $7.633 Million.

At this point, it's time to update the math

Total Shareholders’ Equity was $19,489,000

As there has been no dilution, the number of shares outstanding is 9,443,408.

Quick math suggested that the book value was $2.06

The effect of the news is to increase the Shareholder's equity by approximately $7,000,000

As such, the adjusted shareholders' equity is $26,489,000

Again, no dilution, so the number of shares outstanding is still 9,443,408.

This suggests an Adjusted Book Value of $2.80/share. This is revised down from $2.94 from the previous quarterly report (see post 165 for comparison).

Also note that the company has mentioned the possibility of a share buyback or a dividend in regards to funds from a smaller business deal.

Moderator has attempted contact with company, but has received no response.

NOTE: The information above is just quick math based on what the company has released to the public. The moderator is posting this as a quick primer as to why the stock may be moving. Do your own research and due diligence before making any decisions. Information contained within may be outdated or irrelevant by the time you read this.

Last updated: 01 October 2016
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