News Column

BRIEF: Premier posts profit, continues to pursue deals

August 25, 2014

By Rick Rothacker, The Charlotte Observer



Aug. 25--Charlotte-based Premier Inc., which provides purchasing and performance improvement services to an alliance of 3,000 hospitals, said its fiscal fourth quarter ending June 30 swung to a profit, but revenue slipped.

Premier reported net income attributable to shareholders of $8.9 million, an improvement from a year-ago loss of $797,000. Total revenue slipped to $235.5 million from $240.6 million a year ago.

The health care company also reported results adjusted for the company's reorganization and initial public offering last fall. Using those numbers, net revenue increased 17 percent from pro forma results a year ago.

In fiscal year 2014, Premier acquired three companies for a total of $42.6 million in cash, and it announced two more deals in August, including an agreement Monday to buy a software company called Aperek. In a statement, Premier CEO Susan DeVore said the company "remains active" in its search for additional deals.

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(c)2014 The Charlotte Observer (Charlotte, N.C.)

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Source: Charlotte Observer (NC)


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