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Charlotte, N.C.-Based Heart Hospital Developer Posts Third-Quarter Loss.

Knight Ridder/Tribune Business News

| August 21, 2001 | COPYRIGHT 1999 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

By Mike Stobbe, The Charlotte Observer, N.C. Knight Ridder/Tribune Business News

Aug. 21--In its first earnings report since going public last month, MedCath Corp. on Monday said it lost money in the third quarter, but not as much as it has previously.

The Charlotte-based company had a net loss of $233,000, or 2 cents a share, for the three months ended June 30. In the third quarter of 2000, the loss was $5.6 million, or 47 cents a share.

Net revenues were up by 6.6 percent, to $89.7 million from $84.2 million.

MedCath began by operating mobile cardiac catheterization laboratories, but now is known as a developer of heart hospitals. It …

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