2019 Q1 Form 10-Q Financial Statement
#000156459020025523 Filed on May 14, 2020
Income Statement
| Concept | 2019 Q1 |
|---|---|
| Revenue | $12.36M |
| YoY Change | -7.87% |
| Cost Of Revenue | $5.539M |
| YoY Change | 724.26% |
| Gross Profit | $6.822M |
| YoY Change | -46.47% |
| Gross Profit Margin | 55.19% |
| Selling, General & Admin | $6.078M |
| YoY Change | 4.45% |
| % of Gross Profit | 89.09% |
| Research & Development | |
| YoY Change | |
| % of Gross Profit | |
| Depreciation & Amortization | $367.0K |
| YoY Change | -4.18% |
| % of Gross Profit | 5.38% |
| Operating Expenses | $7.310M |
| YoY Change | 4.73% |
| Operating Profit | -$488.0K |
| YoY Change | -32.22% |
| Interest Expense | $63.00K |
| YoY Change | 12.5% |
| % of Operating Profit | |
| Other Income/Expense, Net | |
| YoY Change | |
| Pretax Income | -$551.0K |
| YoY Change | -7.08% |
| Income Tax | -$226.0K |
| % Of Pretax Income | |
| Net Earnings | $1.042M |
| YoY Change | -277.21% |
| Net Earnings / Revenue | 8.43% |
| Basic Earnings Per Share | $0.15 |
| Diluted Earnings Per Share | $0.15 |
| COMMON SHARES | |
| Basic Shares Outstanding | 6.987M |
| Diluted Shares Outstanding | 6.987M |
Balance Sheet
| Concept | 2019 Q1 |
|---|---|
| SHORT-TERM ASSETS | |
| Cash & Short-Term Investments | $9.160M |
| YoY Change | 158.68% |
| Cash & Equivalents | $9.160M |
| Short-Term Investments | |
| Other Short-Term Assets | $2.664M |
| YoY Change | -13.59% |
| Inventory | $2.003M |
| Prepaid Expenses | |
| Receivables | $5.251M |
| Other Receivables | $0.00 |
| Total Short-Term Assets | $19.08M |
| YoY Change | 31.74% |
| LONG-TERM ASSETS | |
| Property, Plant & Equipment | $5.488M |
| YoY Change | -47.95% |
| Goodwill | |
| YoY Change | |
| Intangibles | $1.383M |
| YoY Change | -7.8% |
| Long-Term Investments | |
| YoY Change | |
| Other Assets | $806.0K |
| YoY Change | -16.82% |
| Total Long-Term Assets | $7.982M |
| YoY Change | -40.03% |
| TOTAL ASSETS | |
| Total Short-Term Assets | $19.08M |
| Total Long-Term Assets | $7.982M |
| Total Assets | $27.06M |
| YoY Change | -2.63% |
| SHORT-TERM LIABILITIES | |
| YoY Change | |
| Accounts Payable | $1.527M |
| YoY Change | 21.77% |
| Accrued Expenses | $275.0K |
| YoY Change | -6.14% |
| Deferred Revenue | |
| YoY Change | |
| Short-Term Debt | $0.00 |
| YoY Change | |
| Long-Term Debt Due | $319.0K |
| YoY Change | 23.64% |
| Total Short-Term Liabilities | $6.040M |
| YoY Change | 14.29% |
| LONG-TERM LIABILITIES | |
| Long-Term Debt | $2.739M |
| YoY Change | -4.33% |
| Other Long-Term Liabilities | $236.0K |
| YoY Change | -22.37% |
| Total Long-Term Liabilities | $3.749M |
| YoY Change | -4.34% |
| TOTAL LIABILITIES | |
| Total Short-Term Liabilities | $6.040M |
| Total Long-Term Liabilities | $3.749M |
| Total Liabilities | $9.789M |
| YoY Change | 6.36% |
| SHAREHOLDERS EQUITY | |
| Retained Earnings | $3.210M |
| YoY Change | -23.52% |
| Common Stock | $14.24M |
| YoY Change | -3.25% |
| Preferred Stock | |
| YoY Change | |
| Treasury Stock (at cost) | |
| YoY Change | |
| Treasury Stock Shares | |
| Shareholders Equity | $17.27M |
| YoY Change | |
| Total Liabilities & Shareholders Equity | $27.06M |
| YoY Change | -2.63% |
Cashflow Statement
| Concept | 2019 Q1 |
|---|---|
| OPERATING ACTIVITIES | |
| Net Income | $1.042M |
| YoY Change | -277.21% |
| Depreciation, Depletion And Amortization | $367.0K |
| YoY Change | -4.18% |
| Cash From Operating Activities | -$661.0K |
| YoY Change | 118.15% |
| INVESTING ACTIVITIES | |
| Capital Expenditures | $223.0K |
| YoY Change | -19.78% |
| Acquisitions | |
| YoY Change | |
| Other Investing Activities | $6.899M |
| YoY Change | 1574.51% |
| Cash From Investing Activities | $6.554M |
| YoY Change | -32870.0% |
| FINANCING ACTIVITIES | |
| Cash Dividend Paid | |
| YoY Change | |
| Common Stock Issuance & Retirement, Net | |
| YoY Change | |
| Debt Paid & Issued, Net | |
| YoY Change | |
| Cash From Financing Activities | -59.00K |
| YoY Change | -106.56% |
| NET CHANGE | |
| Cash From Operating Activities | -661.0K |
| Cash From Investing Activities | 6.554M |
| Cash From Financing Activities | -59.00K |
| Net Change In Cash | 5.834M |
| YoY Change | 911.09% |
| FREE CASH FLOW | |
| Cash From Operating Activities | -$661.0K |
| Capital Expenditures | $223.0K |
| Free Cash Flow | -$884.0K |
| YoY Change | 52.15% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2020Q1 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
10000 | |
| CY2019Q1 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-63000 | |
| us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-24000 | ||
| us-gaap |
Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
|
0 | ||
| us-gaap |
Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
|
6899000 | ||
| us-gaap |
Proceeds From Sale Of Other Assets Investing Activities
ProceedsFromSaleOfOtherAssetsInvestingActivities
|
558000 | ||
| us-gaap |
Proceeds From Sale Of Other Assets Investing Activities
ProceedsFromSaleOfOtherAssetsInvestingActivities
|
937000 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-326000 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
6797000 | ||
| us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
3025000 | ||
| us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
193000 | ||
| us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
88000 | ||
| us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
383000 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-3113000 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-576000 | ||
| us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-3739000 | ||
| us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
5704000 | ||
| CY2020Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
4003000 | |
| CY2019Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
9160000 | |
| us-gaap |
Interest Paid Net
InterestPaidNet
|
74000 | ||
| us-gaap |
Interest Paid Net
InterestPaidNet
|
168000 | ||
| us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
-43000 | ||
| us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
0 | ||
| us-gaap |
Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
|
0 | ||
| us-gaap |
Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
|
176000 | ||
| us-gaap |
Transfer To Other Real Estate
TransferToOtherRealEstate
|
371000 | ||
| us-gaap |
Transfer To Other Real Estate
TransferToOtherRealEstate
|
0 | ||
| ssy |
Right Of Use Asset Obtained In Exchange For Lease Liability
RightOfUseAssetObtainedInExchangeForLeaseLiability
|
1462000 | ||
| ssy |
Right Of Use Asset Obtained In Exchange For Lease Liability
RightOfUseAssetObtainedInExchangeForLeaseLiability
|
0 | ||
| us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Note 2. – Business Operations </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.24%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">SunLink Health Systems, Inc., through subsidiaries, owns businesses which are providers of healthcare services in certain markets in the United States. SunLink’s subsidiaries’ businesses are composed of two business segments:</p> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Healthcare Services</p> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.25%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"> </p></td> <td valign="top" style="width:4.25%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:'Times New Roman';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-size:10pt;font-family:'Times New Roman'">•</font></p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"><font style="font-family:Times New Roman;">A subsidiary which owns and operates Trace Regional Hospital and Floy Dyer Nursing Home (“Trace”), an 84 licensed-bed acute care hospital, located in Houston, Mississippi, which includes an 18-bed geriatric psychology unit (“GPU”), and a 66-bed nursing home. This facility focuses primarily on senior healthcare services.</font>   </p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.25%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"> </p></td> <td valign="top" style="width:4.25%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:'Times New Roman';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-size:10pt;font-family:'Times New Roman'">•</font></p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"><font style="font-family:Times New Roman;">A subsidiary, SunLink Health Systems Technology (SHS Technology), based in Atlanta, Georgia, which provides information technology (IT) services to outside customers and to SunLink subsidiaries.</font></p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.25%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"> </p></td> <td valign="top" style="width:4.25%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:'Times New Roman';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-size:10pt;font-family:'Times New Roman'">•</font></p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"><font style="font-family:Symbol;"><font style="font-size:10pt;font-family:'Times New Roman'">A</font><font style="font-size:10pt;font-family:'Times New Roman'"> </font></font><font style="font-family:Times New Roman;">subsidiary which owns approximately five (5) acres of unimproved land in Houston, Mississippi.</font> </p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:3.12%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="top" style="width:3.12%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">•</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> <font style="font-family:Symbol;"><font style="font-size:10pt;font-family:'Times New Roman'">A</font><font style="font-size:10pt;font-family:'Times New Roman'"> </font></font>subsidiary which owns approximately 25 acres of unimproved land in Ellijay, Georgia.</p></td></tr></table></div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Pharmacy</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.24%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Pharmacy segment is composed of four operational areas which are conducted primarily in rural markets in Louisiana:</p> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.25%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"> </p></td> <td valign="top" style="width:4.25%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:'Times New Roman';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-size:10pt;font-family:'Times New Roman'">•</font></p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"><font style="font-family:Times New Roman;">Retail pharmacy products and services, provided by a retail pharmacy. </font></p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.25%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"> </p></td> <td valign="top" style="width:4.25%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:'Times New Roman';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-size:10pt;font-family:'Times New Roman'">•</font></p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"><font style="font-family:Times New Roman;">Institutional pharmacy services consisting of the provision of specialty and non-specialty pharmaceutical and biological products to institutional clients or to patients in institutional settings, such as nursing homes, assisted living facilities, behavioral and specialty hospitals, hospice, and correctional facilities.</font></p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.25%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"> </p></td> <td valign="top" style="width:4.25%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:'Times New Roman';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-size:10pt;font-family:'Times New Roman'">•</font><font style="font-family:'Times New Roman';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="font-family:'Times New Roman';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font></p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"><font style="font-family:Times New Roman;">Non-institutional pharmacy services consisting of the provision of specialty and non-specialty pharmaceutical and biological products to clients or patients in non-institutional settings including private residential homes. </font></p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.25%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"> </p></td> <td valign="top" style="width:4.25%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:'Times New Roman';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-size:10pt;font-family:'Times New Roman'">•</font><font style="font-family:'Times New Roman';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></font></p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman'"> </font><font style="font-family:Times New Roman;">Durable medical equipment products and services (“DME”), consisting primarily of the sale and rental of products for institutional clients or to patients in institutional settings and patient-administered home care.</font></p></td></tr></table></div> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.24%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">SunLink subsidiaries have conducted the Healthcare Services business since 2001 and the Pharmacy operations since 2008. Our Pharmacy segment currently is operated through Carmichael’s Cashway Pharmacy, Inc. (“Carmichael”), a subsidiary of our SunLink ScriptsRx, LLC subsidiary.</p> <p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:6pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:6pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#212529;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">COVID-19 Pandemic</font></p> <p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:6pt;margin-top:0pt;text-indent:3.91%;color:#212529;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">A novel strain of coronavirus (“COVID-19”) was declared a global pandemic by the World Health Organization on March 11, 2020. We have been monitoring the COVID-19 pandemic and its impact on our operations, and we have taken significant steps intended to minimize the risk to our employees and patients. Certain employees have been working remotely, but we believe these remote work arrangements have not affected our ability to maintain critical business operations, which are being conducted substantially in accordance with our understanding of applicable government health and safety protocols and guidance issued in response to the COVID-19 pandemic, although such protocols and guidance are very recent, rapidly changing and at times, unclear. Nevertheless, as in many healthcare environments, we have experienced COVID-19 illness, including deaths, and some employees have tested positive and have been place on leave or in quarantine. </p> <p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:3.91%;color:#212529;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Since the beginning of the COVID-19 pandemic, our Pharmacy business has experienced negative sales trends, increased costs and reduced staff. Retail Pharmacy and DME locations are operating with curbside or drive-through services only and many of our primary physician referral sources have been closed or are operating at substantially reduced capacity. Until these referral sources are open and fully-staffed, we believe the COVID-19 pandemic will continue to affect the demand for DME products and Pharmacy drugs and products. Reductions in employee hours have been made in response to the lower demand. Demand for our Institutional Pharmacy services has been less affected to date. Nursing homes and other customers of such Institutional Pharmacy services are currently being adversely affected by the spreading of the COVID-19 pandemic, and this may be expected to have a further negative effect on such demand. Our Institutional Pharmacy services have experienced increased costs and operational inefficiencies due to measures taken to protect our employees and by access controls and other restrictions implemented by our institutional customers. The impact of the COVID-19 pandemic has negatively affected our supply processes, especially with respect to access to respiratory equipment and certain protective equipment and cleaning products. The effect of the COVID–19 pandemic and public and governmental responses to it negatively affected our third fiscal quarter results, principally in the last two weeks of March 2020.</p> <p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:3.91%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:3.91%;color:#212529;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In our Healthcare businesses, we have experienced material reductions in demand due to the COVID-19 outbreak. There appears to be no current demand for nursing home admissions, and clinic visits and hospital services have substantially decreased as well. The availability and cost of medical supplies have adversely affected our Healthcare businesses, especially with respect to access to protective equipment, cleaning supplies and COVID-19 testing materials. We continue to monitor supplies and seek additional sources of many supply items. A reduction of the availability of qualified employees has also occurred. Although the Healthcare and Pharmacy segments received the Paycheck Protection Program (“PPP”) loans totaling approximately $3,234 in April and May, despite good faith efforts to do so, they have not yet been able to rehire or fully replace staff reductions which were previously furloughed or laid off.</p> <p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:3.91%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:3.91%;color:#212529;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We believe that existing funds, cash generated from operations and additional sources of and access to financing from COVID-19 related government loans and grants will likely be adequate to satisfy our needs for working capital and capital expenditures in the near term. However, if the COVID-19 pandemic continues for an extended period, we expect to experience significant losses and additional financial assistance will likely be required. The Coronavirus Aid, Relief and Economic Security (“CARES”) Act was enacted by the U.S. government on March 27, 2020. As part of CARES, the PPP loan program was established. The PPP is administered by the U.S. Small Business Administration. In April and May 2020, the Company and five subsidiaries received approximately $3,234 of PPP loans. Forgiveness of PPP loans may be available if the loans are used to pay wages, rent, utilities and interest on certain debt during the eight-week period following receipt of the loan proceeds. There can be no assurance, however, that any of the PPP loans we received will be forgiven, or if forgiven, the amount of such forgiveness. Loan proceeds not forgiven are payable over two years at a 1% annual interest rate. Also, as part of CARES, two subsidiaries of the Company received total payments of approximately $4,082 under the Relief Fund Payments (“RFP”). These RFP funds were allocated to Medicare facilities and providers affected by COVID-19 based on eligible providers net patient revenues and are required to be used for COVID-19 related costs and to offset the effect of COVID-19, including reduced revenues. </p> <p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:3.91%;color:#212529;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> <font style="color:#000000;"> </font> </p> <p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:3.91%;color:#212529;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Going forward, the Company is unable to determine the extent to which the COVID-19 pandemic will continue to affect its assets. Our ability to make estimates of the effect the COVID-19 pandemic on revenues, expenses or changes in accounting judgments that have had or are reasonably likely to have a material effect on our financial statements is currently limited. The nature and extent of the effect of the COVID-19 pandemic on our balance sheet and results of operations will depend on the severity and length of the pandemic; government actions to mitigate the pandemic’s effect; regulatory changes in response to the pandemic, especially those that affect our hospital, nursing home and pharmacy operations; and existing and potential government assistance that may be provided. </p> | ||
| us-gaap |
Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
|
452000 | ||
| CY2020Q1 | us-gaap |
Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
|
-112000 | |
| us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
2 | ||
| ssy |
Cares Act Of2020 Aid Amount
CARESActOf2020AidAmount
|
4082000 | ||
| CY2020Q1 | ssy |
Disposal Group Including Discontinued Operation Revenue Net Of Expenses
DisposalGroupIncludingDiscontinuedOperationRevenueNetOfExpenses
|
-11000 | |
| CY2019Q1 | ssy |
Disposal Group Including Discontinued Operation Revenue Net Of Expenses
DisposalGroupIncludingDiscontinuedOperationRevenueNetOfExpenses
|
1726000 | |
| ssy |
Disposal Group Including Discontinued Operation Revenue Net Of Expenses
DisposalGroupIncludingDiscontinuedOperationRevenueNetOfExpenses
|
26000 | ||
| ssy |
Disposal Group Including Discontinued Operation Revenue Net Of Expenses
DisposalGroupIncludingDiscontinuedOperationRevenueNetOfExpenses
|
5655000 | ||
| CY2019Q1 | us-gaap |
Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
|
-336000 | |
| us-gaap |
Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
|
-475000 | ||
| us-gaap |
Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
|
-383000 | ||
| CY2020Q1 | us-gaap |
Discontinued Operation Gain Loss From Disposal Of Discontinued Operation Before Income Tax
DiscontinuedOperationGainLossFromDisposalOfDiscontinuedOperationBeforeIncomeTax
|
0 | |
| CY2019Q1 | us-gaap |
Discontinued Operation Gain Loss From Disposal Of Discontinued Operation Before Income Tax
DiscontinuedOperationGainLossFromDisposalOfDiscontinuedOperationBeforeIncomeTax
|
2136000 | |
| us-gaap |
Discontinued Operation Gain Loss From Disposal Of Discontinued Operation Before Income Tax
DiscontinuedOperationGainLossFromDisposalOfDiscontinuedOperationBeforeIncomeTax
|
0 | ||
| us-gaap |
Discontinued Operation Gain Loss From Disposal Of Discontinued Operation Before Income Tax
DiscontinuedOperationGainLossFromDisposalOfDiscontinuedOperationBeforeIncomeTax
|
2136000 | ||
| CY2020Q1 | us-gaap |
Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
|
0 | |
| CY2019Q1 | us-gaap |
Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
|
433000 | |
| us-gaap |
Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
|
0 | ||
| us-gaap |
Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
|
433000 | ||
| us-gaap |
Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
|
87534 | ||
| ssy |
Share Repurchase Average Price Per Share Paid
ShareRepurchaseAveragePricePerSharePaid
|
1.15 | ||
| us-gaap |
Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
|
359959 | ||
| ssy |
Share Repurchase Average Price Per Share Paid
ShareRepurchaseAveragePricePerSharePaid
|
1.03 | ||
| CY2020Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
0 | |
| CY2019Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
0 | |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
27000 | ||
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
0 | ||
| CY2020Q1 | us-gaap |
Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
|
6334000 | |
| CY2019Q2 | us-gaap |
Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
|
5230000 | |
| CY2019Q2 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
515000 | |
| CY2019Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
648000 | |
| CY2020Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
|
113000 | |
| CY2020Q1 | us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
9000 | |
| us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
27000 | ||
| CY2018Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
459000 | |
| CY2019Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
|
254000 | |
| CY2020Q1 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
157000 | |
| us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
463000 | ||
| CY2019Q2 | us-gaap |
Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
|
195000 | |
| CY2020Q1 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
0 | |
| CY2019Q1 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
-189000 | |
| us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
0 | ||
| us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
-189000 | ||
| CY2020Q1 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
0 | |
| CY2019Q1 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
-37000 | |
| CY2019Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
466000 | |
| CY2018Q2 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
529000 | |
| us-gaap |
Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
|
661000 | ||
| CY2020Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
29000 | |
| CY2019Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
29000 | |
| us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
87000 | ||
| us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
87000 | ||
| CY2020Q1 | us-gaap |
Capital Lease Obligations
CapitalLeaseObligations
|
132000 | |
| CY2019Q2 | us-gaap |
Capital Lease Obligations
CapitalLeaseObligations
|
159000 | |
| CY2020Q1 | us-gaap |
Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
|
0 | |
| us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
0 | ||
| us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
-37000 | ||
| CY2020Q1 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
8699000 | |
| CY2020Q1 | us-gaap |
Deferred Tax Assets Liabilities Net Noncurrent
DeferredTaxAssetsLiabilitiesNetNoncurrent
|
0 | |
| CY2020Q1 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
19831000 | |
| ssy |
Net Operating Loss Carry Forwards Expire Period
NetOperatingLossCarryForwardsExpirePeriod
|
2023 through fiscal 2038 | ||
| us-gaap |
Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
|
3200000 | ||
| CY2020Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
147000 | |
| us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
437000 | ||
| CY2020Q1 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
9000 | |
| us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
24000 | ||
| CY2020Q1 | ssy |
Operating Variable Lease Cost
OperatingVariableLeaseCost
|
1000 | |
| ssy |
Operating Variable Lease Cost
OperatingVariableLeaseCost
|
2000 | ||
| CY2020Q1 | us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
2000 | |
| us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
7000 | ||
| CY2020Q1 | ssy |
Finance Lease Cost
FinanceLeaseCost
|
11000 | |
| ssy |
Finance Lease Cost
FinanceLeaseCost
|
34000 | ||
| CY2020Q1 | us-gaap |
Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
|
203000 | |
| CY2020Q1 | us-gaap |
Finance Lease Right Of Use Asset Statement Of Financial Position Extensible List
FinanceLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
|
us-gaap:PropertyPlantAndEquipmentNet | |
| CY2020Q1 | us-gaap |
Property Plant And Equipment Owned Accumulated Depreciation
PropertyPlantAndEquipmentOwnedAccumulatedDepreciation
|
36000 | |
| CY2020Q1 | us-gaap |
Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
|
34000 | |
| CY2020Q1 | us-gaap |
Finance Lease Liability Current Statement Of Financial Position Extensible List
FinanceLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
|
us-gaap:LongTermDebtCurrent | |
| CY2020Q1 | us-gaap |
Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
|
98000 | |
| CY2020Q1 | us-gaap |
Finance Lease Liability Noncurrent Statement Of Financial Position Extensible List
FinanceLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList
|
us-gaap:LongTermDebtNoncurrent | |
| CY2020Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
148000 | |
| us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
437000 | ||
| CY2020Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
|
0 | |
| us-gaap |
Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
|
0 | ||
| CY2020Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P3Y7M28D | |
| CY2020Q1 | us-gaap |
Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
|
P3Y8M26D | |
| CY2020Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0654 | |
| CY2020Q1 | us-gaap |
Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
|
0.0556 | |
| CY2020Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
453000 | |
| CY2020Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
320000 | |
| CY2020Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
121000 | |
| CY2020Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
105000 | |
| CY2020Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
|
98000 | |
| CY2020Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
|
98000 | |
| CY2020Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
1195000 | |
| CY2020Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
118000 | |
| CY2020Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
1077000 | |
| CY2020Q1 | us-gaap |
Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
|
42000 | |
| CY2020Q1 | us-gaap |
Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
|
42000 | |
| CY2020Q1 | us-gaap |
Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
|
42000 | |
| CY2020Q1 | us-gaap |
Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
|
25000 | |
| CY2020Q1 | us-gaap |
Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
|
0 | |
| CY2020Q1 | us-gaap |
Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
|
0 | |
| CY2020Q1 | us-gaap |
Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
|
151000 | |
| CY2020Q1 | us-gaap |
Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
|
19000 | |
| CY2020Q1 | us-gaap |
Finance Lease Liability
FinanceLeaseLiability
|
132000 | |
| ssy |
Number Of Taxing Authorities
NumberOfTaxingAuthorities
|
2 | ||
| CY2020Q1 | us-gaap |
Income Tax Examination Liability Refund Adjustment From Settlement With Taxing Authority
IncomeTaxExaminationLiabilityRefundAdjustmentFromSettlementWithTaxingAuthority
|
359000 | |
| CY2020Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
336000 | |
| CY2019Q1 | us-gaap |
Assets
Assets
|
27060000 | |
| CY2019Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
223000 | |
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
884000 | ||
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
867000 |
