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MedCath posts 1Q net income of $37M

Charlotte-based MedCath Corp. today said it had net income of $37 million, or 1.86 a share, in the first quarter of 2011, compared with a loss of $2.7 million, or 13 cents a share, in the same quarter last year.

Net revenue increased 1.2 percent to $88.9 million from $87.8 million over the same period.

MedCath is a health care provider specializing in the diagnosis and treatment of cardiovascular disease. It owns an interest in and operates six hospitals with a total of 533 licensed beds in Arizona, Arkansas, California, Louisiana, New Mexico and Texas. MedCath Partners is its subsidiary.

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