Revenue during the quarter dropped 3.99 percent to $527.64 million from $549.55 million in the previous year period. Gross margin for the quarter contracted 51 basis points over the previous year period to 87.90 percent. Total expenses were 99.81 percent of quarterly revenues, up from 96.16 percent for the same period last year. That has resulted in a contraction of 364 basis points in operating margin to 0.19 percent.

Operating income for the quarter was $1.03 million, compared with $21.09 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $26.14 million compared with $56.22 million in the prior year period. At the same time, adjusted EBITDA margin contracted 528 basis points in the quarter to 4.95 percent from 10.23 percent in the last year period.

Earnings (loss) per share attributable to Quorum Commenting on the results, Thomas D. Miller, president and chief executive officer of Quorum Health Corporation, said, "As we work to improve all aspects of the Company, we continue to concentrate on divesting non-performing assets and focusing on markets that will lead this Company forward with long-term strategic growth. Our efforts are to focus our resources on those core operations and to continue to reduce costs and improve the efficiencies necessary to drive our profitability and reduce our debt levels. We are working diligently to grow our core markets, driving increased access to care with strong physician recruiting and service line expansion while maintaining our commitment to high quality standards."

Quorum Health Corporation expects revenue to be in the range of $2,050 million to $2,100 million for financial year 2017.

Quorum Health Corporation has generated cash of $18.53 million from operating activities during the quarter, down 24.06 percent or $ 5.87 million, when compared with the last year period.

The company has spent $20.44 million cash to meet investing activities during the quarter as against cash outgo of $14.46 million in the last year period.

Cash flow from financing activities was $66 million for the quarter as against cash outgo of $10.05 million in the last year period.

Cash and cash equivalents stood at $89.54 million as on Mar. 31, 2017, up 8,890.16 percent or $88.55 million from $1 million on Mar. 31, 2016.

Working capital increases marginally

Quorum Health Corporation has recorded an increase in the working capital over the last year. It stood at $338.02 million as at Mar. 31, 2017, up 1.92 percent or $6.36 million from $331.67 million on Mar. 31, 2016. Current ratio was at 1.84 as on Mar. 31, 2017, down from 2.03 on Mar. 31, 2016.

Days sales outstanding went up to 43 days for the quarter compared with 40 days for the same period last year.

At the same time, days payable outstanding went up to 123 days for the quarter from 95 for the same period last year.