Revenue during the quarter dropped 7.70 percent to $515.24 million from $558.23 million in the previous year period. Gross margin for the quarter contracted 217 basis points over the previous year period to 87.03 percent. Operating margin for the quarter stood at negative 12.61 percent as compared to a positive 4.44 percent for the previous year period.

Operating loss for the quarter was $64.96 million, compared with an operating income of $24.76 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $30,717 million compared with $77,718 million in the prior year period.

Commenting on the results, Thomas D. Miller, president and chief executive officer of Quorum Health Corporation, said, “These results are not what we hoped for; however, we have made significant progress towards restructuring our hospital portfolio, refining our operations, and adding access to care in our communities since our spin-off from Community Health Systems, Inc. in April 2016.

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

The company has spent $73.15 million cash to meet investing activities during the year as against cash outgo of $78.59 million in the last year. It has incurred net capital expenditure of $72.36 million on net basis during the year, up 11.01 percent or $7.17 million from year ago.

Cash flow from financing activities was $16.41 million for the year, down 52.09 percent or $17.84 million, when compared with the last year.

Cash and cash equivalents stood at $25.46 million as on Dec. 31, 2016, up 2,201.54 percent or $24.35 million from $1.11 million on Dec. 31, 2015.

Debt increases substantially
Quorum Health Corporation has witnessed an increase in total debt over the last one year. It stood at $1,246.82 million as on Dec. 31, 2016, up 5,224.90 percent or $1,223.41 million from $23.42 million on Dec. 31, 2015.