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Jefferson swings to operating profit in third quarter

May 11, 2018 GMT

By Staff

Thomas Jefferson University on Friday reported a $602,500 operating profit for the nine months ended March 31, rebounding from the $27.8 million operating loss the Center City nonprofit had logged in the first six months of its fiscal year.

Jefferson had budgeted for a $13 million operating loss in the first nine months of the fiscal year ended March 31. Total revenue of $3.478 billion was 1.28 percent below budget, but expense of $3.477 billion were 1.66 percent below budget, helping the system to a narrow profit.

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