Health insurance costs hurt SRI

TAMPA -- SRI/Surgical Express Inc. (symbol: STRC) attributed a $534,000 net loss on $26.4 million in third quarter revenues to “uncharacteristically high” health insurance costs.

SRI Surgical provides instrument processing and supply chain management services to hospitals and surgery centers throughout the U.S. A year ago, the company earned a tiny profit -- $21,000 — on roughly $25 million in business. But this year, increased expenses led to a quarterly loss.

SRI attributes about half of the swing from gain to loss -- $340,000 -- to health insurance costs, with the rest being explained by higher commodity prices, particularly cotton (used for towels its provides) and diesel fuel.