NHC Reports First Quarter Earnings
MURFREESBORO, Tenn.--(BUSINESS WIRE)-- National HealthCare Corporation (NYSE MKT: NHC)(NYSE MKT: NHC.PRA), the nation's oldest publicly traded long-term health care company, today announced net income available to common shareholders for the quarter ended March 31, 2013 of $11,637,000 compared to $10,486,000 for the quarter ended March 31, 2012, an increase of 11.0%. Net income was $0.84 per common share basic for the quarter ended March 31, 2013 compared to $0.76 per common share basic for the quarter ended March 31, 2012.
Revenues for the three months ended March 31, 2013 totaled $194,378,000 compared to $190,050,000 for the same three months of 2012, an increase of 2.3%.
Operating results for the first quarter of 2013 compared to the first quarter last year were favorably impacted by an improved patient mix, as well as the continued effort to implement cost saving measures to reduce expenses in our skilled nursing facilities.
Statements in this press release that are not historical facts are forward-looking statements. NHC cautions investors that any forward-looking statements made involve risks and uncertainties and are not guarantees of future performance. The risks and uncertainties are detailed from time to time in reports filed by NHC with the S.E.C., including Forms 8-K, 10-Q and 10-K, and include, among others, the following: liabilities and other claims asserted against us and patient care liabilities, as well as the resolution of current litigation; availability of insurance and assets for indemnification; national and local economic conditions; including their effect on the availability and cost of labor, utilities and materials; the effect of government regulations and changes in regulations governing the healthcare industry, including our compliance with such regulations; changes in Medicare and Medicaid payment levels and methodologies and the application of such methodologies by the government and its fiscal intermediaries, the ability of third parties for whom we have guaranteed debt to refinance certain short term debt obligations; and other factors referenced or incorporated by reference in the S.E.C. filings. The risks included here are not exhaustive. All forward-looking statements represent NHC's best judgment as of the date of this release.
NHC affiliates operate for themselves and third parties 73 long-term health care centers with 9,221 beds. NHC affiliates also operate 36 homecare programs, six independent living centers and 17 assisted living communities. NHC's other services include Alzheimer's units, long-term care pharmacies, hospice, a rehabilitation services company, and providing management and accounting services to third parties. Other information about the company can be found on our web site at www.nhccare.com.
Interim Condensed Consolidated Statements of Income
(in thousands, except share and per share amounts)
Three Months Ended
Net patient revenues
Net operating revenues
Costs and Expenses:
Salaries, wages and benefits
Depreciation and amortization
Total costs and expenses
Income Before Non-Operating Income
Income Before Income Taxes
Income Tax Provision
Dividends to Preferred Stockholders
Net Income Available to Common Stockholders
Earnings Per Common Share
Weighted average common shares outstanding
Balance Sheet Data
Cash and marketable securities
Restricted cash and marketable securities
Property and equipment, net
Selected Operating Statistics
Three Months Ended
Private Pay and Other
Private Pay and Other
Average Per Diem
National HealthCare Corporation
Gerald Coggin, 615-890-2020
Sr. VP of Corporate Relations
KEYWORDS: United States North America Tennessee
The article NHC Reports First Quarter Earnings originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.