NHC Reports Second Quarter Earnings
Net income was
Forward-Looking Statements
Statements in this press release that are not historical facts are forward-looking statements.
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Consolidated Statements of Income | |||||||||||||||||||||||
(in thousands, except share and per share amounts; unaudited) | |||||||||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||||||||
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2017 | 2016 | 2017 | 2016 | ||||||||||||||||||||
Revenues: | |||||||||||||||||||||||
Net patient revenues | $ | 227,847 | $ | 216,487 | $ | 455,806 | $ | 434,593 | |||||||||||||||
Other revenues | 11,610 | 11,281 | 22,894 | 22,763 | |||||||||||||||||||
Net operating revenues | 239,457 | 227,768 | 478,700 | 457,356 | |||||||||||||||||||
Costs and Expenses: | |||||||||||||||||||||||
Salaries, wages and benefits | 142,684 | 135,068 | 280,739 | 265,088 | |||||||||||||||||||
Other operating | 62,856 | 57,306 | 126,739 | 118,615 | |||||||||||||||||||
Facility rent | 10,079 | 10,319 | 20,167 | 20,646 | |||||||||||||||||||
Depreciation and amortization | 10,481 | 9,495 | 20,776 | 18,849 | |||||||||||||||||||
Interest | 1,219 | 939 | 2,277 | 1,893 | |||||||||||||||||||
Total costs and expenses | 227,319 | 213,127 | 450,698 | 425,091 | |||||||||||||||||||
Income Before Non-Operating Income | 12,138 | 14,641 | 28,002 | 32,265 | |||||||||||||||||||
Non-Operating Income | 5,189 | 4,925 | 9,957 | 9,698 | |||||||||||||||||||
Income Before Income Taxes | 17,327 | 19,566 | 37,959 | 41,963 | |||||||||||||||||||
Income Tax Provision | (6,758 | ) | (7,700 | ) | (14,757 | ) | (16,398 | ) | |||||||||||||||
Net Income | 10,569 | 11,866 | 23,202 | 25,565 | |||||||||||||||||||
Loss Attributable To Noncontrolling Interest | 86 | - | 181 | - | |||||||||||||||||||
Net Income Attributable to |
$ | 10,655 | $ | 11,866 | $ | 23,383 | $ | 25,565 | |||||||||||||||
Earnings Per Common Share | |||||||||||||||||||||||
Basic | 0.70 | $ | 0.78 | $ | 1.54 | $ | 1.69 | ||||||||||||||||
Diluted | 0.70 | $ | 0.78 | $ | 1.54 | $ | 1.68 | ||||||||||||||||
Weighted average common shares outstanding | |||||||||||||||||||||||
Basic | 15,189,818 | 15,266,559 | 15,181,700 | 15,091,732 | |||||||||||||||||||
Diluted | 15,220,448 | 15,289,104 | 15,216,336 | 15,212,275 | |||||||||||||||||||
Dividends declared per common share | $ | 0.48 | $ | 0.45 | $ | 0.93 | $ | 0.85 | |||||||||||||||
Balance Sheet Data | |||||||||||||||||||||||
(in thousands) | |
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2017 | 2016 | ||||||||||||||||||||||
Cash and marketable securities | $ | 208,985 | $ | 164,348 | |||||||||||||||||||
Restricted cash and marketable securities | 169,702 | 188,958 | |||||||||||||||||||||
Current assets | 328,731 | 290,857 | |||||||||||||||||||||
Property and equipment, net | 555,529 | 559,624 | |||||||||||||||||||||
Total assets | 1,100,246 | 1,087,447 | |||||||||||||||||||||
Current liabilities | 137,048 | 150,928 | |||||||||||||||||||||
Long-term debt | 120,000 | 120,000 | |||||||||||||||||||||
NHC Stockholders' equity | 688,669 | 669,611 | |||||||||||||||||||||
Selected Operating Statistics | ||||||||||||
(unaudited) | ||||||||||||
Three Months Ended | Six Months Ended | |||||||||||
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2017 | 2016 | 2017 | 2016 | |||||||||
Per Diems: | ||||||||||||
Medicare | |
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Managed Care | 407.16 | 399.04 | 409.42 | 401.57 | ||||||||
Medicaid | 176.31 | 173.87 | 176.68 | 173.82 | ||||||||
Private Pay and Other | 232.91 | 224.80 | 232.29 | 223.70 | ||||||||
Average Per Diem | |
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Medicare | 118,755 | 117,472 | 242,651 | 242,164 | ||||||||
Managed Care | 62,542 | 56,033 | 122,160 | 111,702 | ||||||||
Medicaid | 318,605 | 318,757 | 633,893 | 636,218 | ||||||||
Private Pay and Other | 181,613 | 175,999 | 358,488 | 350,608 | ||||||||
Total |
681,515 | 668,261 | 1,357,192 | 1,340,692 |
View source version on businesswire.com: http://www.businesswire.com/news/home/20170804005043/en/
Source:
Initiating Research Reports on Life Insurance Equities — Manulife Financial, Torchmark, AEGON, and American Equity Investment Life
Essent Group Ltd. Reports Second Quarter 2017 Results
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